systaic AG completed a secondary placement by increasing its capital with subscription rights to its shareholders followed by private placement. The company, which constructs and operates solar power plants and also developed innovative solar rooftop solutions, realized proceeds of approximately 9 million euro from the placement. Legal counsel to the Düsseldorf-based company was provided by German law firm Heuking Kühn Lüer Wojtek.
Funds from the capital increase will be used by systaic AG to finance its strong growth. Just recently, the company entered into an extensive master agreement with Colonia Real Estate AG governing the construction of solar power systems amounting to 100 million euro. For another 125 million euro, four solar power plants are being constructed in Spain at this time. "We will provide legal counsel to systaic AG for these projects as well," says Mirko Sickinger, Partner at Heuking Kühn Lüer Wojtek.
Heuking Kühn Lüer Wojtek (Cologne) attorneys involved in the transaction: