With a team led by capital market lawyer Dr. Thorsten Kuthe, partner at the Cologne office, Heuking Kühn Lüer Wojtek advised 7C Solarparken AG on a capital increase and a convertible bond issue.
The capital increase is made against cash contributions in exclusion of shareholders' subscription rights. The issue price per share is EUR 2.30. 7C Solarparken intends to use the funds from the capital increase of some EUR 1.7 million to continue its growth path and to sustainably strengthen its solid equity ratio.
In October 2016, 7C Solarparken had issued convertible bonds to their existing shareholders. The company’s shareholders were able to purchase the convertible bonds at a 42:1 ratio. After expiry of the twelve-month term, the convertible bond can be converted at a price of EUR 2.50 per share.
7C Solarparken AG is owner and operator of solar power plants and is focused on the German solar market. More than 90% of its portfolio assets are located in Germany. A smaller portion of the portfolio is located in Belgium and Italy.
Counsel to 7C Solarparken AG
Heuking Kühn Lüer Wojtek:
Dr. Thorsten Kuthe (Capital Markets, Lead), Cologne
Miriam Schäfer (Capital Markets), Düsseldorf
Christopher Görtz (Capital Markets), Cologne