Deals & Cases

Montana Aerospace AG performs Accelerated Bookbuilding and Capital Increase

18 November 2021 – Walder Wyss acted as Swiss counsel and Listing Agent to Montana Aerospace AG, a leading, highly-vertically integrated manufacturer and supplier of system components and complex assemblies for the aerospace, e-mobility and energy sectors with worldwide engineering and manufacturing operations, on a capital increase with gross proceeds of approximately CHF 152.3 million.

A total of 5.4 million new registered shares were placed with international institutional investors, including qualified institutional buyers in the United States, in a private placement by way of an accelerated bookbuilding process. Subscription rights of the existing shareholders were excluded. The net proceeds from the share placement will be used to raise funds to be able to further accelerate organic growth and M&A activities.

In connection with the cash capital increase, Montana Tech Components AG, the majority shareholder of Montana Aerospace, converted the major part of its outstanding hybrid loan in the amount of CHF 141.0 million into new Montana Aerospace shares. The new shares will be listed on the SIX Swiss Exchange.

The team was led by Urs P. Gnos (Corporate/M&A), and further included Daniel Dedeyan (Capital Markets), Christian Hagen (Corporate/M&A), Dzevrije Zendeli (Corporate/M&A) and Jenny von Arx (Corporate, M&A).

Joh. Berenberg, Gossler & Co KG acted as Sole Global Coordinator and Joint Bookrunner, and Commerzbank AG acted as Co-Lead Manager.

In Germany, Montana Aerospace AG was advised by DLA Piper.