Gleiss Lutz advises SLM Solutions on further capital measures
A Gleiss Lutz team has advised the listed SLM Solutions Group AG (“SLM"), a leading supplier of metal-based additive manufacturing technology (3-D printing), on further capital measures totalling approximately EUR 40 million.
In a capital increase against cash contributions under exclusion of shareholder subscription rights, SLM placed a total of 1,450,000 new shares with qualified institutional investors in Europe and the USA at a placement price of EUR 17.25 per share by way of an accelerated bookbuilding. In the process, the volume of the capital increase was able to be increased from up to 5 percent, as originally announced, to 7.3 percent of the share capital due to high demand during the bookbuilding. The gross issue proceeds from the capital increase amount to approximately EUR 25 million. The new shares are expected to be included in the existing trading of the company's shares in the Prime Standard segment of the Frankfurt Stock Exchange on 16 July 2021.
Gleiss Lutz also advised the company on the issuance of a second tranche of convertible bonds (2021/2026 convertible bond) with a volume of EUR 15 million as well as on the preceding vote of the holders of the first tranche of convertible bonds (2020/2026 convertible bond), by which the issuance of the 2021/2026 convertible bond had been approved. The proceeds from the two capital measures will be used to finance ongoing business operations and further investments in key strategic areas such as the next-generation SLM machine and further expansion of the international sales and service network.
SLM Solutions Group AG, with its registered office in Lübeck, Germany, is a leading global provider of metal-based additive manufacturing technology. Its shares are traded in the Prime Standard segment of the Frankfurt Stock Exchange. SLM develops and produces 3D printing machines and integrated system solutions in the field of selective laser melting. The company currently employs over 450 members of staff in Germany, France, Italy, the USA, Singapore, Russia, India and China.
The following Gleiss Lutz team advised SLM on the capital measures and on this year's shareholders' meeting and is currently also acting for SLM in a vote of the 2021/2026 convertible bondholders: Dr. Stephan Aubel (partner, lead, Corporate/Capital Markets), Dr. Kai Arne Birke (partner, Finance), Alexander Gebhardt (counsel), Jannik Hermes (all Frankfurt), Dr. Walter Andert (Berlin, all Capital Markets), Dr. Christina Aye (counsel, Frankfurt), Dr. Thorsten Gayk (counsel, Hamburg, both Corporate), Dr. Thomas Winzer (partner) and Katrin Braas (both Employment, Frankfurt).
Management Board member and General Counsel of SLM Solutions Group AG, André Witt, advised in-house on the capital measures and the shareholders' meeting.
The vote of the 2020/2026 convertible bondholders was conducted by Frankfurt notary Natalie von Rom.