Morrison Foerster Advises UmweltBank AG on Capital Measure

Morrision Foerster has advised UmweltBank Aktiengesellschaft on a capital increase.

The capital measure comprised a rights issue with oversubscription rights as well as a supplemental private placement of unsubscribed shares to selected investors (so-called rump placement). The capital increase was carried out as part of a public offering, but without the need for a securities prospectus. Instead, an eleven-page so-called “Annex IX Document” pursuant to Regulation (EU) 2017/1129, recently introduced through the EU Listing Act, was filed with BaFin, the Federal Financial Supervisory Authority of Germany. This allowed the capital increase to be implemented without the effort of preparing a full securities prospectus, following UmweltBank’s recent move to the Scale segment of the Frankfurt Stock Exchange, a growth market for SMEs.

Since its founding, UmweltBank has combined finance with ecological and social responsibility. It finances sustainable projects in the areas of renewable energy, ecological construction, and social infrastructure. With this capital increase, the bank aims to further expand its lending business, in particular to finance sustainable projects.

A team led by Morrison Foerster partners Dr. Dirk Besse and Dr. Sebastian Schwalme, with support by Tobias Flatt, associate (All Berlin, all Capital Markets)