A team led by stock corporations law and capital markets law specialist Dr. Mirko Sickinger, Partner at Heuking Kühn Lüer Wojtek’s Cologne office, advised 11880 Solutions AG on a mixed capital increase from authorized capital against cash and non-cash contributions with issuance of up to 3,893,000 new shares with subscription rights as well as on the acquisition of Fairrank GmbH.
united vertical media GmbH, 11880 Solutions AG’s main shareholder, is contributing Fairrank GmbH to 11880 Solutions AG as a contribution in kind as part of the capital increase and will receive 2,707,200 new shares. The acquisition of online marketer Fairrank will complement 11880 Solutions AG’s business model and expand its core business.
At a price per share of EUR 1.25, the subscription period has commenced on August 27, 2020 and will end on September 10, 2020. The new shares are entitled to dividends effective January 1, 2020 and are expected to be admitted to trading on Frankfurt Stock Exchange’s Prime Standard on or shortly after September 28, 2020.
Headquartered in Essen, 11880 Solutions AG has provided reliable search results, at 11880* and 11880.com , for private individuals and local and national providers in all industries for more than 20 years. Under the number 11880*, Germany’s second-largest directory assistance service offers personal support, while the 11880.com online business directory and the eponymous app provide targeted information with direct connection to the relevant providers in the desired region.
Counsel to 11880 Solutions AG
Heuking Kühn Lüer Wojtek:
Dr. Mirko Sickinger, LL.M. (Columbia University) (Lead, Stock Corporations and Capital Markets), Cologne
Dr. Martin Konstantin Thelen, LL.M. (Columbia University) (both Stock Corporations and Capital Markets), both Cologne
Adam Brockmann (both Tax), both Frankfurt