The Spac company has cleared the next hurdle in its planned takeover of Swiss electrical engineering provider R&S.

Spac company VT5, which is listed on the SIX Swiss Exchange, has received the support of existing shareholders for its capital increase. These have fully subscribed to the shares offered as part of a bookbuilding process, as detailed in a press release issued on Monday. The shares were subscribed at a price of CHF 10 per share.

This represents a further milestone in the planned merger with R&S International Holding, according to the press release. VT5 will hold an Extraordinary General Meeting on Monday (today), at which further details of the planned takeover are to be finalised.

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