DGAP-News: Lakestar SPAC I SE / Key word(s): Mergers & Acquisitions 
HomeToGo GmbH and Lakestar SPAC I SE to Combine to Create a Publicly Listed Company as a Next Generation Marketplace 
Focusing on Alternative Accommodation 
2021-07-14 / 19:32 
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Press Release 
HomeToGo GmbH and Lakestar SPAC I SE to Combine to Create a Publicly Listed Company as a Next Generation Marketplace 
Focusing on Alternative Accommodation 
- The transaction values the Combined Company at an equity value of EUR 1.2 billion and an enterprise value of EUR 861 
million 
- The transaction is expected to complete in the third quarter of 2021, and the Combined Company will be listed on the 
Frankfurt Stock Exchange under the ticker "HTG" 
- Investors, including European family offices specialising in tech investments and top European tech entrepreneurs, 
including a significant investment by Dr. Klaus Hommels, have committed EUR 75 million through a common stock private 
investment in public equity ("PIPE") 
- Martin Reiter, VP Europe at Wayfair, who previously built Airbnb's global presence while leading their international 
operations, will join the Supervisory Board and is also investing in the Combined Company 
- HomeToGo achieved record gross booking value of EUR 904 million in H1 2021 (preliminary figures), up 27% yoy, despite 
the impact of COVID-19 
Luxembourg, 14 July 2021 - HomeToGo GmbH ("HomeToGo"), a marketplace with the world's largest selection of alternative 
accommodation, and Lakestar SPAC I SE (Frankfurt Stock Exchange: LRS1) ("Lakestar SPAC I"), a publicly listed special 
purpose acquisition company sponsored by Dr. Klaus Hommels, Founder and Chairman of Lakestar Advisors, today announced 
they have entered into a definitive business combination agreement. Upon closing of the transaction, the listed entity 
is expected to be named HomeToGo ("Combined Company") and the management board will consist of Dr. Patrick Andrae 
(Co-founder and CEO of HomeToGo), travel tech veteran Wolfgang Heigl (Co-founder and Chief Strategy Officer (CSO) of 
HomeToGo), Valentin Gruber (newly appointed COO of HomeToGo) and Steffen Schneider (CFO of HomeToGo). Martin Reiter, VP 
Europe at Wayfair, who previously built Airbnb's global presence while leading their international operations, will 
join the Supervisory Board and is also investing in the Combined Company. After closing of the transaction, the 
Combined Company's common stock will be listed on the Frankfurt Stock Exchange under the ticker symbol "HTG", until 
then Lakestar SPAC I will continue to trade under the ticker "LRS1". 
"Joining forces with Lakestar SPAC I to bring HomeToGo to the public markets presents a great opportunity to fuel the 
next level of growth. High quality, multi-purpose and unique vacation rentals are the new zeitgeist, and this trend has 
drastically accelerated over the last year. With millions of offers and thousands of partners in one comprehensive 
marketplace, HomeToGo already has the largest selection of alternative accommodation and is perfectly positioned to 
make incredible homes easily accessible to everyone," said Dr. Patrick Andrae, Co-founder and CEO of HomeToGo. "The 
Lakestar SPAC I team has significant experience in assisting tech companies like ours and will be a valued strategic 
partner, especially as we grow our tech-enabled supply and demand services for our trusted supply partners. I would 
like to personally thank all those involved in making this combination a success, including new and existing investors, 
and especially our outstanding HomeToGo team." 
"At Lakestar SPAC I, we were particularly interested in partnering with an innovative company in European tech with 
substantial long-term growth potential such as HomeToGo. HomeToGo is led by an accomplished management team and has 
proven to be resilient, growing and developing strongly despite the global pandemic," said Stefan Winners, CEO of 
Lakestar SPAC I. 
"By investing in Berlin-based travel tech firm HomeToGo, we are excited to create a publicly listed combined company 
focusing on a next generation marketplace on alternative accommodation. HomeToGo demonstrates significant growth 
prospects and meets all criteria of the Lakestar SPAC I target profile as the first tech-focused SPAC in Europe," said 
Inga Schwarting, CIO of Lakestar SPAC I. 
Dr. Klaus Hommels, Sponsor and Chairman of the Supervisory Board of Lakestar SPAC I, added: "The European technology 
sector offers attractive investment opportunities with promising valuations and many excellent growth companies. 
