Pérez-Llorca advises on the merger agreement of QEV Technologies and Spear and their IPO on Euronext Amsterdam

Pérez-Llorca has advised QEV Technologies on the merger with Spear Investments I and the listing of the resulting company on Euronext Amsterdam.

QEV Technologies, a high-growth company specialized in electric vehicles, and SPEAR Investments I, a special purpose acquisition company (SPAC) promoted by AZ Capital and STJ Advisors and focused on becoming a value partner for a high-growth European company, have successfully closed the signing of the merger agreement of their businesses that will result in the listing of the resulting company, QEV, on Euronext Amsterdam.

QEV will maintain its fiscal domicile, headquarters and operations in Barcelona, and will focus its business plan on the implementation of the D-Hub (Decarbonization Hub), a leading project in electric mobility, which seeks to position Spain and Europe as a benchmark in sustainable automotive. The D-Hub, which has been installed in the strategic Zona Franca of Barcelona, will have a maximum production capacity of 180,000 vehicles per year and is still in the process of hiring personnel.

The implied valuation of the company is 209 million euros. The company has invested €23 million in equity to support QEV Tech’s business plan, which expects to quadruple its revenues by 2023 and aims to sell more than 16,000 electric vehicles per year from 2027. QEV Technologies’ current customer portfolio includes contracts with well-known companies for its Zeroid electric brand. In addition, the company is in advanced negotiations to become a supplier of electric last-mile vehicles and electric buses to large national and international companies.

Pérez-Llorca team has been formed by Marcel Enrich, corporate partner, Norma Peña i Bagés, partner of the tax department, Jesús García Castillo, corporate lawyer, Núria García-Borrón, corporate lawyer and Sergi Aguilar, tax lawyer.

Julia Gil