7C Solarparken capital increase fully placed
With a team led by Dr. Thorsten Kuthe, Partner at its Cologne office, Heuking Kühn Lüer Wojtek advised 7C Solarparken AG on a capital increase from EUR 69,420,430 by up to EUR 6,942,043. Partially utilizing existing authorized capital and excluding shareholders’ subscription rights, 6,942,043 new no-par value bearer shares were issued against cash contributions.
The new shares were placed in full by way of a private placement exclusively with institutional investors in Germany and other European countries at a placement price of EUR 3.72 per share. Gross issue volume was around EUR 25.8 million. The issue proceeds from the capital increase will form the equity for expanding the group’s asset portfolio to 500 MWp, including 400 MWp of IPP portfolio.
7C Solarparken AG is a solar power plant operator focusing on the German solar market. Over 95 percent of the portfolio’s assets are located in Germany, predominantly in Bavaria and Saxony with a smaller part located in Belgium. 7C has sites in Bayreuth and Mechelen, Belgium.
The team led by Kuthe regularly advises 7C Solarparken. Most recently, it advised the solar power plant operator on a capital increase of about EUR 12.9 million in December 2020.
Counsel to 7C Solarparken AG
Heuking Kühn Lüer Wojtek:
Dr. Thorsten Kuthe (Lead),
Stefan Westerheide, LL.M. oec.,
Linda Karl (all Capital Markets), all Cologne