Business Combination Agreement between Boxine GmbH and 468 SPAC I SE

Boxine, Creator of a New Multi-Billion Euro Category and the Company behind the Toniebox and Tonies figurines, is to become Publicly Listed via a Combination with 468 SPAC I SE

▪ Boxine, the company behind the Toniebox and Tonies figurines, has built a leading interactive digital audio platform for kids with more than 2.4 million connected households
▪ Boxine’s FY 2020 revenues of EUR 137 million represent a strong CAGR of 50% since 2018, with further revenue growth of 40% projected from 2021
▪ The transaction values Boxine at a pro-forma enterprise value of EUR 870 million and at a pro-forma equity value of EUR 990 million
▪ A PIPE round of EUR 100 million was raised from BIT Capital, Baillie Gifford and other leading institutional investors
▪ The merger with 468 SPAC I SE (“468 SPAC”) will enable Boxine to accelerate its global expansion plans and build on its success to date in the DACH region, UK, Ireland, and the US, as well as underpin product and platform expansion
▪ An Armira-led consortium will remain the largest shareholder group after the merger
▪ The transaction is expected to complete in the fourth quarter of 2021
There are no press releases at the moment.

Additional Resources

Investor Presentation (PDF)