Ogier's Guernsey team has advised Disruptive Capital on the establishment and listing on Euronext Amsterdam of Disruptive Capital Acquisition Company Limited (Disruptive), a Guernsey incorporated special purpose acquisition company (SPAC).
Disruptive successfully raised £125 million in an over-subscribed private placement of shares and warrants for the purpose of completing a business combination with a financial services business that is headquartered or has principal operations in Western and/or Northern Europe. Disruptive is also the first SPAC on Euronext Amsterdam to be listed and traded in pounds sterling.
Partner Bryon Rees led the team, assisted by managing associate Michelle Watson Bunn and trainee solicitors Tobi Oluborode and Tehya Morgan.
Bryon commented: "The Ogier team in Guernsey has been delighted to assist on the successful launch of Disruptive Capital Acquisition Company Limited. The flexible corporate and regulatory framework in Guernsey provides the perfect home for SPAC launches. It is always great to work with the Disruptive team and this occasion was no exception – we wish them success as they move forward to identify a target business."
Edi Truell, executive director of Disruptive and founder of Disruptive Capital, said: "We are delighted to be listing Disruptive Capital Acquisition Company on Euronext Amsterdam. As a listed entity we look forward to helping businesses in the European financial services sector access the public capital markets. Our team has decades of successful business acquisition and transformation across financial services and our ambition is to buy a well-established business and then apply transformative business models and technology to rapidly improve the customer experience, optimise the balance sheet and reduce unrewarded risks. We believe that we have the strategic insights to build a growing business with strong downside resilience that offers exciting opportunities for investors."
Ogier worked with Disruptive's English lead counsel Herbert Smith Freehills LLP, Dutch counsel Stibbe N.V., Guernsey administrator JTC Fund Solutions (Guernsey) Limited and Guernsey registrar JTC Registrars Limited. J.P. Morgan Securities plc and Cantor Fitzgerald Europe acted as joint global coordinators, advised by Allen & Overy LLP. Van Lanschot Kempen N.V. acted as IPO and listing agent and BDO LLP acted as external auditors of Disruptive.
Founded in 2010 by Edmund Truell, a former chairman of the British Venture Capital Association, Disruptive Capital is a private equity firm based in London which seeks to make buyout, growth, early-stage venture capital, and later-stage venture capital investments in Europe. The firm sources and manages opportunistic investments and combines an eclectic mix of senior industry experience with private equity pedigree.