Lifeline SPAC I

Lifeline SPAC I is a Finnish special purpose acquisition company (SPAC) and the second SPAC to be established in Finland. It was listed on the Helsinki Stock Exchange on 15 October 2021, raising capital from investors in order to identify and combine with a privately held target business. Among its ten largest shareholders are Finnish institutional and family investors, including the pension insurer Varma and the life insurer Mandatum Henkivakuutusyhtiö. As a SPAC, Lifeline SPAC I does not itself manufacture or sell products; its purpose is to serve as a listed acquisition vehicle that merges with an operating company, thereby taking that company public. On 5 July 2024 the company announced that it would combine with Canatu Oy, a Finnish high-technology company specialising in carbon nanotubes (CNTs). The combination of Lifeline SPAC I and Canatu was completed on 16 September 2024, after which the combined entity continued as a listed nanotechnology business. The target, Canatu, describes itself as the global leader in advanced carbon nanotubes and CNT reactors, serving the semiconductor, automotive and medical diagnostics industries. Its products include CNT membranes for EUV pellicle, debris filter and optical filter applications used in advanced microchip manufacturing, as well as CNT film heaters for camera sensor de-icing and de-fogging in autonomous driving systems. Canatu operates through two business models: developing and manufacturing CNT material, products and reactors in-house, and selling CNT reactors and licensing its technology to customers. Lifeline SPAC I therefore represents a Finnish capital-markets vehicle whose principal legacy is the public listing of Canatu. Its story illustrates the growing use of SPAC structures in the Nordic region as an alternative route to public markets for high-growth technology companies.

Lifeline SPAC I was established as a Finnish special purpose acquisition company and became the second SPAC in Finland. It listed on the Helsinki Stock Exchange on 15 October 2021, offering shares to public investors. As a SPAC, its business purpose was to raise capital through an initial public offering and then identify and merge with a privately held operating company, thereby providing that company with a route to public markets. The company attracted a shareholder base that included Finnish institutional investors and family offices. Among its ten largest shareholders were the pension insurer Varma and the life insurer Mandatum Henkivakuutusyhtiö, alongside Finnish family-owned companies. On 5 July 2024, Lifeline SPAC I announced that it would combine with Canatu Oy, a Finnish high-technology company focused on carbon nanotubes (CNTs). Canatu describes itself as the global leader in advanced carbon nanotubes and CNT reactors, serving the semiconductor, automotive and medical diagnostics industries. Its products include CNT membranes for EUV pellicle, debris filter and optical filter applications used in advanced microchip manufacturing, and CNT film heaters for camera sensor de-icing and de-fogging in autonomous driving systems. The combination of Lifeline SPAC I and Canatu was completed on 16 September 2024. Following the transaction, the combined business continued as a listed nanotechnology company, with Canatu's technology and products forming the operating core of the entity. Lifeline SPAC I thus fulfilled its role as a capital-markets vehicle whose principal outcome was the public listing of Canatu.

• Lifeline SPAC I lists on the Helsinki Stock Exchange.

• Lifeline SPAC I announces it will combine with Canatu Oy.

• Combination of Lifeline SPAC I and Canatu completed.

A Finnish listed special purpose acquisition company (SPAC) used as a vehicle to take a high-technology target company public.

1. 1Listing - Canatucanatu.com
2. 2Canatu as a companycanatu.com
3. 3About Canatu – Nano solutions for massive impactcanatu.com
4. 4Canatu CNT productscanatu.com
5. 5Lifeline SPAC I – Wikidatawikidata.org
6. 6Lifeline SPAC I – Wikipedia (Finnish)fi.wikipedia.org