Homburger advised Meyer Burger Technology
On June 19, 2020, Meyer Burger Technology announced that it had resolved to embark on a major strategic transformation from a supplier of photovoltaic production equipment to a manufacturer of solar photovoltaic cells and modules. On the basis of Meyer Burger’s Heterojunction and SmartWire technologies, production of photovoltaic cells and modules is envisaged to start in Germany in 2021.
An extraordinary general meeting of Meyer Burger resolved to effect a capital increase targeting gross proceeds of CHF 165 m. The capital increase comprises a rights offering to existing shareholders and a private placement of new shares (PIPE). The investors in the PIPE also entered into backstop underwriting commitments in the rights offering. Closing is expected to occur on July 29, 2020.
