Lanvin Group, a global luxury fashion group, filed a registration statement on Form F-4 in connection with its proposed business combination with Primavera Capital Acquisition.
Announced in March, the transaction values Shanghai-based Lanvin at a pro forma enterprise value of $1.5 billion, with a combined pro forma equity value of up to $1.9 billion. All of Lanvin Group’s existing shareholders have committed to roll 100% of their holdings into the combined company, representing approximately 65% of the merged enterprise.
If approved, Lanvin Group will receive proceeds of up to $544 million, including $414 million of cash in PCAC’s trust account, a fully-committed PIPE subscription and forward purchase agreements of $130 million from investors including Fosun International Limited, ITOCHU Corporation, Stella International Limited, Baozun Hong Kong Investment Limited, Golden A&A, Aspex Master Fund and Sky Venture Partners.
A bonus pool of 3.6 million post-merger shares will be made available to PCAC non-redeeming public shareholders. Bonus shares forfeited by redeeming PCAC shareholders will be distributed on a pro rata basis. All of the shares in the bonus pool will be contributed by Fosun International and Primavera Capital Acquisition, the SPAC’s sponsor.
Lanvin Group, formerly Fosun Fashion Group, is a luxury fashion group managing brands worldwide including Lanvin, Sergio Rossi, Wolford, St. John Knits, and Caruso. Read more.
