Gleiss Lutz has advised Northern Data AG (“Northern Data”) in connection with a capital increase against cash contribution resolved by the management board and supervisory board of the company on 14 December 2020. Previously, Gleiss Lutz already assisted Northern Data with its annual general meeting which was, for the first time, held virtually on 10 November 2020.
As part of the capital increase, 900,000 new shares will be issued, making partial use of the authorised capital resolved upon by the annual general meeting on 10 November 2020; this corresponds to 6.15% of the company’s current share capital. The existing shareholders’ subscription rights are excluded and the new shares are being issued to strategic financial investors at a price per share of EUR 58.30. The company will receive gross proceeds of EUR 52,470,000 from the transaction. After registration of the implementation of the capital increase with the commercial register, the shares will be included, without a prospectus, in the existing listing of the company’s shares in the open market segment m:access of the Munich Stock Exchange.
Northern Data develops and operates global infrastructure solutions in the field of high-performance computing (HPC) and provides the infrastructure for various HPC applications in areas such as bitcoin mining, artificial intelligence, blockchain, big data analytics, Internet of Things and rendering. Northern Data offers its HPC solutions both in large, stationary data centres and in mobile high-tech data centres that can be set up at any location worldwide. The company combines self-developed software and hardware with intelligent concepts for a sustainable energy supply.
The following Gleiss Lutz team advised Northern Data on the capital increase and the annual general meeting: Dr. Stephan Aubel (partner, lead), Dr. Thorsten Gayk (counsel, Hamburg), Dr. Christina Aye (counsel), Alexander Gebhardt (counsel, both Frankfurt), Dr. Walter Andert (Berlin), Jannik Hermes (Frankfurt, all corporate and capital markets).
Northern Data’s general counsel Michaela Huber advised in-house on the capital increase and the annual general meeting.
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