Dutch Star Companies ONE raised € 55.4 million in equity in its 2018 IPO. Including an extra PIPE investment, a total of € 80 million was invested in a merger with CM.com on 20 February 2020 valuing CM.com (post-business combination) at € 237 million. After full (mandatory) conversion of all warrants each DSC1 shareholder had received 1.2868 shares CM.com. At 27 August 2021 CM.com shares closed at € 44.00 per share.
Successively Dutch Star Companies TWO raised € 110 million initial public offering on Euronext Amsterdam on 19 November 2020. The Ordinary Shares and Warrants are traded, under the respective symbols of DSC2 and DSCW1, DSCW2 and DSCW3.
Of this equity 99% is deposited in an escrow account to invest in one target company. If such a target company has been found at least 70% of the shareholders of Dutch Star Companies TWO have to approve the investment in the target company (the Business Combination). Thereafter, Dutch Star Companies TWO will seek to fully consolidate with the target company. It will continue its business activities under the name of the target company, at which point Dutch Star Companies TWO-shareholders will hold listed shares in the Business Combination.
Dutch Star Companies aligns returns for investors, promoters and the target company’s shareholders aiming for a win-win-win. If a Business Combination is not proposed within 24 months after the IPO, invested funds deposited in the escrow account will be, for the most part, returned to shareholders as described in the Prospectus.