Special Purpose Acquisition Companies (SPACs)
Co-invest with sponsors and raise capital quickly
Learn more about the benefits of listing a SPAC on Nasdaq's European Markets.
Benefits of SPACs
Quicker time to market
Nordic SPACs offer a simpler, quicker and less expensive path to becoming a public company than a traditional IPO.
Faster acquisition process
The sponsor has a wide range of potential investors it can market to, which eases the burden of raising capital.
The SPAC offering is a great complement to an already vibrant Nordic IPO market. We look forward to working with our market participants to make the SPAC offering adopted in the market.
Typical Lifecycle of a Nordic SPAC
At Nasdaq, the typical lifecycle of a Nordic SPAC consists of: the listing of the SPAC on our exchange, the identification of a target company and announcement of the business combination and the completion of the merger. The business combination is subject to full listing review, publication of prospectus and other regulatory approvals. See above for an overview of the typical lifecycle of a Nordic SPAC.
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SPAC IPO
Approximately 3-4 months from kick-off to listing
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Listing to Business Combinations Announcement
SPAC has up to 36 months from its IPO to identify a target and complete the business combination (18 to 24 months in practice)
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Announcement to Closing
Typically 4-6 months from business combination announcement to closing of the merger, subject to full listing review, publication of prospectus and other regulatory approvals
Get in touch
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Resource Center
FAQs
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To learn more about specific requirements for Nordic SPACs, please refer to the Nordic SPAC product sheet and refer to the Rulebook and Clarifications of the Rulebook.
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Nordic SPACs are listed on the Nasdaq Main Market in a separate SPAC segment. Business combinations can choose to qualify for a Nasdaq First North Growth Market or Main Market listing.
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The initial funds raised through the IPO are placed into a trust or escrow account until the time of a potential business combination occurs. Investors also hold the right to vote on potential business combination targets and can choose to redeem their public shares.
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A SPAC is formed from capital raised in a traditional IPO. As a publicly-traded entity, a SPAC must satisfy Nasdaq’s listing requirements. SPACs can be used as a tool by public and private companies to raise funds for the purpose of an acquisition. In a SPAC, original investors vote on the business combination. In traditional IPOs, the underwriters market and sell the company shares.
Related Information
Our Markets
Nordic Main Market
Our regulated market suited to companies that can adhere to the highest standards.
KEY FEATURES
- Quality Stamp
- Visibility
- Broader and International Investor Base
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Our regulated market suited to companies that can adhere to the highest standards.
KEY FEATURES
- Quality Stamp
- Visibility
- Broader and International Investor Base
Rules & Regulations
Market Rules & Regulations
Learn about the market rules and regulations for US and global markets.
KEY FEATURES
- Nasdaq Listing Information
- US Market Regulation
- European Market Regulation
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Learn about the market rules and regulations for US and global markets.
KEY FEATURES
- Nasdaq Listing Information
- US Market Regulation
- European Market Regulation
SPAC US Market
SPAC
Nasdaq is the home for SPACs from IPO through business combination.
KEY FEATURES
- Proven and Reputable Structure
- Opportunity for Additional SPAC Formations
- Faster Capital-Raising Process
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Nasdaq is the home for SPACs from IPO through business combination.
KEY FEATURES
- Proven and Reputable Structure
- Opportunity for Additional SPAC Formations
- Faster Capital-Raising Process