Noerr advises Borussia Dortmund on capital increase with subscription rights

Noerr has advised Borussia Dortmund GmbH & Co. KGaA (Borussia Dortmund) on a capital increase with subscription rights. Lead advisors were capital markets experts Stephan Schulz, Hamburg, and Julian Schulze De la Cruz, Frankfurt.

As part of the transaction, Borussia Dortmund will issue 18,396,220 new shares at a subscription price of EUR 4.70, generating gross issuing proceeds in the amount of EUR 86.5 million. Full placement is secured by means of firm subscription and investment agreements concluded with existing shareholders and investors, as well as through a placement guarantee provided by the underwriting bank.

Borussia Dortmund intends to use the issuing proceeds primarily to repay financial liabilities. The remaining funds will then be used to compensate for potential losses that might be incurred as a result of any new COVID-19 related measures or fluctuations in liquidity during the ongoing business year and, finally, as an investment in the team of licensed players.

The Noerr team has comprehensively advised Borussia Dortmund in connection with the transaction, in particular with respect to the preparation and approval of the securities prospectus and the conclusion of the firm subscription and investment agreements. Noerr regularly advises Borussia Dortmund in matters related to capital markets law.

Advisors for Borussia Dortmund: Noerr Partnerschaftsgesellschaft mbB

Dr. Stephan Schulz (Hamburg), Dr. Julian Schulze De la Cruz (Frankfurt) (joint lead), Dr. Holger Alfes (Frankfurt), (all capital markets law)

Associates: Dr. Jan Hoffmann Linhard (Hamburg), Jens Michael Göb, Thomas Thies (both Frankfurt), Alison Heinze (Berlin), (all capital markets law)

Inhouse: Dr. Robin Steden