Frankfurt – Global law firm K&L Gates LLP, acting as transaction counsel, advised issuer EXASOL AG and underwriter Hauck & Aufhäuser Privatbankiers Aktiengesellschaft on a cash capital increase of EXASOL AG amounting to ten percent of the share capital.
All offered shares were sold in a private placement to institutional investors in Germany and abroad, including qualified institutional buyers in the USA pursuant to Rule 144A under the US Securities Act of 1933. EXASOL AG generated gross proceeds of more than 43 million euros from the placement.
The new shares issued in the course of the transaction will be included in the existing trading on the Scale segment of the Frankfurt Stock Exchange without the publication of a prospectus.
As transaction counsel, K&L Gates advised on all legal aspects of the transaction, in particular, stock corporation law and securities laws, including the placement with U.S. investors. The firm’s global capital markets practice group regularly advises clients on cross-border transactions.
Headquartered in Nuremberg, Germany, EXASOL AG is a global technology company providing a next generation in-memory analytical database that enables customers to access and analyze data at high speed and scale.
The transaction was led by corporate partner Dr Martina Ortner (Munich) and corporate and capital markets partner Boris Kläsener (Frankfurt). They were supported by corporate associate Richard Resch (Munich), while capital markets partners Sean Jones and Patrick Rogers (both Charlotte), asset management and investment funds partner Todd Gibson (Boston) and tax partner Adam Tejeda (New York) advised on U.S. law.