Linklaters advises on trio of market-leading Euronext Amsterdam SPAC transactions

Linklaters has advised on a trio of market-leading special purpose acquisition company (SPAC) transactions.

The firm advised Goldman Sachs International and J.P. Morgan AG as placement agents on the private investment in public equity (PIPE) transaction in connection with the proposed combination between leading, clinical-stage AI drug discovery company BenevolentAI, and Odyssey Acquisition S.A., a €300m Euronext Amsterdam-listed SPAC focused on European healthcare and technology. The deal represents the largest European SPAC merger announced to date and, when closed, will be one of the largest Euronext Amsterdam biotech listings ever.

Linklaters also advised Citigroup, Goldman Sachs and BNP Paribas on the SPAC IPO of Pegasus Entrepreneurial Acquisition Company Europe B.V. and its listing on Euronext Amsterdam. The company raised €210 million in gross offering proceeds to partner with a European headquartered business with a value creation plan which can be further developed with the expertise, additional capital and a listing obtained by entering into a business combination with the company.

Further to these two deals, the firm also advised Cantor Aurel and Cantor Fitzgerald Europe on the SPAC IPO of Brigade-M3 European Acquisition Corp. and its listing on Euronext Amsterdam. The Company raised €255 million and will seek a business combination with a company with significant European based operations.

The Linklaters teams for these mandates were led by partners Jason Manketo and Alex Harmse, and included Counsel Will Cresswell, junior associate Joris Knoll, senior US associate Scott James and US law clerk Ian Sholl.

These transactions build on Linklaters’ track record advising on some of the most high-profile and significant Euronext Amsterdam SPAC deals in 2021, including the IPOs of Energy Transition Partners B.V., VAM Investments SPAC B.V. and Pegasus Acquisition Company Europe B.V earlier this year.