A team led by Dr. Thorsten Kuthe, a lawyer specializing in Capital Markets and Partner at the Cologne office, advised publicly listed 7C Solarparken AG on a capital increase from EUR 44,821,419 to EUR 46,791,825. The proceeds of the issue are to be used to accelerate the company's growth and to implement strategic measures.
The capital increase was carried out in an accelerated bookbuilding process by issuing 1,970,406 new no-par value bearer shares against cash contributions, excluding shareholders' subscription rights. The shares were exclusively offered to institutional investors in Germany and other European countries as part of a private placement at a price of EUR 2.35 per share. The transaction was supported by Quirin Privatbank AG.
7C Solarparken AG is the owner and operator of solar power plants, focusing on the German solar market. More than 95% of its portfolio assets are located in Germany, primarily in Bavaria and Saxony. A smaller part of its portfolio is located in Belgium and Italy.
The team led by Dr. Kuthe had already advised 7C Solarparken on several occasions, including on capital increases in January and April 2017 and on issuing a convertible bond with subscription rights in October 2016.
Counsel to 7C Solarparken AG
Heuking Kühn Lüer Wojtek:
Dr. Thorsten Kuthe (Capital Markets, Lead), Cologne
Miriam Schäfer (Capital Markets), Düsseldorf