Chubais' first "unicorn" will go public by the end of the year with an estimate of $ 3 billion

The manufacturer of graphene nanotubes OCSiAl is going to go public through a merger with SPAC before the end of this year, co-founder of the company Yuri Koropachinsky confirmed in an interview with Forbes Capital. By 2023, the first "unicorn" grown under the patronage of the team of Anatoly Chubais intends to cost $ 10-15 billion with EBITDA above $ 100 million

The manufacturer of graphene nanotubes OCSiAl is going to go public through a merger with SPAC before the end of this year, co-founder of the company Yuri Koropachinsky confirmed in an interview with Forbes Capital. By 2023, the first "unicorn" grown under the patronage of the team of Anatoly Chubais intends to cost $ 10-15 billion with EBITDA above $ 100 million

 

OCSiAl Group, which, according to Anatoly Chubais, became the first Russian “unicorn” in the real sector, will go public by the end of the year with an estimate of $ 3 billion, its co-founder Yuri Koropachinsky told Forbes.

“When a SPAC company says, 'Yes, we are probably candidates for a merger,' a document is being discussed called LOI - Letter of Intent (letter of intent. - Forbes). This document contains the assessment of the company, the size of the investment. You can discuss this with any number of SPACs, but only one LOI is subscribed because it is exclusive. It assumes then 45 days for discussion, agreement, merger. This is the LOI, I think we will sign at the end of September. We are now talking with nine SPAC companies at a very deep, advanced stage, ”said Koropachinsky.

In the summer, OCSiAl Group closed a series of rounds to attract investments totaling more than $ 100 million. The Japanese company Daikin Industries also became a shareholder - it invested $ 4 million in the nanotube manufacturer. interview with Forbes Capital. The organizer was J.P. Morgan, which acted as the placement agent, and the investment fund Da Vinci Capital, which brought together a pool of international institutional and private investors.

Koropachinsky also said: “We are now undergoing private placement (non-public placement. - Forbes), and there are much larger checks. For two private placements, which we started in May and will finish in September, I think we will raise $ 200 million. "

Material on the topic
Chubais' unicorn: who built the first Rusnano project worth $ 1 billion

OCSiAl used part of the funds received to early redemption of Eurobonds issued in favor of Rusnano for a total of $ 40 million. Koropachinsky explains: “If we went public, Rusnano could convert the debt at a very low estimate. When we borrowed five years ago, we did not think that we would become public in five years, and wrote the estimate that was the default. Therefore, we needed to pay off the debt before the SPAC deal so as not to “dilute”.

OCSiAl Group was founded in 2010 in Luxembourg, the main production is located in the Novosibirsk academic town. The company claims to have created a technology to synthesize graphene nanotubes on an industrial scale, which can improve the properties of many materials.

One of the most promising applications is in electric vehicle batteries. According to Koropachinsky, 1,000 tons of nanotubes are needed to produce 10 million electric vehicles. The company sold 12 tons last year.

According to the co-founder of OCSiAl, the company plans to offer about 15% of shares on the stock exchange and receive $ 300- $ 800 million: "The main thing for which we need money is to start building a large plant, otherwise 2024 will not be provided with our existing facilities."

Also in an interview with Yuri Koropachinsky about how many nanotubes the electric car market will need, whether this material is harmful to health and why the company does not let anyone into its production. Watch the full version on the Forbes YouTube channel.