Austrian law firm Weber & Co. acted as legal counsel to Erste Group Bank AG (Sole Bookrunner) in connection with the sale of 105,000 Marinomed Biotech AG shares by the shareholders Acropora Beteiligungs GmbH, VETWIDI Forschungsholding GmbH and BVT Beteiligungsverwaltung und Treuhand GmbH. This was the second successful ABB transaction in Marinomed shares within a few months.
26 January 2020.
In February 2019 Marinomed Biotech AG (Marinomed) successfully completed its initial public offering (IPO) on the Vienna Stock Exchange. Marinomed is a biopharmaceutical company that was created in 2006 as a spin-off from the University of Veterinary Medicine Vienna and focuses on the development of innovative products in the field of respiratory and eye diseases based on patented technology platforms.
In the course of the second successful ABB transaction within a few months, Acropora Beteiligungs GmbH, VETWIDI Forschungsholding GmbH and BVT Beteiligungsverwaltung und Treuhand GmbH are selling a total of 105,000 Marinomed shares from their holdings to institutional investors at a price of EUR 95 per share. Of the total 105,000 shares, 55,000 shares are sold from the intended target volume and a further 50,000 shares from the upsize alternative, which was fully utilized due to the high demand.
The proceeds from the ABB sale for Acropora Beteiligungs GmbH, VETWIDI Forschungsholding GmbH and BVT Beteiligungsverwaltung und Treuhand GmbH total approximately EUR 10 million. The settlement of the Marinomed shares placed in the ABB is expected to take place on 28 January 2020. After completion of the ABB, Acropora, VETWIDI and BVT still hold approximately 16.6% (Acropora), approximately 1.5% (VETWIDI) and approximately 1.4% (BVT) of the share capital of Marinomed Biotech AG.
In 2017, Marinomed had issued convertible bonds in preparation for an IPO. Weber & Co. acted as Austrian legal advisor to Erste Group both in the course of the IPO, the issuance of convertible bonds by Marinomed in 2017 and the first ABB in October 2019. In the context of this first ABB, aws Mittelstandsfonds Beteiligungs GmbH & Co. KG and Invest Unternehmensbeteiligungs AG sold a total of 115,000 Marinomed shares from their holdings to institutional investors, also at a price of EUR 95 per share.
Christoph Moser, partner at Weber & Co., who advised Erste Group, said: "We are very pleased that we were able to participate in the second successful accelerated bookbuilding in Marinomed shares for Erste Group. The volume of the ABB, the fully exercised upsize alternative and the price of EUR 95 per share are evidence of the exciting development of Marinomed and the successful placement work of Erste Group."
About Weber & Co.
Weber & Co. is one of the leading Austrian law firms and regularly advises on capital market law in connection with debt and equity issues. Based on decades of experience, the Vienna-based law firm offers advice on Austrian, European and international financing and
commercial law with a specialized team of lawyers. The partners of the firm are recognized
experts in their respective fields, working with the highest level of legal professionalism.
Share issues, initial public offerings (IPO) and institutional placements of blocks of shares
have been one of the firm's core areas of expertise in capital markets law for many years.