A team of Gleiss Lutz lawyers is advising SLM Solutions on the announced public takeover bid by Nikon and a capital increase.
As part of a capital increase excluding shareholders' subscription rights of around 10%, Nikon will exclusively subscribe 2,270,172 new shares at a price of EUR 20.00 per new share. Nikon is one of the world's leading suppliers of products and solutions based on advanced opto-electronics and precision technologies. SLM Solutions is expecting to raise gross issue proceeds of around EUR 45.4 million from the capital increase.
In a separate move, the company entered into an investment agreement with Nikon to support SLM Solutions' long-term growth and business strategy. Nikon then announced its intention to submit a voluntary public takeover bid for all of the company's outstanding shares at a price of EUR 20.00 per share, representing a premium of 75.4% on the XETRA closing price on 1 September 2022. Nikon also intends to make an offer to purchase the bonds of all holders of convertible bonds issued by SLM Solutions and due for redemption in 2026.
Headquartered in Germany, SLM Solutions is a global provider of integrated solutions for additive metal manufacturing, and has subsidiaries in Canada, China, France, India, Italy, Japan, Singapore, South Korea and the United States. Its shares are traded in the Prime Standard segment of the Frankfurt Stock Exchange.
In-house, the transaction is being handled by General Counsel André Witt and Senior Legal Counsel Melanie Remy.
The following team of Gleiss Lutz lawyers advised SLM: Dr. Stephan Aubel (partner, Corporate and Capital Markets, Frankfurt), Martin Hitzer (partner, Corporate, Düsseldorf, both lead), Alexander Gebhardt (counsel), Dr. Jan-Alexander Lange (counsel, both Finance, Frankfurt), Dr. Walter Andert (Corporate and Capital Markets, Berlin), Dr. Charlotte Evers (Corporate), Dr. Jacob von Andreae (partner), Matthias Hahn, Aylin Hoffs, Vivien Etzkorn (all Foreign Trade), Dr. Martin Raible (partner), Antonia Harbusch (both Competition/Antitrust, all Düsseldorf), Dr. Thomas Winzer (partner), Dr. Tobias Abend (counsel, both Employment, Frankfurt), Kevin Löffler (Corporate, Frankfurt).
Gleiss Lutz advises SLM Solutions on a regular basis, having advised the company on its IPO in 2014 as well as on numerous capital measures and transactions since then.
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