Ad hoc announcement pursuant to Art. 53 KR
30 August 2023

VT5 activity update 9M 2022/2023

Discussions with a compelling combination partner are progressing to due diligence

VT5 Acquisition Company AG (VT5) today reports on the further progress in its search for a suitable technology company at the heart of long-term industry trends with whom to realize a successful business combination (De-SPAC).

As already announced together with the half-year results at the end of June, VT5 has identified a compelling combination candidate with whom detailed discussions have been progressing well to the extent that a letter of intent including exclusivity of negotiations and a defined time plan has been concluded with the potential combination partner. In the fourth quarter of the reporting year, VT5 advances the detailed evaluation of the contemplated transaction with confidence.

With cash balances in escrow of CHF 199.3 million as of 31 July 2023 to which interest income is added on a quarterly basis (CHF 200.0 million including accrued interest income and withholding taxes), 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 are backed by these funds in escrow and on an adjusted basis carried an equity value of CHF 9.97 per share as of 31 July 2023 (CHF 10.00 incl. accrued interest income and withholding taxes). The cash balances in escrow are currently yielding 1.75%. From the original gross proceeds of TCHF 7,059 from the Founder and Sponsor shares, TCHF 3,436 Founder and Sponsor funds are available as of 31 July 2023 which will be used for the due diligence and De-SPAC process if due diligence confirms our positive impression about the target.

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 are excited to have been able to identify a convincing combination partner and successfully sign a term sheet. The coming months of due diligence works will be decisive regarding the following De-SPAC process. We look forward to proposing a business combination with a well-established private company which we can bring to SIX Swiss Exchange via VT5.”

VT5 plans to inform on further progress with regards to the De-SPAC process, according to the applicable ad hoc publication procedures.
 

Reporting Calendar 2023
FY 2022/2023 report: 13 December 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.