A team led by Dr. Thorsten Kuthe, Partner at Heuking Kühn Lüer Wojtek, advised 7C Solarparken AG on a capital increase of about EUR 12.9 million. In a private placement, 3,235,644 new shares were placed with institutional investors in Germany and other European countries at a price of EUR 4.00 per share. The new shares are entitled to dividends from January 1, 2020. The transaction was several times oversubscribed.
The company intends to use the issue proceeds from the capital increase as a building block for financing its targeted portfolio growth in Germany and Belgium. The Executive Board aims to increase the group’s portfolio to 500 MWp by the end of 2023, with 400 MWp to be owned by the group.
7C Solarparken AG is a solar power plant operator focusing on the German solar market. More than 95% of the portfolio’s assets are located in Germany, mainly in Bavaria and Saxony with a smaller part located in Belgium. 7C has sites in Bayreuth and Mechelen, Belgium.
The team led by Kuthe most recently advised 7C Solarparken on a capital increase in October 2020.
Counsel to 7C Solarparken AG
Heuking Kühn Lüer Wojtek:
Dr. Thorsten Kuthe (Lead),
Stefan Westerheide, LL.M. oec.,
Dr. Gero Lingen, (all Capital Markets), all Cologne