References/5 Jul 2024

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 is expected to be 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.

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Juha Koponen

Partner

Helsinki, London, New York

Jyrki Tähtinen

Senior Partner

Helsinki

Christel Nokkala

Senior Associate

Helsinki

Aksu Tuominen

Counsel

Helsinki, London

Jere Onnela

Associate

Helsinki

Lauri Teräsvuori

Associate

Helsinki

Teo Virtanen

Senior Associate

Helsinki

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Vilma Kokko

Capital Markets Language Specialist

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Einari Karhu

Partner

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Eveliina Ilonen

Senior Associate

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Mikko Vesikivi

Senior Associate

Helsinki

Emma Wilhelmsson

Associate

Helsinki

Teemu Lehti

Associate

Helsinki

Iina Väisänen

Associate

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Louna Taskinen

Senior Associate

Helsinki

Ilana Elfving

Associate

Helsinki

Nora Hietanen

Senior Associate

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Andreas Doepel

Senior Counsel, General Counsel

Helsinki

Mia Mokkila

Partner

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Eeva Terho

Counsel

Helsinki