Gleiss Lutz has advised Northern Data AG on a cash capital increase resolved by the company's management and supervisory boards on 25 June 2023. Prior to that, Gleiss Lutz had already assisted Northern Data with an extraordinary shareholders' meeting held on 12 June 2023.
In the course of the transaction, the company's share capital will be increased by EUR 2,619,706 to EUR 28,816,771. The capital measure will be carried out by the issuance and private placement of 2,619,706 new par-value bearer shares, each with a notional interest in the company's share capital of EUR 1.00 and carrying full dividend rights as from 1 January 2022, against cash contributions at an issue price of EUR 18.31 per share, making partial use of the existing authorised capital and excluding the statutory subscription right of the company's shareholders. The transaction will bring the company gross issue proceeds of approximately EUR 48 million.
The net proceeds from the capital increase are to be used to finance further growth of the Northern Data Group.
Northern Data AG is a global B2B technology firm with registered office in Frankfurt am Main and data centers all over the world. It specialises in High Performance Computing (HPC) infrastructure, ASIC-based solutions and GPU-based cloud technology.
Gleiss Lutz advises Northern Data on a regular basis, most recently in April 2023 on another increase in share capital and in 2021 on its acquisitions of the bitcoin miner Bitfield and IT infrastructure provider Decentric Europe.
Northern Data AG's in-house Group Chief Legal and Compliance Officer Jim Black and Deputy General Counsel Europe Dr. Martin Rinscheid also provide advice.
The following team of Gleiss Lutz lawyers advised Northern Data AG: Dr. Stephan Aubel (lead, partner), Alexander Gebhardt (counsel, both Corporate and Capital Markets, Frankfurt), Dr. Thorsten Gayk (Corporate, Hamburg), Dr. Walter Andert (Corporate and Capital Markets, Berlin), Dr. Christina Aye (counsel), Anne Görg (both Corporate, Frankfurt).
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