Primavera Capital Acquisition in an 8-K filing said Fosun Fashion Holdings has increased its PIPE commitment to about $133 million — up $95 million from the initial subscription. The funding is in support of the SPAC’s proposed merger with Lanvin Group, a luxury fashion company.
Primavera also removed the deal’s bonus pool of 3.6 million post-merger shares that were to be contributed by Fosun International.
The SPAC and Lanvin Group are also in discussions to explore alternative non-redemption incentives for certain selected holders of Primavera’s Class A ordinary shares to commit to not redeem their shares in connection with the business combination.
Primavera last month lowered the per-share price of Lanvin from $3.365773 to $2.6926188. Additionally, the SPAC added a $50 million equity investment by Meritz Securities to its PIPE.
Lanvin, formerly Fosun Fashion Group, manages brands worldwide including Lanvin, Sergio Rossi, Wolford, St. John Knits, and Caruso. Read more.
