Bredin Prat advises the Mersen Group in connection with its share capital increase of approximately €100 million

Bredin Prat is advising the Mersen Group, a global expert in electrical specialties and advanced materials for high-tech industries, in connection with its share capital increase with preferential subscription rights for existing shareholders in France in a gross amount of approximately €100 million to finance its growth plan and complement cash generated by the Group and undrawn credit facilities.

The subscription price for the new shares is €28.0 per share (comprising a nominal value of €2.0 and an issue premium of €26.0).

Its strategic shareholder, Bpifrance Participations, has committed to subscribe for shares issued in the capital increase.

The Mersen Group intends to invest some €400 million, of which €300 million in capital expenditure over the period 2023-2025, to keep pace with accelerating customer demand in the SiC and Si semiconductor, electric vehicle and renewable energies markets. Around €100 million will be allocated to targeted acquisition projects.

The share capital increase will be open to the public in France only.

The subscription period will begin on 21 April 2023 and will end on 2 May 2023 inclusive. Delivery and settlement, as well as admission to trading, of the new shares will take place on 10 May 2023.

The Bredin Prat team advising the Mersen Group comprises:

• Corporate: Olivier Saba (partner), Douceline Chabord and Louis Cochou
• Tax: Anne Robert (partner), Adrien Soumagne