Heuking advises Delignit AG on capital increase

A team led by Heuking partner Dr. Thorsten Kuthe, Cologne, legally advised and supported Delignit AG and, as transaction counsel, Pareto Securities AS, the accompanying bank, in connection with a capital increase. With an issue volume of EUR 8 million, the capital increase was placed in full, and the offering was oversubscribed.

Delignit AG (ISIN DE000A0MZ4B0) is a leading manufacturer of ecological, hardwood-based products and system solutions. The capital increase from authorized capital with the granting of subscription rights as resolved on June 20, 2023 was placed in full. 2,048,475 new shares were issued at a subscription/placement price of EUR 3.90. The gross issue volume therefore amounts to about EUR 8 million. 474,686 shares (representing about 23% of the transaction) were allocated to existing shareholders with subscription rights, and 1,573,789 shares (about 77% of the transaction) were placed with institutional investors in a private placement. Beyond the existing shareholders, the transaction was characterized by great demand from high-quality new investors and was oversubscribed. The capital increase successfully broadened the company’s investor base and increased the free float from some 25% to now around 40%.

Delignit group is experiencing high demand for sustainable system solutions and also recognizes additional market opportunities. The net proceeds from the capital increase will be used for the expansion and automation of production capacities. As a recognized development, project and serial supplier to leading automotive groups, Delignit group is, among other things, world market leader for supplying the automotive industry with cargo bay protection and cargo securing systems for light commercial vehicles. With a variety of applications and a vertical integration that are unique in its industry, Delignit group serves numerous other technology sectors, for example as a worldwide system supplier to reputable rail stock manufacturers.

Counsel to Delignit AG
Heuking Kühn Lüer Wojtek:

Dr. Thorsten Kuthe (Lead),
Stefan Westerheide, LL.M. oec,
Anna Richter, LL.M.,
Tatiana Vorotnitskaya, k.i.n. (all Capital Markets), all Cologne

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