Global law firm Norton Rose Fulbright has advised the e-mobility pioneer Voltabox AG on its initial public offering which took place on 13 October. The shares of Voltabox AG, a subsidiary of paragon AG, are traded on the prime standard regulated market of the Frankfurt stock exchange since last Friday. The initial public offering was supported by Bankhaus Lampe AG as sole global coordinator and was accompanied by Hauck & Aufhäuser Privatbankiers AG as joint bookrunner.
The Voltabox AG shares were offered both by way of public offering in Germany and Luxembourg as well as by way of private placements in other countries. The offered volume amounts to 6,325,000 shares, including five million new shares and an overallotment option of 825,000 additional new shares from a capital increase as well as a reallocation of 500,000 shares placed by the parent company paragon AG. Voltabox AG’s initial public offering was subscribed tenfold at the placement price of EUR 24. The entire placement volume including the reallocation and overallotment shares thus amounts to EUR 151.8 million, with gross issuing proceeds of EUR 139.8 million for Voltabox. In case of full exercise of the Greenshoe option, floating shares amount to approximately 40 per cent. The parent company paragon AG intends to retain its position as majority shareholder of Voltabox AG also in the long term.
Head of Norton Rose Fulbright’s German ECM practice, Dr. Frank Peter Regelin, comments:
„Such a successful stock exchange debut is magnificent. We are delighted that we were given the opportunity to support Voltabox AG in the process.”
Our Norton Rose Fulbright team was led by Frankfurt Partner Dr. Frank Peter Regelin and further comprised Of Counsel Oliver Polster, Associates Denis Dräger and Jan-Peter Heise (all Corporate/Capital Market Law, Frankfurt), Partner Tino Duttiné (Tax, Frankfurt), Associate Sarah Slavik-Schulz (Tax, Hamburg) as well as London-based US-Partner Thomas Vita, Of Counsel Kevin Connolly and Associate Kayla Kirk (all London) with regard to US law issues and Partner Raquel Guevara (Tax, Luxemburg).
Norton Rose Fulbright regularly provides legal advice to its long-standing client paragon AG in connection with corporate law issues as well as capital market transactions. Only recently, the Norton Rose Fulbright team surrounding Dr. Frank Peter Regelin have supported paragon AG on the issuance of a corporate bond with a total nominal amount of EUR 50 million in June 2017.
Voltabox AG is a high-growth system provider for electro-mobility in industrial applications. Its core business consists of secure, highly developed and high performance battery systems on lithium-ion basis which are produced both modular and in series. Voltabox has production sites at its headquarters in Delbrück (Germany) and Austin (USA) as well as a development site in Aachen (Germany).
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