About Us

We are a Special Purpose Acquisition Company (SPAC) and we pride ourselves on our ability to generate new business, even in tough economic conditions.

We look to raise capital to fund the acquisition of companies or businesses in the technology sector.

Our business strategy and business model depend on the successful completion of any acquisition, and on the effective and successful running of the companies or businesses acquired.

We are dependent on our Directors identifying suitable acquisition opportunities, and it is the Company’s intention for any acquisition to involve the Company acquiring only a single company or business at any one time.

Leadership

Jason Smart

Jason Smart

Director

Currently Fairfax Capital’s Managing Director, seasoned industry veteran, Jason Smart, has over 15years' experience in international capital Markets...

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Christopher Disspain

Christopher Disspain

Non-Executive Director

Chris is the chair of DNS Capital Ltd, a company that provides advice on strategy, policy, government relations, and crisis management to businesses around the world...

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Peter Presland

Peter Presland

Chairman

Peter Presland has over 45 years of experience in business, much of that at the highest levels of management within both public and private companies...

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David Orchard

David Orchard

General Counsel to the Company

David Orchard, a lawyer with 25 years of experience in international commercial litigation and arbitration, is the President and Co-Founder of WGP Global...

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What is a SPAC?

A special purpose acquisition company (SPAC) is a company with no commercial operations that is formed strictly to raise capital through an initial public offering (IPO) for the purpose of acquiring an existing company. Also known as “blank check companies,” SPACs have been around for decades. In recent years, they’ve become more popular, attracting big-name underwriters and investors.

Key Takeaways

  • A special purpose acquisition company is formed to raise money through an initial public offering to buy another company.
  • At the time of their IPOs, SPACs have no existing business operations or even stated targets for acquisition.
  • Investors in SPACs can range from well-known private equity funds to the general public.
  • SPACs have a limited period within which to complete an acquisition or they must usually return the balance of funds remaining (after payment of the Company’s operating expenses )to investors after this period

How a SPAC Works

SPACs are generally formed by investors, or sponsors, with expertise in a particular industry or business sector, with the intention of pursuing deals in that area. As a consequence IPO investors have no idea what company they ultimately will be investing in.

Advantages of a SPAC

Selling to a SPAC can be an attractive option for the owners of a smaller company. Being acquired by a SPAC can also offer business owners what is essentially a faster IPO process under the guidance of an experienced partner, with less worry about the swings in broader market sentiment.