Entire Section
Eligibility of De-SPAC Targets
18B.38
The Exchange will not consider a Successor Company to be eligible for the purpose of rule 18B.36 if it qualifies for listing only by virtue of the application of Chapter 21 of the Listing Rules.
18B.39
At the time of entry into a binding agreement for the De-SPAC Transaction, a De-SPAC Target must have a fair market value representing at least 80% of the funds raised by the SPAC from its initial offering (prior to any redemptions referred to in rule 18B.57).