Heuking Advises The Naga Group AG on Capital Increase
September, 2021 - Germany
Dr. Thorsten Kuthe of Heuking Kühn Lüer Wojtek and his team advised The Naga Group AG on a capital increase. Naga Group will be issuing some 4.2 million new shares at a placement price of EUR 5.40 per share, generating issue proceeds of EUR 22.7 million. The company intends to use the net proceeds from the capital increase to accelerate its marketing and growth activities and expand international growth.
As part of the capital increase, Apeiron Investment Group Ltd, the private investment company of businessman and investor Christian Angermayer, and Igor Lychagov, founder of Exness (one of the world’s largest brokerage firms with a monthly trading volume of USD 1 trillion), joined as new strategic and long-term investors. In addition to participating in the capital increase, Apeiron entered into a share purchase agreement with its Elevat3 strategy, operating in partnership with Peter Thiel’s Founders Fund, to purchase a block of shares from FOSUN Group and is in negotiations to acquire additional shares from other shareholders. These transactions are subject to regulatory approvals. In total and upon full completion, Apeiron is targeting a stake of approximately 22 percent in NAGA.
Naga Group combines a social network with a trading platform, crypto infrastructure, and payment applications. Founded in 2015, the company has about one million customers and 300 employees. The platform allows for exchanges with other traders, provides autocopy features for successful members’ trades for millions of transactions.
Kuthe’s team had already advised Naga on its IPO in the Scale segment in 2017 and most recently on a convertible bond issue.
Counsel to Naga Group
Heuking Kühn Lüer Wojtek:
Dr. Thorsten Kuthe (Lead, Capital Markets),
Anna Richter, LL.M.,
Stefan Westerheide, LL.M. oec,
Meike Dresler-Lenz,
Linda Karl,
Ebru Köroglu (all Capital Markets) all Cologne
