7C Solarparken places capital increase with Heuking
7C Solarparken AG successfully concluded a capital increase with issue proceeds of some EUR 10.3 million. A team led by Dr. Thorsten Kuthe, Partner at Heuking Kühn Lüer Wojtek, advised 7C Solarparken on the capital increase. The issue proceeds from the capital increase are designed to contribute to financing of strategic 2020-2022 plan, which provides for portfolio growth.
The capital increase was carried out by issuing 2,900,000 new shares in exclusion of shareholders’ subscription rights. By way of private placement, the new shares were placed with institutional investors in Germany and other European countries in an accelerated bookbuilding process at a placement price of EUR 3.54 per share. The transaction was several times oversubscribed. M.M.Warburg acted as Sole Lead Manager and Sole Bookrunner.
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, predominantly in Bavaria and Saxony. A smaller portion is located in Belgium. 7C has its sites in Bayreuth and Mechelen, Belgium.
The team led by Kuthe regularly advises 7C Solarparken. Most recently, it had advised the group on a capital increase in December 2019.
Counsel to 7C Solarparken AG
Heuking Kühn Lüer Wojtek:
Dr. Thorsten Kuthe (Lead, Capital Markets), Cologne
Dr. Gero Lingen (both Capital Markets), both Cologne