BEANSPROUT LTD is the firm that creates the initial BEANSPROUT ACQUISITION COMPANY(BAC). We act as Listing Sponsor and Corporate Advisor
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AUDITOR to the BAC will be a firm selected by BEANSPROUT LTD.
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ACCOUNTANT & CORPORATE SECRETARY will be provided by an independent Corporate Service Provider, currently being identified.
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LEGAL FIRM to the BAC will be a firm selected by BEANSPROUT LTD.
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There are four main participants to a BEANSPROUT ACQUISITION COMPANY (BAC)
The Beansprout Participants
The Summary Stages Of A Beansprout
BEANSPROUT LTD establishes the initial trading entity called Beansprout #1, Beansprout #2 et cetera and arranges for them to be listed on the EURONEXT Market Access+. Once listed the companies are available to undertake a permitted transaction.
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FOUNDERS subscribe into Beansprout #1 to provide the initial capital for ongoing expenses for running the vehicle and covering Due Diligence admin costs for identifying a target for investment.
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FOUNDERS, together with regulated intermediaries, find SUBCRIBERS to supplement the initial capital to a level that will facilitate listing and create an investment pool of cash.
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FOUNDERS must identify a target, agree with the target that they are happy to become a listed entity . Agreement of terms on shares to be issued and its initial price must be also agreed
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Annual statutory audit of financial statements. The first phase of the audit, which is comparatively simple and is undertaken at a negotiated rate.
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The Auditor may assist in the Due Diligence of a potential target
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The Auditor could be involved in preparing financial information for a circular which outlines the proposed terms of the potential acquisition
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The Auditor may potentially represent the newly listed entity as an independent relationship
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The Role Of The Auditor To Beansprout Acquisition Company (BAC)
The Role Of The Law Firm To Beansprout Acquisition Company (BAC)
Drafting of the initial founding documents of the BAC
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Potential representation of BAC in the RTO at the BEANSPROUT platform rate.
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Potential representation of newly listed entity as an independent relationship.
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Cross border contracting
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The BEANSPROUT CODE is based on the TSX Capital Pool Company Scheme (CPC) in Canada. It is specifically designed to address the risk of regular Special Purpose Acquisition Companies (SPACs). The scheme has been successfully operating since 1986
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Founders have minimum and maximum investment thresholds, at least one Founder must stay on the board for 12 months post Reverse Takeover(RTO) to transfer the governance expectations
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A new company must be formed by the RTO, where the Target Firm becomes a listed entity. There are defined limits on options for Founders.
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Adherence to the code is periodically certified by the board of the BAC to BeanSprout, until the full conclusion of the listing of the new company
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The Beansprout Code
Life Cycle of A Transaction
1- SET UP
4- TARGETING
2- LAUNCH
3- FREE TO TRADE
5- OFFER
The Lifecycle of a transaction starts with the Sponsor, BEANSPROUT Ltd. creating an investment vehicle, known as a BEANSPROUT ACQUISITION COMPANY(BAC), to be listed on the EURONEXT MARKET ACCESS+. FOUNDER investors subscribe and capitises the BAC , supplemented by SUBSCRIBER investors. A target is identified and subjected to a Reverse Takeover. The BAC becomes a holding company with a trading subsidiary. The holding company is listed on the exchange with publicly traded shares
The Lifecycle of a transaction starts with the Sponsor, BEANSPROUT Ltd. creating an investment vehicle, known as a BEANSPROUT ACQUISITION COMPANY(BAC), to be listed on the EURONEXT MARKET ACCESS+. FOUNDER investors subscribe and capitises the BAC , supplemented by SUBSCRIBER investors. A target is identified and subjected to a Reverse Takeover. The BAC becomes a holding company with a trading subsidiary. The holding company is listed on the exchange with publicly traded shares
6- LAUNCH
9- ONE YEAR LATER
7- FOUNDER OPTIONS
8- END OF JOURNEY
10- NEW RAISE
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