Heuking advises mic AG on rights issue with issue volume on excess of EUR 10 million and closing of the Pyramid acquisition

A team led by Boris Dürr and Dr. Thorsten Kuthe, both Partners at Heuking Kühn Lüer Wojtek, successfully advised mic AG on a cash capital increase. The company intends to use the gross issue proceeds of EUR 10,868,475 million to finance its acquisition of Pyramid Computer GmbH.
 
About 48 percent of the 3,622,825 new shares issued at EUR 3 per share, were subscribed under the indirect subscription rights of shareholders. The remaining 52 percent of the new shares were placed in a private placement with institutional investors and to oversubscription and DirectPlace orders. The private placement was three times oversubscribed. The new shares will be included in Frankfurt Stock Exchange’s Scale segment.

mic AG invests in young growth companies and in medium-sized companies in the IT, electronics, fiberoptics, and optics sectors. The current capital increase was carried out to finance the acquisition of Pyramid Computer GmbH. Jointly with the cash capital increase carried out in November 2020 with gross proceeds of EUR 6.7 million and the acquisition loan from UniCredit of EUR 5 million, the cash component for the acquisition of Pyramid Computer GmbH has been fully financed. 

The Heuking team comprehensive advised mic AG on all legal aspects of the capital increase and, in particular, drafted the required securities prospectus and assisted in its approval by BaFin.

Counsel to mic AG
Heuking Kühn Lüer Wojtek:
Boris Dürr (Lead, Corporate/M&A), Munich
Dr. Thorsten Kuthe (Capital Markets), Cologne
Anna Richter, LL.M. (Capital Markets), Cologne
Christian Schild, LL.M. (Queen Mary University of London), 
Dr. Christoph Küster (both Corporate /M&A), both Munich