Equity Capital Markets Transactions

Unifiedpost is a leading pan-European cloud-based Fintech company offering a platform for administrative and financial services purpose-built for SMEs and corporates.

Ticker: UPG BB Equity
Country: Belgium
Sector: Technology (FinTech)
Listing: Regulated Market of Euronext Brussels

Market Cap pre Transaction: c. EUR 700m
Selling Shareholders: Various individuals, who invested already pre-IPO

Berenberg Role: Sole Global Coordinator & Sole Bookrunner
Timing:

• Launch: 24 December 2020
• Pricing: 24 December 2020

Immobel is a fully integrated property developer.

Ticker: IMMO BB
Country: Belgium
Sector: Real Estate
Main Listing: Regulated Market of Euronext Brussels

Market Cap pre Transaction: c. EUR 645m
Offer Structure: 100,000 treasury shares (c. EUR 6.4m)
Issue Price: EUR 64.40 per share

Berenberg Role: Sole Bookrunner
Timing: 18 December 2020

Sono Motors is a German-based manufacturer of electric vehicles with a patented solar technology for self-charging.

Country: Germany
Sector: EV

Deal type: Growth Funding

Investment size: EUR 45m

Use of Proceeds: Funding of the further development of the Company’s Solar Electric Vehicle

Berenberg Role: Exclusive Financial Advisor to Sono Motors
Timing: December 2020

AbCellera is a biotech company specializing in therapeutic antibodies. The company screens, analyzes, and develops millions of naturally produced antibodies to be used as next-generation drug candidates

Issuer: AbCellera Biologics

Ticker: ABCL

Country: Canada
Sector: Biotech/Tech
Listing: NASDAQ

Offer Structure:

• Primary: 24,150,000 shares (upsized from 23,000,000 shares, USD 483.0m)
• Greenshoe: 3,622,500 shares (primary, c. USD 72.5m)
  Final IPO Price: USD 20.00 per share
  IPO Range: USD 17.00 to USD 18.00 per share (revised from USD 14.00 to USD 17.00 per share)

Market Cap at IPO: USD 5.3bn

Syndicate: Credit Suisse, Berenberg, Stifel, SVB Leerink, BMO Capital Markets (Joint Bookrunners)
Berenberg Role: Joint Bookrunner
Timing:

• Launch Date: 07 December 2020
• Bookbuilding: 07-09 December 2020
• Pricing: 10 December 2020
• First Day of Trading: 11 December 2020

Ticker: H24 GY
Country: Germany
Sector: E-Commerce
Listing: Regulated Market of Frankfurt Stock Exchange (Prime Standard)

Market Cap pre Transaction: c. EUR 490m
Offer Structure: 2,640,918 primary shares (c. EUR 46m)
Issue Price: EUR 17.58 per share
Use of Proceeds: Strengthening of the European business, in particular to: (1) make investments into additional working capital (especially into private label inventory), customer-centric technology, its showroom concept; (2) scale performance marketing, especially with stronger focus on its European non-DACH markets; (3) strengthen its brand awareness by further selected marketing; (4) potentially make use of external growth opportunities

Berenberg Role: Sole Global Coordinator & Sole Bookrunner
Timing:

• Launch: 08 December 2020
• Pricing: 09 December 2020
• First Day of Trading: 10 December 2020

Capital Limited is a London-listed mining services company, providing mining, drilling, maintenance and geochemical analysis solutions to customers within the global minerals industry, focussing on the African markets.

