Space Holding is an investment firm formed by a team of promoters with extensive experience and a complementary set of professional expertise, very effective in achieving targets.
Space Holding intends to support the development of high-growth Italian privately-held companies which are interested in opening their capital to institutional investors by listing their shares on a regulated market.
The firm assists those companies both by providing them with financial resources for their growth as well as by leveraging the expertise of its own promoters to sustain entrepreneurs and managements in the definition and development of corporate strategies. Space Holding, moreover, actively advises entrepreneurs in their interaction with capital markets and investors.
Space Holding has identified SPACs - Special Purpose Acquisition Vehicles –as the most efficient strategy to provide its target-companies with resources by institutional investors through the direct engagement of its own promoters.
A SPAC, Special Purpose Acquisition Vehicles, is a shell company, with no operations, incorporated by an experienced management team - the Sponsors - to raise capital through an IPO and be listed on a Stock Exchange.
Proceeds raised in the capital markets are then used to acquire a target company or business in any form, including a business combination or a merger (the so called Business Combination). As a result of the Business Combination the shares of the Target company are listed on the Stock Exchange. SPACs have a predetermined time horizon to complete the Business Combination: if no transaction is completed within that timeframe the reference SPAC is liquidated.
With this purpose, in December 2013 Space Holding set up Space S.p.A. – the first SPAC ever incorporated under Italian law – which, pursuant to the rules of Borsa Italiana S.p.A. (the Italian Stock Exchange) qualifies as a Special Investment Vehicle (or SIV), whose shares have been admitted to listing on the Professional Segment of the regulated Telematic Market for Invesment Vehicles (or MIV) organized and operated by Borsa Italiana S.p.A.
On top of the €4.6mln invested by Space Holding, Space raised €130mln in the market from a diversified range of qualified institutional investors to support the merger of Space S.p.A. with a target-company withinh the next 24 months after the listing.
In January 2015, 13 months after its listing, Space S.p.A. announced its Business Combination with F.I.L.A. - Fabbrica Italiana Lapis e Affini S.p.A. (“FILA”), one of the global leader in design, production and marketing of creativity tools and products for children.
Since June 1st, 2015 the merger between Space S.p.A. and F.I.L.A. has become effective: F.I.L.A. is now listed on the Professional Segment of the regulated Telematic Market for Invesment Vehicles (or MIV) by Borsa italiana – the Italian Stock Exchange – with final aim to join MTA segment.
None of the shareholders of Space has exercised the way-out options available to those investors who were not favourable to the merger with F.I.L.A.
In May 2015, Space Holding launched Space2 S.p.A., a new SPAC set up as a Special Investment Vehicle (or SIV) according to the regulations of the markets organised and managed by Borsa Italiana SpA.
Space2 is characterised by an even more efficient structure to support the growth of its target-companies.
Space2 SpA, completed last April business combination with Avio SpA, an international leader in the realization and development propulsion systems for space launchers and space transport.
In 2015 Space Holding S.p.A. set up Space3, born from the partial and proportional splitting of SPAC Space2 SpA on April 5, 2017, announced last June the Business Combination with Aquafil - one of the leading players in Italy and worldwide in the production of synthetic fibers, especially those with regard to polyamide 6 - which was completed on December 4th.
Space4 is the fourth SPAC (Special Purpose Acquisition Company) promoted by Space Holding. With €500 mln of cash Space4 it is the largest Italian SPAC on a regulated market for investment vehicles, the MIV (Regulated Telematic Market for Investment Vehicles) from December 21st.