However, European tech companies do not have the same access to capital as companies in the U.S. or Asia. There is a 
considerable need for action in Europe to provide young, innovative companies - especially in the growth phase - with 
the necessary capital. This first entirely European tech SPAC deal is an important signal towards European innovators 
looking for European capital." 
The Trend Towards Alternative Accommodation is the New Zeitgeist 
Even before the COVID-19 crisis, there was an increasing trend for consumers to choose alternative accommodation and 
vacation rentals over other types of accommodation. The crisis has further accelerated this trend for the long term: 
security and traveling domestically are just some of the advantages of this category of accommodation, which many 
travellers have now discovered for the first time, bringing new long-term demand into the market. And vacation rentals 
are often a more sustainable choice in terms of limiting CO2 emissions, in part because they are typically associated 
with shorter journeys. 
In addition, a completely new use case for the alternative accommodation offered by HomeToGo has emerged in the last 
year: remote work and the so called "Workation", for example, people choosing to rent accommodation so they can work 
remotely for a few weeks or months from a sunnier or rural location. This particular trend only emerged during the 
COVID-19 crisis, but it again underscores the long-term growth potential of this travel segment. 
HomeToGo Has Achieved Continuous Growth Even During the COVID-19 Pandemic 
The strength of HomeToGo's platform and the structural trend for consumers to increasingly seek alternative 
accommodation options have enabled HomeToGo to achieve continuous growth, even during the COVID-19 pandemic. Having 
grown gross booking value at a compound annual growth rate of 82% prior to COVID-19 for the period from 2016 to 2019, 
HomeToGo generated record gross booking value of EUR 1.3 billion in 2020 and improved adjusted EBITDA^[1] to EUR -2 
million. In H1 2021^[2], HomeToGo achieved a new record gross booking value of EUR 904 million, up 27% yoy, even though 
for long periods of H1 2021 large parts of Europe were still under lockdown. 
HomeToGo: The World's Number One Marketplace for Alternative Accommodation^[3] 
HomeToGo has built the world's largest marketplace for alternative accommodation and vacation rentals. With more than 
30,000 trusted partners using its platform, HomeToGo combines the most comprehensive inventory of more than 14 million 
accommodation offers in one place to help its millions of global users find the ideal home for any trip. 
HomeToGo's state-of-the-art technology platform removes friction for both supply and demand, better connecting online 
travel agencies, property managers and other supply partners with qualified, conversion-optimised consumer demand. The 
platform makes it easier for travellers to compare accommodation offers and trust they are booking the right place to 
stay, while it provides innovative technology solutions for its supply partners and the whole alternative accommodation 
ecosystem to make them more successful. 
The proceeds from the transaction are expected to provide HomeToGo with the capital to drive organic growth and make 
potential acquisitions that could significantly enhance HomeToGo's service offering and further accelerate the entire 
alternative accommodation ecosystem. 
Summary of Transaction 
In addition to the EUR 275 million held in Lakestar SPAC I's trust account^[4], investors, including European family 
offices specialising in tech investments and top European tech entrepreneurs, including a significant investment by Dr. 
Klaus Hommels, have committed to participate in the transaction through a common stock PIPE of EUR 75 million at EUR 
10.00 per share. The transaction values the Combined Company at an equity value of EUR 1.2 billion and an enterprise 
value of EUR 861 million. 
The current HomeToGo shareholders, convertible lenders and holders of virtual options are expected to receive 85 
million shares in the Combined Company, retaining 69% of the post transaction equity in aggregate. Lakestar SPAC I 
investors and founders are expected to retain 25% in the Combined Company; PIPE investors will invest EUR 75 million 
resulting in a 6% equity interest.^[5] 
The transaction is expected to close in the third quarter of 2021. The closing of this transaction is subject to the 
approval of the Lakestar SPAC I shareholders and the satisfaction or waiver of certain other customary closing 
conditions. 
Deutsche Bank acted as financial advisor to Lakestar SPAC I and Morgan Stanley acted as financial advisor to HomeToGo. 
Sullivan & Cromwell served as legal counsel to Lakestar SPAC I. Clifford Chance and V14 Vogel Heerma Waitz served as 
legal counsel to HomeToGo. 
Investor Presentation 
HomeToGo and Lakestar SPAC I recorded an investor conference call to explain the proposed transaction. The recorded

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