Skip to main content


Freshfields advises SFC Energy on rights issue capital increase

Global law firm Freshfields Bruckhaus Deringer (‘Freshfields’) advises SFC Energy AG (‘SFC’) on a rights issue from authorised capital and an expected subsequent private placement.

The capital increase will be made against cash contributions by issuing up to 2,893,948 new shares at a subscription price of €19.50 per share. The new shares will be offered to existing shareholders of the company for subscription in a public offering. Unsubscribed shares will be offered for purchase in a private placement to qualified investors in Germany and certain jurisdictions outside the United States of America. The German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, 'BaFin') has approved a corresponding securities prospectus on 11 July 2022.

SFC expects gross proceeds from the capital increase of up to nearly €60 million. The company intends to use the net proceeds from the capital increase for regional and technological expansion, acceleration of its research and development activities and inorganic growth opportunities.

SFC Energy AG is a listed (regulated market; Prime Standard) leading supplier of hydrogen and methanol fuel cells for stationary and mobile hybrid power solutions. Headquartered in Brunnthal near Munich, the company operates production sites in Germany, the Netherlands, Romania and Canada. The company sells its products worldwide and has sold more than 55,000 fuel cells to date.

Freshfields' comprehensive corporate and capital markets advice included, inter alia, structuring and evaluating the specific capital increase as well as alternative strategic options, capital markets communication, negotiations with banks, drafting a securities prospectus and assisting in the approval process with BaFin.

The Freshfields team comprised:

  • Partners: Christoph H. Seibt (Lead), Simon Schwarz (both Corporate and Capital Markets, Hamburg/Frankfurt), Christian Ruoff (Tax, Hamburg), Stefan Pachinger (Capital Markets, Vienna).
  • Counsel: Kyle Miller (US Capital Markets, Frankfurt), Sascha Arnold (Regulatory, Hamburg)
  • Principal Associates: Maximilian Stöwahse (Corporate and Capital Markets, Hamburg), Victoria Bazil (Capital Markets, Vienna), Marlen Vesper-Gräske (Compliance, Hamburg)
  • Associates: Felix Abetz (Corporate and Capital Markets, Hamburg), Tobias Franz (Tax, Hamburg), Julian Boatin (Data Protection, Düsseldorf), Yvonne Wolski (IP/IT, Frankfurt), Felicitas Weber (Regulatory, Berlin), Hubertus Reinbach (Labour Law, Hamburg)