Company: Capital Limited

Ticker: CAPD LN

Country: United Kingdom
Sector: Mining Services
Listing: London Stock Exchange (Main Market)

Market Cap pre Transaction: c. GBP 86m

Offering: USD 40m (c. GBP 30m)

Offer price: GBP0.58

Use of proceeds: to purchase equipment to fulfil obligations under the Sukari Contract and Amended Sukari Drilling Contract and for general corporate purposes

Berenberg Role: Joint Bookrunner

Syndicate: Joint Bookrunners: Berenberg, Tamesis Partners

Timing:

Launch: 02 December 2020

Pricing: 03 December 2020

Ticker: UPG BB Equity
Country: Belgium
Sector: Technology (FinTech)
Listing: Regulated Market of Euronext Brussels

Market Cap pre Transaction: c. EUR 650m
Selling Shareholders: Various individuals, who invested already pre-IPO

Berenberg Role: Sole Global Coordinator & Sole Bookrunner
Timing:

• Launch: 30 November 2020
• Pricing: 30 November 2020

Nordnet is the leading pan-Nordic digital savings and investments platform.

Issuer: Nordnet AB
Ticker: SAVE SS
Country: Sweden
Sector: Technology (FinTech)
Listing: Nasdaq Stockholm

Offer Structure:

• Total: 108,100,000 shares (SEK 10.4bn)
• Secondary: 94,000,000 shares (SEK 9.0bn)
• Greenshoe (secondary): 14,100,000 shares (SEK 1.4bn)

IPO Range: SEK 88.00 to SEK 104.00
Final IPO Price: SEK 96.00
Selling Shareholders: Cidron Danube S.à r.l. (indirectly controlled by Nordic Capital, c. 40% pre-IPO), E. Öhman J: or Intressenter AB / Intressenter II AB (indirectly owned by the Dinkelspiel Family, c. 55% pre-IPO)

Syndicate: Carnegie, Citi, JP Morgan (Joint Global Coordinators and Joint Bookrunners), Berenberg, AGB, DNB, SEB (Joint Bookrunners)
Berenberg Role: Joint Bookrunner
Timing:

• Launch Date: 16 November 2020
• Bookbuilding: 16 November - 24 November 2020
• First Day of Trading: 25 November 2020

Fluidra is the global leader in the market for pool equipment and components. The company is the most vertically integrated player with manufacturing and distribution activities. Fluidra has a global presence with Europe accounting for c50% of sales followed by North America contributing another c30% and leaving c20% of sales in the rest of the world.

Ticker: FDR SM

Country: Spain

Sector: Leisure

Listing: Spanish stock exchanges (Barcelona, Madrid, Bilbao and Valencia) through the Spanish Automated Quotation System (Mercado Continuo)

Market Cap pre Transaction: c. EUR 3.4bn

Selling Shareholders: Rhône Capital via Piscine Luxembourg Holdings 1 S.à r.l.

Offer Structure: Placement of 12,121,212 existing shares (6.2% of current share capital, c. EUR 200m, upsized from c. EUR 175m)

Offer Price: EUR 16.50 per share

Berenberg Role: Joint Global Coordinator & Joint Bookrunner

Syndicate: Berenberg, Bank of America Merril Lynch (Joint Global Coordinators & Joint Bookrunners)

Timing:

• Launch: 18 November 2020
• Pricing: 18 November 2020

Global Fashion Group is a leading online fashion and lifestyle platform predominantly active in high growth emerging markets including Russia, Latin America and South East Asia.

Ticker: GFG GY

Country: Germany

Sector: E-Commerce

Main Listing: Regulated Market of Frankfurt Stock Exchange (Prime Standard)

Market Cap pre-transaction: c. EUR 1.5bn

Offer Structure: 16,500,000 primary shares (c. EUR 120m)

Issue Price: EUR 7.30 per share

Use of proceeds: The capital increase will be used to further accelerate the delivery of its mid-term growth strategy by additional investments in customer value proposition, technology platform, delivery infrastructure, and for general corporate purposes. GFG plans to take advantage of the increased marketplace base, broader assortment and improved unit economics to accelerate fashion e-commerce adoption in its markets as well as to increase loyalty and shopping frequency with its customers.

