Special Purpose Acquisition Companies
Capita Registrars assisted with the launch of the first ever SPACs in the UK in the latter half of 2005, we are currently the only registrar to offer this service.
A SPAC is, essentially, a Private Equity vehicle typically incorporated in the USA or the Caribbean and primarily aimed at Institutional European & US investors.
Generally listing on AIM, SPACs will raise anything between $100m-$500mUSD and allow the Company to move faster than the traditional AIM cash shell.
SPACs currently trade residually and are operated using paper share certificates, a legend must appear on all share certificates and transactions must be monitored.
In the future we expect SPACs to have the benefit of using the more user-friendly Depositary Interest format and will enable electronic transactions via CREST.