Luther advises electrovac AG on successful stock market debut

electrovac AG, a specialist in hermetic glass-to-metal enclosures for the protection of safety- and system-critical electronics, celebrated its stock market debut today on the Regulated Market (Prime Standard) of the Frankfurt Stock Exchange. The electrovac share commenced trading at an opening price of EUR 7.50. The current market capitalisation thus amounts to approximately EUR 120 million. The lead underwriters were BankM AG and B. Metzler seel. Sohn & Co. Aktiengesellschaft.

An experienced team from Luther, led by Philipp Dietz and Thomas Weidlich, advised electrovac AG on all key legal aspects of the IPO. The advice covered, in particular, the conduct of legal due diligence on electrovac AG and its domestic and foreign subsidiaries, the drafting of the securities prospectus and the management of the prospectus approval process with BaFin, corporate law support for the transaction including the cash capital increase, the drafting and negotiation of the transaction documentation, the coordination of capital markets law requirements for admission to the Prime Standard, and capital markets law compliance.

Thanks in part to the legal advice provided by Luther, the IPO was a resounding success, says Dieter Thumfart, CEO of electrovac: “The Luther team not only provided us with legal support, but also thought and acted as a true partner. The depth of the advice, the reliability throughout the process and the personal commitment of every single team member contributed significantly to the fact that we were able to celebrate our stock market debut so successfully today.”

electrovac intends to use the gross proceeds primarily to expand its international production capacities, in particular to expand its site in Thailand, establish production in China and invest in the US market. Investments in research and development are also planned.

About electrovac AG:

electrovac AG, headquartered in Salzweg, is a specialist in hermetic enclosures, manufacturing state-of-the-art glass-to-metal sealing products to protect safety- and system-critical electronics. electrovac currently employs around 550 staff at four production sites in Germany, Austria and Thailand and supplies more than 250 customers worldwide. Its bespoke solutions range from niche products in small batches to mass-produced items in large quantities, which find wide application in electronics, sensor technology and actuators. These include safety systems such as airbags and seatbelt pretensioners, specialist solutions for the aerospace and defence industries required in satellite technology or military equipment, as well as numerous other solutions in the mobility and industrial sectors. Further information can be found at www.electrovac.com.

For electrovac:

Corporate law / Transaction advisory: Philipp Dietz, LL.M. (Partner, lead), Thomas Weidlich, LL.M. (Partner, lead), Leon C. Schmitter, LL.M. (Senior Associate), Dr Yuan Shen, LL.M. (Counsel), Dr Ann-Kathrin Jungen (Senior Associate)

Capital Markets and Company Law: Marx Dauth, LL.M. (Partner), Dr. Rolf Kobabe (Partner), Dr Eberhard Vetter (Of Counsel), Dr Andreas Meyer-Landrut (Of Counsel), Dr Marc Peters, LL.M. (Counsel), Tillmann Kamp (Associate)

Banking & Finance: Christoph Schauenburg, LL.M. (Partner), Jael Marquardt (Senior Associate)

Commercial: Volker Steimle (Partner), Ole-Jochen Melchior (Partner), David Ben Bündgens (Senior Associate)

IP/IT: Dr Katharina Preuss (Senior Associate), Franziska Tilgner (Senior Associate)

Labour: Kerstin Gröne (Partner), Dr Christoph Corzelius (Senior Associate), Sarah Zeck (Paralegal)

Real Estate / Public Law: Michael Kunkel, LL.M. (Partner), Bernhard Burkert, LL.M. (Partner), Daniel Stracke (Associate)

Luther Thailand: Fabian Lorenz, M.A. (Partner), Suchaya Tangsiri, LL.M. (Senior Associate), Lukas Baumgärtner, LL.M. (Senior Associate)

KWR, Austria: Prof. Dr Jörg Zehetner (Partner), Mag. Annika Kollar

Fidal, France: Anne Fréchette-Kerbrat (Partner), Dr Nicolas Boucant

Nixon Peabody (USA)

ARQIS (Japan)