Noerr advises DFV Deutsche Familienversicherung on a capital increase
Noerr has advised DFV Deutsche Familienversicherung AG, the first Insurtech to be listed in Europe, on its successful capital increase.
The capital increase against cash contributions was carried out using approved capital while excluding shareholders’ subscription rights. Using an accelerated bookbuilding process, a total of 1,326,160 new shares were placed with institutional investors as part of a private placement at a price of EUR €24.40 per new share; this corresponds to 10% of the previous share capital.
The capital increase generates around €32.4m in gross issue proceeds. The company will use the net proceeds to continue its current growth strategy, including the establishment of new risk carriers and the expansion of the product portfolio.
Noerr already advised the company in the past on its successful IPO and on its first virtual general meeting.
Advisors to DFV Deutsche Familienversicherung: Noerr LLP
Dr Julian Schulze De la Cruz (team lead), Dr Holger Alfes (both Capital Markets, Frankfurt)
Associates: Dr Philip M. Schmoll, Thomas Thies (both Capital Markets, Frankfurt)
Advisors US law: Travers Smith LLP
Dan McNamee, Brent Sanders