Berenberg Role: Joint Global Coordinator & Joint Bookrunner

Syndicate: Berenberg, Goldman Sachs, HSBC (Joint Global Coordinators & Joint Bookrunners)

Timing:

• Launch: 17 November 2020
• Pricing: 17 November 2020
• First Day of Trading: 19 November 2020

STORE Capital Corp is a US Real Estate Investment Trust (REIT). The firm engages in the acquisition, investment, management, and ownership of single tenant operational real estate proprieties.

Ticker: STOR US
Country: United States
Sector: Real Estate - REITs
Listing: New York Stock Exchange

Market Cap pre Transaction: c. USD 6,914m
Offer Structure: $900m At-the-Market Offering
Use of Proceeds: Working Capital, General Corporate Purposes, Future Acquisitions and Repay Debt

Berenberg Role: Sales Agent
Timing:

• Launch: 6 November 2020

Marlowe PLC is a UK provider of maintenance and installation services for fire protection, security, water treatment, and air hygiene systems.

Company: Marlowe PLC

Ticker: MRL LN

Country: United Kingdom
Sector: Business Services
Listing: London Stock Exchange (AIM)

Market Cap pre Transaction: c. GBP 300m

Offering: c. GBP 30m

Offer price: GBP5.47

Use of proceeds: to fund a portion of the cash consideration for the acquisition of Ellis Whittam, with the net proceeds used to support Marlowe's ongoing acquisition strategy. The acquisition is expected to be earnings enhancing in the first year of ownership when taking into account the impact of the Placing

Berenberg Role: Joint Bookrunner

Syndicate: Lead Bookrunners: Berenberg, Cenkos; Bookrunner: Stifel

Timing:

Launch: 28 October 2020

Pricing: 29 October 2020

Soltec Power Holdings is a leading integrated global manufacturer and supplier of solar tracking equipment for photovoltaic plants worldwide. Soltec is present in over 16 countries worldwide and has successfully delivered trackers for solar projects with a total of c. 7.1 GW of installed capacity in Latin America, Europe, North America, Middle East and Africa. It holds a top-three position globally, #1 in Latin America and #2 in Spain.

Issuer: Soltec Power Holdings SA

Ticker: SOL SM

Country: Spain

Sector: Renewable Energy / Capital Goods

Listing: Spanish stock exchanges (Barcelona, Madrid, Bilbao and Valencia)

Offer Structure:

• Total: 33,996,438 shares
• Primary: 30,881,767 shares
• Greenshoe (secondary): 3,114,671 shares

Final IPO Price: EUR 4.82 per share

IPO Range: EUR 3.66 to EUR 4.82 per share

Market Cap at IPO: c. EUR 440m

Use of proceeds: The Company intends to use the net proceeds to help finance future growth via execution of the company’s business plan, incorporating Soltec Industrial (trackers and construction services) and Powertis (project development) divisions, as well as deleveraging and strengthening its balance sheet

Berenberg role: Joint Bookrunner

Syndicate: Santander, CaixaBank (Joint Global Coordinators & Joint Bookrunners), Berenberg, JB Capital Markets (Joint Bookrunners)

Timing:

• Approval of the Prospectus: 15 October 2020
• Bookbuilding: 16 October – 26 October 2020
• First Day of Trading: 28 October 2020

Dermapharm is a leading manufacturer of patent-free branded pharmaceuticals for selected therapeutic areas

Ticker: DMP GY

Country: Germany

Sector: Pharmaceuticals

Listing: Regulated Market of Frankfurt Stock Exchange (Prime Standard)

Market Cap pre Transaction: EUR 2.6bn

Selling Shareholders: Wilhelm Beier (and his family) via Themis Beteiligungs-Aktiengesellschaft, holding pre-transaction c. 75.05% of current share capital in the Company

Offer Structure: Placement of 5,384,000 existing shares (10.0% of current share capital, c. EUR 248m)

Offer Price: EUR 46.00 per share

Berenberg Role: Sole Global Coordinator & Sole Bookrunner

Syndicate: Berenberg (Sole Global Coordinator & Sole Bookrunner)

Timing:

• Launch: 13 October 2020
• Pricing: 14 October 2020

Americold is a US Real Estate Trust (REIT), focused on the ownership, operation, acquisition, and development of temperature-controlled warehouses.

