A Gleiss Lutz team is advising Gebr. Schmid GmbH (SCHMID Group) on its planned listing on the New York Stock Exchange (NYSE) and related transactions. The company concluded a business combination agreement with Pegasus Digital Mobility Acquisition Corp., a special purpose acquisition company (SPAC), on 31 May 2023. The de-SPAC transaction is based on the SCHMID Group's enterprise value of around USD 640 million. The NYSE listing is expected to take place in the fourth quarter of 2023.
The SCHMID Group is a global solutions provider for the high-tech electronic, photovoltaics, glass, and energy systems industries. Founded in 1864, the SCHMID Group has more than 800 employees worldwide and technology centres and manufacturing sites in multiple locations, including in Germany and China. The SCHMID Group specialises in designing customised equipment and processes to build, connect and structure active layers in high-tech applications.
Pegasus Digital Mobility Acquisition Corp. is a NYSE-listed SPAC domiciled in the Cayman Islands and formed with the purpose of effecting mergers, takeovers, corporate acquisitions, share exchanges, reorganisations and similar transactions. Pegasus was founded by StratCap, LLC, an investment management organisation focused on digital economy investments.
In addition to Gleiss Lutz, Fenwick & West is acting as legal advisor to the SCHMID Group in connection with the transaction.
The following Gleiss Lutz team is advising the SCHMID Group:
Dr. Stephan Aubel (partner, Corporate, Frankfurt), Dr. Jochen Tyrolt (partner, M&A), Dr. Hansjörg Scheel (partner, Corporate, both Stuttgart, all lead), Alexander Gebhardt (counsel, Finance, Frankfurt), Dr. Walter Andert (Corporate, Berlin), Dr. Julius-Vincent Ritz (M&A, Stuttgart), Hannah Walter (Corporate), Johannes Schrägle (counsel), Nikolas Frey, Dr. Valentin Zemmrich (all M&A, all Stuttgart).