A team led by stock corporation and capital markets lawyer Dr. Thorsten Kuthe, Partner at Heuking Kühn Lüer Wojtek, advised Northern Data AG on a cash capital increase with gross proceeds of EUR 30 million. The company intends to use the proceeds from the capital increase among other things to strengthen its balance sheet and to accelerate the growth of its existing business activities.
The capital increase was placed with international investors by way of an accelerated bookbuild. Investor interest in subscribing the new shares significantly exceeded the offering, which led to exercising of an upsizing option. 685,000 new shares were placed at a price of EUR 44 per share, corresponding to 6.1 percent of the previous share capital. The transaction was accompanied by Hauck & Aufhäuser Privatbankiers Aktiengesellschaft as sole bookrunner. The Heuking team acted as transaction counsel.
Frankfurt-based Northern Data AG develops and operates high-performance computing solutions. When setting up data centers and operating and maintaining hardware, the company relies on proprietary software and hardware tools. Northern Data AG integrates issues of climate-neutral, cost-efficient energy management into their concepts right from the very start.
Counsel to Northern Data AG
Heuking Kühn Lüer Wojtek:
Dr. Thorsten Kuthe (Lead),
Anna Richter, LL.M.,
Sascha Beck, all Cologne
Dr. Katja Plückelmann, Düsseldorf
Counsel on U.S. law:
Sheppard, Mullin, Richter & Hampton