A team led by Dr. Thorsten Kuthe, Partner at Heuking Kühn Lüer Wojtek, successfully advised Northern Data AG on placing a capital increase with gross proceeds of EUR 60.7 million. The company intends to use the net proceeds to strengthen its balance sheet and to expand its shareholder structure. Furthermore, the proceeds will be used to accelerate the growth of existing business activities as well as for general corporate purposes.
The capital increase was carried out by issuing up to 563,968 new no-par value bearer shares against cash contributions, partially utilizing existing authorized capital and excluding shareholders’ subscription rights. All 563,968 new shares offered, corresponding to 3.55 percent of the current share capital, were placed at a price of EUR 107.63 per share, mainly with strategic investor Block.one and other institutional investors. Share capital was increased from EUR 15,879,707 to EUR 16,443,675. The new shares will be included, without prospectus, in the existing open market listing of Munich Stock Exchange (m:access).
Northern Data AG is a developer and operator of high-performance computing solutions. The Frankfurt-based company uses proprietary software and hardware tools to set up its data centers and to operate and maintain its hardware. Northern Data AG integrates issues of climate-neutral, cost-effective energy management into their concepts right from the very start.
The team led by Kuthe most recently advised Northern Data AG on a EUR 30 million capital increase in April 2020.
The transaction was accompanied by Hauck & Aufhäuser.
Counsel to Northern Data AG
Heuking Kühn Lüer Wojtek:
Dr. Thorsten Kuthe (Lead),
Anna Richter, LL.M.,
Christopher Görtz, all Cologne