Horizon Investment House to Go Public Via SPAC Merger
Translated & summarized from Globes by baba
Horizon Investment House, led by Itai Lipkovitz, will merge with SPAC Blue Wave to list on the Tel Aviv Stock Exchange, valuing the firm at NIS 40 million. Blue Wave will acquire Horizon in two stages for a total of NIS 40 million. Lipkovitz will remain as chief strategist for at least two years post-merger.
The story in 6 lines · by baba
- Horizon Investment House will merge with SPAC Blue Wave to list on the Tel Aviv Stock Exchange.
- The deal values Horizon Investment House at approximately NIS 40 million.
- Businessman Yariv Lerner leads the SPAC Blue Wave.
- Itai Lipkovitz will continue as chief strategist for Horizon for at least two years.
- Lipkovitz may receive part of his payment in Blue Wave shares.
- The merger aims to expand Horizon's operations and integrate technology.
Horizon Investment House, led by Itai Lipkovitz, is set to be listed on the Tel Aviv Stock Exchange through a merger with the special purpose acquisition company (SPAC) Blue Wave. The deal values Horizon at approximately NIS 40 million.
Under the agreement, Blue Wave, headed by businessman Yariv Lerner, will initially acquire 50% of Horizon's shares for NIS 20 million. The remaining 50% will be purchased from Lipkovitz in eight quarterly installments, also for NIS 20 million.
Following the acquisition, Lipkovitz will continue to serve as the chief strategist for Horizon for at least two years after the deal's completion. He also has the option to receive up to 19.9% of his payment in Blue Wave shares instead of cash, subject to necessary approvals.
Lipkovitz stated that Horizon was founded to provide personal service and a clear professional path. He believes the merger will provide a broader base for expansion, further development of investment management, and integration of technological capabilities. He emphasized his continued involvement as chief strategist to ensure professional continuity and growth.
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