Stock corporation law experts Dr. Mirko Sickinger, LL.M., Partner, and Tobias Nagel of commercial law firm Heuking Kühn Lüer Wojtek advised WESTGRUND Aktiengesellschaft on a 10% capital increase against cash contributions with proceeds from the issue totaling around EUR 8,134,000.00.
The shares were placed in full with institutional investors by way of a private placement. With warrants excluded, the issue price was EUR 3.40 per share.
With the gross proceeds from the issue, the company intends to realize additional acquisitions in the residential real estate market in the course of its expansion with the aid of borrowed capital and to continue the expansion of its portfolio of residential units.
Heuking Kühn Lüer Wojtek had already legally advised the company on two capital increases in 2013.
Counsel to WESTGRUND Aktiengesellschaft:
Heuking Kühn Lüer Wojtek
Dr. Mirko Sickinger, LL.M. (Lead),
Lena Pfeufer (all Stock Corporation Law), all Cologne,
Dr. Karsten Kühne (Notary), Berlin