VT5 Acquisition Company AG : Activity update 1Q 2022/2023

News release
28 February 2023

VT5 activity update 1Q 2022/2023
Discussions with promising combination candidates are advancing

In the first quarter of the financial year 2022/2023, VT5 continued its extensive search for a suitable technology company at the heart of long-term industry trends, such as digitalization, energy technologies and industrial automation. The team has further intensified the discussions with candidates under NDA. Currently, preliminary discussions with two promising potential combination candidates are ongoing. At the same time, the team continues to screen further opportunities as the pipeline has increased due to an improved capital market environment.

With cash balances in escrow of CHF 198 million, VT5 offers access to liquidity and capital for private companies with expansion ambitions and an elegant, fast-track solution to become a SIX-listed company. The publicly traded Class A Shares of VT5 Acquisition AG are backed by these funds in escrow and on an adjusted basis carried an equity value of CHF 9.90 per share as of 31 October 2022 (end of fiscal year 2021/2022). The cash balances in escrow are currently yielding 1% since the recent interest rate increase by the Swiss National Bank.

In the current challenging geopolitical, macroeconomic and equity market environment, the high-quality long-term Swiss investor base, supported by strong commitments from cornerstone and anchor investors, has thus become even more of a well-recognized asset.

Heinz Kundert, Chairperson of VT5, states: „On behalf of the Board of Directors and the Executive Board, we thank our esteemed shareholders for their trust and continued support. We look forward to proposing a business combination with a private company which we can bring to SIX Swiss Exchange via VT5.”

VT5 plans to publish further information together with the half-year 2022/23 reporting on 29 June 2023.
 

Corporate Calendar 2023
Annual General Meeting         28 February 2023, 17.00 CET
Half-year 2022/2023 Report   29 June 2023
 

Contact
VT5 Acquisition Company AG
Communications & Investor Relations
Doris Rudischhauser
Phone: +41 79 410 81 88
Email: doris.rudischhauser@vt5.ch

About VT5
VT5 is a special purpose acquisition company (SPAC), a vehicle to directly or indirectly acquire one or (if at the same time) more operating companies or businesses in order to take them public and provide dedicated support. VT5 provides a target company with the industry and technical experience of a seasoned team to allow a fast and smooth way to become a public company in Switzerland. VT5 seeks to unlock this investment opportunity for investors by entering into a business combination with a technology and innovation leader backed by scientific research within 24 months of listing. Geographically, VT5 is looking to acquire a business in Central and Northern Europe with a focus on the DACH region and in particular on Switzerland.

The class A shares and redeemable warrants are listed on SIX Swiss Exchange under the symbols of VT5 and VT5W, respectively.

More information about VT5 and its IPO can be found at www.vt5.ch.
 

Disclaimer
This announcement may contain forward looking statements, estimates, opinions and projections with respect to anticipated future performance of VT5 ("forward-looking statements"). These forward-looking statements can be identified by the use of forward-looking terminology, including the terms "believes," "estimates," "anticipates," "expects," "intends," "may," "will" or "should" or, in each case, their negative, or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts. Forward-looking statements are based on the current views, expectations and assumptions of the Board and management of VT5 and involve significant known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Forward-looking statements should not be read as guarantees of future performance or results and will not necessarily be accurate indications of whether or not such results will be achieved. Any forward-looking statements included herein only speak as at the date of this release. VT5 undertakes no obligation, and does not expect to publicly update, or publicly revise, any of the information, forward-looking statements or the conclusions contained herein or to reflect new events or circumstances or to correct any inaccuracies which may become apparent subsequent to the date hereof, whether as a result of new information, future events or otherwise. VT5 accepts no liability whatsoever in respect of the achievement of such forward-looking statements and assumptions.