Morrison Foerster Advises Cherry SE on Successful Rights Issue
Morrison Foerster (“MoFo”) is advising Cherry SE (“Cherry”) on the reorganization of its equity capital.
Founded in 1953, Cherry is an international manufacturer of computer input devices, including mechanical keyboards, mice, and headsets for office, gaming, hygiene, and security applications, as well as hardware and software solutions for digital healthcare.
The capital measure comprised a capital reduction to restore the marketability of Cherry’s shares, followed by a rights offering. To facilitate the timely execution of the transaction, the capital reduction and the rights offering were implemented in parallel. In addition, a portion of the major shareholder’s subscription rights was pre-placed. As part of the transaction, Cherry issued a total of 9,720,000 new shares. The rights offering was fully subscribed, and the proceeds are intended to be used primarily to support Cherry’s operational transformation.
The matter is led by Berlin Capital Markets/M&A partner Dr. Sebastian Schwalme. The Morrison Foerster team also includes partner Dr. Dirk Besse, counsel Julian Gebauer, counsel Dr. Moritz Heuser, and senior associate Dr. Omid Ebrahimzadeh (all Corporate/Capital Markets/M&A).




