VT5 Acquisition Company AG / Key word(s): Miscellaneous Adhoc announcement pursuant to Art. 53 LR 5 June 2023 VT5 informs about uncertainties in VERAISON Capital's soft sponsor commitments The Board of Directors of VT5 Acquisition Company AG ("VT5") has been informed by its sponsor VERAISON Capital Ltd ("VERAISON Capital") that there is uncertainty regarding its soft commitments. VERAISON Capital is engaged as sponsor of VT5 through the SICAV Engagement Fund, acting as initiator and sponsor of the Special Purpose Acquisition Company (SPAC) VT5. The expectations of public shareholders in the sponsor and the sponsor's soft commitments are that the sponsor will not redeem its investor shares at the time of a potential business combination (De-SPAC). Moreover, there was a soft commitment of VT5's sponsor at the time of the fund raising in the Initial Public Offering of 15 December 2021 that an additional CHF 5 million "PIPE" (Private Investment in Public Equity) funding would be made available in case that a De-SPAC transaction requires additional capital. Given latest information received from VERAISON Capital, both soft commitments became uncertain. The Board of Directors of VT5 ("BoD") is in the process of reviewing this new situation. As a consequence, VT5 is obliged to review the status of the currently ongoing negotiations with potential merger companies (De-SPAC) and to put some on hold until the full soft commitments of the sponsor can be re-assured or the situation can otherwise be solved. The Board of Directors of VT5 is evaluating possible options and will provide further information in a timely manner. The BoD is fully aware of all obligations towards all of its share- and stakeholders and would like to thank all anchor, cornerstone and public shareholders for their continued support VT5 plans to publish next information at the latest as part of the Half-year 2022/2023 report on 29 June 2023. Reporting Calendar 2023 Contact About VT5 The Class A Shares and redeemable Warrants are listed on SIX Swiss Exchange under the symbols of VT5 and VT5W, respectively. More information about VT5 and its IPO can be found at www.vt5.ch. Disclaimer Additional features: File: VT5 informs about uncertainties in VERAISON Capital's soft sponsor commitments End of Inside Information |
Language: | English |
Company: | VT5 Acquisition Company AG |
Churerstrasse 25 | |
8808 Pfäffikon SZ | |
Switzerland | |
Phone: | +41 55 210 80 80 |
E-mail: | info@vt5.ch |
Internet: | https://vt5.ch |
ISIN: | CH1107979838, CH1108008082 |
Listed: | SIX Swiss Exchange |
EQS News ID: | 1648805 |
End of Announcement | EQS News Service |
1648805 05-Jun-2023 CET/CEST