Hogan Lovells advises Delticom AG on a combined capital increase
Led by partners Michael Schlitt and Lutz Angerer, Hogan Lovells advised Delticom AG, with its brand ReifenDirekt the leading company in Europe for the online distribution of tyres and complete wheels, on a capital increase without subscription rights as well as a capital increase with subscription rights.
The new shares from the capital increase without subscription rights were placed with qualified investors by means of an accelerated bookbuilding process. The new shares from the rights issue were offered to qualified investors before the start of the subscription period. In the pre-placement, claw-back rights were used to ensure that new shares for which subscription rights are exercised are available for the company's shareholders. The special transaction structure that combines a 10% capital increase without subscription rights and a rights issue with an offering volume of up to EUR 8m allowed the company to increase its share capital by around 18% without issuing a prospectus. A total of 2,368,030 new registered shares were placed.
The new shares from the capital increase without subscription rights were admitted to trading on the regulated market of the Frankfurt Stock Exchange and the sub-segment of the regulated market with additional post-admission obligations (Prime Standard) on 10 June 2021 and the new shares from the capital increase with subscription rights on 30 June 2021.
Hogan Lovells Team for Delticom AG
Frankfurt am Main / München
Prof. Dr. Michael Schlitt (Partner), Dr. Lutz Angerer (Partner), Thomas Weber (Counsel), Dr. Susanne Ries (Of Counsel), Dr. Timo Lockemann, Christian Schröder (Associates), Eva-Christina Sommer (Business Lawyer) (all Corporate- and Capital Markets);
Delticom AG (Inhouse Legal): Frank Kurzer, Lara Streicher, Jan Mensching
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