Noerr advises Mutares on capital increase with subscription rights and uplisting in the Regulated Market (Prime Standard) of the Frankfurt Stock Exchange

Noerr has advised investment company Mutares SE & Co. KGaA (Mutares), which has so far been listed in the Scale 30 selection index of Deutsche Börse, on a successful capital increase with subscription rights and uplisting to the Regulated Market (Prime Standard) of the Frankfurt Stock Exchange. Noerr’s joint lead partners were Ralph Schilha and Julian Schulze De la Cruz.

Mutares raised gross proceeds of approximately €100 million with the significantly oversubscribed capital increase with subscription rights from authorised capital. The capital increase comprised 5,140,439 new shares, of which approximately 98.4% were subscribed as part of the subscription offer. The remaining new shares were placed entirely with institutional investors. In connection with the capital increase, the existing shares and new shares are expected to be uplisted to the Regulated Market (Prime Standard) of the Frankfurt Stock Exchange on 20 October 2021. Hauck & Aufhäuser and Jefferies acted as joint global coordinators for the transaction. Duxebridge Capital acted as financial advisor to Mutares.

As a private equity investor, Mutares specialises in acquiring and realigning companies and parts of companies in transition situations which have potential for operational development. In the 2020 financial year, Mutares generated consolidated annual revenues of around €1.6 billion with more than 12,000 employees worldwide. Mutares intends to apply the proceeds from the capital increase to use the opportunities to accelerate further growth, in particular by acquiring new portfolio companies, performing add-on acquisitions and making other investments in existing portfolio companies.

The Noerr team advised Mutares comprehensively on the transaction, in particular on drafting the securities prospectus, implementing the capital increase under corporate law aspects as well as on issues involving capital markets compliance and corporate governance. Noerr regularly acts for Mutares in the areas of corporate and capital markets law and has already advised Mutares on transactions such as its conversion into an SE & Co. KGaA and the placement of a Nordic bond.

Advisors to Mutares SE & Co. KGaA: Noerr Partnerschaftsgesellschaft mbB

Dr Ralph Schilha, Dr Julian Schulze De la Cruz (joint team lead, Corporate/Capital Markets, Munich and Frankfurt), Dr Laurenz Wieneke, Dr Holger Alfes (both Corporate/Capital Markets, Frankfurt), Dr Martin Haisch (Investment Law, Frankfurt), Sebastian de Schmidt (Corporate/Capital Markets, Frankfurt)

Associates: Dr Philip M. Schmoll (Lead Associate), Jens Göb, Dr Dirk Buken, Thomas Thies (all Frankfurt), Dr Timm Gaßner, Dr Christian Haagen (both Munich), Alison Heinze (Berlin, all Corporate/Capital Markets)

US tax law: Cooley LLP