Lifeline SPAC I is a Finnish Special Purpose Acquisition Company founded for corporate acquisitions. It raised gross proceeds of EUR 100 million in its initial public offering in October 2021. Lifeline SPAC I’s strategy primarily consists of recognising an unlisted company with high growth potential in the technology sector and merging with it. After assessing a large pool of potential acquisition targets, Lifeline SPAC I has concluded that Canatu materially conforms to the investment criteria set by Lifeline SPAC I, and has selected Canatu as the target company.
Canatu is a deep technology company developing advanced carbon nanotubes (“CNTs”) and related products and manufacturing equipment for the semiconductor (the “Semiconductor”), automotive (the “Automotive”) and medical diagnostics (the “Medical”) industries. These industries require extremely high-quality CNTs and offer Canatu strong growth and profitability potential. Canatu’s versatile platform technology has broad potential applications, with a current core spanning from CNT membranes for extreme ultraviolet (“EUV”) lithography in Semiconductor to film heaters for advanced driver-assistance systems (“ADAS”) in Automotive, and with electrochemical sensors in Medical being in development phase.
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