Borenius advises Lifeline SPAC I on its pending de-SPAC combination with Canatu

We are currently advising Lifeline SPAC I on its pending de-SPAC combination with Canatu to form a publicly listed company through a share exchange.

The combination values Canatu at EUR 230 million in enterprise value at completion and also includes an additional earn-out component.

The combination was completed in September 2024 following a shareholder approval at Lifeline SPAC I’s extraordinary general meeting and listing of the combined company to trading on Nasdaq First North Growth Market Finland.

Lifeline SPAC I’s strategy primarily consists of recognising an unlisted company with high growth potential in the technology sector and merging with it. Lifeline SPAC I is listed on the SPAC segment of Nasdaq Helsinki.

Canatu is a rapidly growing deep technology company developing advanced carbon nanotubes and related products and manufacturing equipment for the semiconductor, automotive and medical diagnostics industries.