European Healthcare Acquisition & Growth Company B.V.’s Initial Public Offering

Clifford Chance has advised the Joint Global Coordinators Deutsche Bank, J.P. Morgan and Berenberg as well as Joint Bookrunner ABN AMRO Bank N.V. Houthoff advised European Healthcare Acquisition & Growth Company.

EHC is a Special Purpose Acquisition Company (SPAC) with a focus on the European healthcare sector. EHC successfully listed on Euronext Amsterdam on 18 November 2021 and is sponsored by a renowned and highly experienced team of industry leaders including McKinsey Germany and Austria Managing Partner Cornelius Baur as well as former CEOs Axel Herberg, Stefan Oschmann, Peer Schatz and Stefan Winners.

EHC plans to acquire and support growth of a company in the European healthcare sector, whereby the primary focus is on companies with a strong and tangible business foundation in Biotechnology and Specialty Pharma, Pharma Services, Medical Technology and Medical Devices, Diagnostic and Laboratory Services, Bioinformatics, and Life Science Tools. A business combination is expected to be completed within 24 months from the completion of the listing. The admission and issue price of EHC shares was set at EUR 10 per share. The SPAC listing successfully raised EUR 200 million from international investors through private placements.

The Clifford Chance cross-border team advising the banks on this innovative SPAC IPO was led out of Frankfurt by partners George Hacket (Picture) and Philipp Klöckner (both Frankfurt) and comprised counsels Axel Wittmann (Munich) and Nico Feuerstein as well as associate Maks Mencin (both Frankfurt, all Capital Markets), partner Gregor Evenkamp (Munich) and senior associate Werner Radziwill (Frankfurt, both Capital Markets/Regulatory). The Amsterdam team was led by senior counsel Han Teerink, and also comprised senior legal adviser Michael Otte and junior associate Polly Huls (all Corporate), associate Erwin Schreuder (Capital Markets/Regulatory), partner Michiel Sunderman and trainee lawyer Alec Sanderson (Tax, all Amsterdam) as well as partner Avrohom Gelber (Tax, New York).

The Houthoff team included Alexander Kaarls, Kasper van der Sanden, Eva Luna de Boer, Philippe Stille, Paul de Vries, Marijn van Horen, Joy Hordijk and Jeroen van Mourik.

Involved fees earner: Gregor Evenkamp – Clifford Chance; Nico Feuerstein – Clifford Chance; Avrohom Gelber – Clifford Chance; George Hacket – Clifford Chance; Polly Huls – Clifford Chance; Philipp Klöckner – Clifford Chance; Maks Mencin – Clifford Chance; Werner Radziwill – Clifford Chance; Erwin Schreuder – Clifford Chance; Michiel Sunderman – Clifford Chance; Han Teerink – Clifford Chance; Axel Wittmann – Clifford Chance; Eva Luna de Boer – Houthoff; Paul de Vries – Houthoff; Joy Hordijk – Houthoff; Alexander Kaarls – Houthoff; Philippe Stille – Houthoff; Kasper van der Sanden – Houthoff; Marijn van Horen – Houthoff; Jeroen van Mourik – Houthoff;

Law Firms: Clifford Chance; Houthoff;

Clients: ABN AMRO Bank N.V; Berenberg Bank – Joh Berenberg Gossler & Co; European Healthcare Acquisition & Growth Company B.V.; J.P. Morgan Asset Management;

Giulia Di Palma

Author: Giulia Di Palma