SPACS as an instrument of beneficial change in corporate governance, aimed at company growth: The first Italian insurtech-based insurance company

Abstract

The paper begins with the definition of the concept of SPAC (“Special Purpose Acquisition Companies”), as a corporate vehicles constituted with the objective to carry out after raising capital an investment in one or more existing operating companies (“target company”). We focus on the peculiar aspects of the SPAC as an instrument of beneficial change in corporate governance, aimed at company growth. Therefore, a summary picture of the situation of the SPACs in the Italian context is provided, proceeding, finally, to the analysis of the case of NET SPA, the first insurtech based Italian insurance company, created through the SPAC tool