The SPACs, the great success of his father’s Advent and… Unicorn

Some time ago, if you were talking about a Greek “unicorn” or even a Greek version of the SPACs, there was a risk that you would get laughs and even stones. But, the unprecedented success of the parent company Advent to be found one step before its entry in the American stock market Nasdaq using as a vehicle a SPAC changes the data in the Greek market! In order to avoid unpleasant misunderstandings, it is necessary, in any case, to point out that the distance we have to travel is great with many traps and thorns. But, optimism is the one that always dies last. In this sense there is hope… Advent – and more specifically, its Greek subsidiary Advent Technologies SA was founded in February 2005 by researchers at FORTH / IEHMI and collaborating faculty members of the University of Patras. So he started as a technoblast (if you prefer, spin off) and thanks to the perseverance and patience of the members of its founding team (including the current president of the National Research Foundation) “crossed” the Atlantic to meet the stock market. The case of Advent brought to the fore with the power of example a discussion that in one way or another took place in recent years in our country, especially after the establishment and operation of the funds of the Equifund family, the acquisitions of Greek or technology and innovation companies of Greek origin from multinational companies as well as the expanded visibility and extroversion acquired by the domestic innovation ecosystem – a discussion about the financing of research results conducted in the laboratory and reaching the market to find commercial and business use. but we take things in order. Let’s start with the SPACs. SPAC (Special Purpose Acquisition Company) is a special purpose company and this special purpose determines both its physiognomy and its clear limits of action. More specifically, it is a shell company formed in the light of day by investors with a previous honest life and with the permission of the competent stock exchange authorities. Speed ​​of entry in the Stock Exchange 90s. SPACs are from the beginning public companies that with their existence facilitate the maximum in the fast listing of a company in the stock market. The acquisition of a company by a SPAC or its merger with SPAC creates the necessary and necessary condition for the listing of this company on the Stock Exchange. SPAC therefore has a short life span and this time is exhausted from the moment it achieves its goal, ie from the moment the acquisition or merger process with the target company is completed. I repeat: Everything is done in the light of day and under the control of the competent authorities of the Stock Exchange and the Capital Market. And this for SPAC is from the beginning a listed company with known shareholders and capital that has been collected in a legal and transparent way by market investors. SPACs are even called blank check companies (companies with a blank check) as they have ready capital before announcing the target company. SPACs in their current form are first encountered in the 1990s, but their growing popularity is recent. Today, we live in the age of SPAC mania. Already in 2020, the income from the activity of SPACs tripled compared to 2019. Today, SPACs are an attractive investment proposal. For example, the target company (companies with innovative products and applications and even ideas) saves time from the queue of companies to be imported, has secured the financing of its investment program with the money waiting for it, while on the other hand investors with fat wallets can find and bet on attractive odds with relatively limited risk. The Greek version and its value In any case, the promotion of a Greek version of the SPACs in our parts today has a special significance and value. On the one hand because there are companies – mainly spin offs from Universities and Research Centers – that could be a potential pool of target companies for their acquisition by SPACs and on the other hand the country has… rich families with countless family offices but also generous heirs and charities. with their special business arms prominent. The advent of the deadly Covid-19, with the help of the Greek State and the European Union, enabled many researchers to re-examine the relationship between research results and the market through their commercial and business use. So why a spin off from a University or a Research Center with a diagnostic test in the works not to find the SPAC she deserves on her way and not to hope that she can become… Unicorn. And you become a Unicorn if the value of the company reaches and exceeds 1 billion dollars or the equivalent in euros. The only necessary and necessary condition is the entry into the Stock Exchange. The native Advent managed to reach the Nasdaq, let’s wish it to become the first Greek Unicorn !!! Follow it on Google News and be the first to know all the news See all the latest News from Greece and the World, at

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