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BROWSE ABOUT USAshurst advised Joh. Berenberg, Gossler & Co. KG (Berenberg) on the successful capital increase of NFON AG (NFON), raising gross proceeds of €26,347,212.50. This equates to an increase of the company's current share capital by approximately 10%. Berenberg acted as sole global coordinator and sole bookrunner.
The net proceeds from the transaction are to be used for the further growth of the company, in particular the further development of its product portfolio through internal development projects or technology investments, the expansion of the pan-European partners network as well as marketing activities.
The capital increase was effected with partial use of the authorized capital, shareholders' subscription rights were excluded. The 1,505,555 new shares were successfully placed with institutional investors via an accelerated bookbuilding process at a placement price of 17.50 EUR per share. For the efficient execution of the placement, the shares were made available to Berenberg by an anchor shareholder by way of a securities loan, which will be repaid after registration of the capital increase.
The Ashurst team was led by partner Matthias von Oppen (Corporate Transactions). He was assisted by partner Dr Gerrit Clasen (Stock Corporation Law) and senior associate Dr Valentin Pfisterer (Corporate Transactions). Ashurst regularly acts for Berenberg in relation to corporate finance matters.
On Berenberg's side, Dr Martin Kniehase and Joanna Wilczynska-Gluch provided legal counsel on the transaction.
Headquartered in Munich, NFON is the only pan-European cloud PBX provider, counting more than 40,000 companies across 15 European countries among its customers.
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