Lenz & Staehelin advises Ascend on merger with EvoNext
Lenz & Staehelin is advising Ascend Sport Technology and its shareholders as the Swiss sports technology holding company and SIX-listed EvoNext Holdings have signed a transaction agreement to combine the two companies through a statutory merger.
The deal values Ascend’s equity at CHF 500 million and EvoNext at CHF 2.50 per share.
Deal structure
As part of the transaction, EvoNext will carry out a share placement aimed at achieving an appropriate free-float. The placement will be composed mainly of secondary shares, alongside a smaller primary issuance intended to support the combined entity’s future growth. Completion of the merger remains subject to approval by the extraordinary general meetings of both Ascend and EvoNext, as well as other customary closing conditions.
Legal advisers
The team Lenz & Staehelin team is led by Tino Gaberthüel and Simone Ehrsam, both of the firm’s M&A practice, and also includes Patrick Schärli, who covers capital markets matters, together with Lukas Aebi and Aron Liechti on tax matters, and Joël Wernli on the M&A side.
