2 minutes read
Announced in May 2022, SMG European Recovery SPAC SE completed its target of EUR 115 million private placement after its listing on the Frankfurt Stock Exchange (initial listing price of EUR 10 per Unit).
SMG European Recovery SPAC SE is the first European vehicle focused on the strong fundamentals and ongoing post-Covid recovery opportunities in the European leisure and lodging sector. With its focus on the leisure and lodging sub-sectors of the real estate-related hospitality sector, SMG SPAC is targeting one of the largest and most attractive segments of the European economy, which is expected to continue to demonstrate consistent long-term growth.
Favouring a SPAC listing as an alternative to a classic IPO (Initial Public Offering), SMG granted the platform an easier access to the public markets and additional equity capital for future growth. SPACs have been around for decades, but have experienced a marked resurgence in recent years, fueled by unprecedented levels of SPAC listings in the US.
