Brief: German Startups Group Achieves Further Commitments From Its Merger Partner

German Tech Holding GmbH & Co. KGaA

04/08/2020 15:54

Aug 4 (Reuters) - GERMAN STARTUPS GROUP GMBH & CO KGAA
 GSJGn.DE :
    * GERMAN STARTUPS GROUP ACHIEVES FURTHER SIGNIFICANT
COMMITMENTS
FROM ITS MERGER PARTNER
    * TO IMPLEMENT MERGER, GSG BUYS SGT CAPITAL, SUBJECT AGAINST
ISSUANCE OF 50.0 MILLION NEW GSG SHARES, UNDER EXCLUSION OF
SUBSCRIPTION RIGHTS OF EXISTING GSG SHAREHOLDERS, AND AGAINST
ISSUANCE OF MANDATORY CONVERTIBLE BOND, WHICH WILL BE CONVERTED
INTO AT LEAST 1.0 MILLION ADDITIONAL NEW GSG SHARES
    * IN BASE CASE SCENARIO OF A SGT FUND VOLUME OF 1 BILLION
USD,
CONTRIBUTORS WILL THUS RECEIVE A TOTAL OF 51.0 MILLION GSG
SHARES
    * SGT CAPITAL EXPECTS SGT FUND VOLUME OF 1 BILLION USD AND
THUS,
BASE CASE SCENARIO OF TRANSACTION TO BE REACHED ALREADY WITHIN
2020 AND TO SIGNIFICANTLY EXCEED IT IN MID TERM
    * UPON COMPLETION OF MERGER, COMBINED COMPANY WILL BE
RENAMED IN
SGT GERMAN PRIVATE EQUITY GMBH & CO. KGAA AND RELOCATE ITS
HEADQUARTER TO FRANKFURT/MAIN

Source text for Eikon:  ID:nEQ989RXca 
Further company coverage:  GSJGn.DE 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 778 51 10;))