Ticker: COLD US
Country: United States
Sector: Real Estate - REITs
Listing: New York Stock Exchange

Market Cap pre Transaction: c. USD 9,077m
Offer Structure:

• Primary: 31,900,000 ordinary shares/common stock (c. USD 1,212m)
• Greenshoe: 4,785,000 ordinary shares/common stock (c. USD 181m)

Issue Price: USD 38.00 per share

Use of Proceeds: General corporate purposes, repayment of outstanding indebtedness, the funding of development, expansion and acquisition oppurtunites and to increase working capital

Berenberg Role: Co-Manager

Timing:

• Launch: 13 October 2020
• Pricing: 13 October 2020

Embracer is a developer, publisher and distributor of PC and console games to the global market.

Ticker: EMBRACB
Country: Sweden
Sector: Video Gaming

Offer Structure:

• Total deal size: 44,774,610 shares (c. EUR 690m)
• Primary shares: 35,689,907 shares (c. EUR 550m)
• Secondary shares: 9,084,703 shares (c. EUR 140m)

Selling shareholders: Original co-founders of the Company
Market Cap pre Transaction: c. SEK 65.6bn
Issue Price: SEK 162.00 per share
Use of proceeds: The net proceeds from the capital increase will further strengthen the Group’s financial position and enable it to continue its long track-record of successful acquisitions

Berenberg Role: Joint Bookrunner
Syndicate: Carnegie, Goldman Sachs (Joint Global Coordinators & Joint Bookrunners), Berenberg (Joint Bookrunner)
Timing:

• Launch: 07 October 2020
• Pricing: 08 October 2020

Draper Esprit is one of the most active venture capital firms in Europe, investing exclusively in European (including UK) technology companies

Company: Draper Esprit PLC

Ticker: GROW LN, GROW ID

Country: UK, Ireland
Sector: Diversified Financials / Private Equity
Listing: London Stock Exchange (AIM) and Euronoxt Dublin

Market Cap pre Transaction: c. GBP 660m

Offering: c. GBP 110m (19,819,820 shares)

Offer price: 555 pence

Use of proceeds: To fund an accelerated investment strategy and capture a greater share of technology investment opportunities

Berenberg Role: Joint Bookrunner

Syndicate: Berenberg, Goodbody, Numis

Timing:

Launch: 01 October 2020

Pricing: 02 October 2020

Company: Siemens Energy AG
Ticker: ENR GY
Country: Germany
Sector: Energy, Capital Goods
Listing: Regulated Market of Frankfurt Stock Exchange (Prime Standard)

Market Cap at Spin-off: c. EUR 16.0bn
Distributing company: Siemens AG (SIE GY), holding directly and indirectly 100.0% of pre-transaction share capital in the Company
Offer Structure: Distribution of 399,654,856 existing Siemens Energy shares (i.e. 55.0% of pre-transaction share capital) to existing Siemens shareholders, resulting in a holding post transaction of 35.1% by Siemens (9.9% have been transferred to Siemens Pension-Trust e.V. upon completion of the Spin-off)

Distribution ratio: 1:2 (i.e. distribution of 1 Siemens Energy share per 2 Siemens shares)

Total size distributed: c. EUR 8.8bn (based on XETRA opening price of EUR 22.01 on 28 September 2020)

Berenberg Role: Flowback Manager
Syndicate: Berenberg, Bank of America, BNP Paribas, Commerzbank, Credit Suisse, Deutsche Bank, Goldman Sachs, J.P. Morgan, HSBC, Jefferies (Flowback Managers)
Timing:

• Effectiveness of the Spin-off: 25 September 2020
• Allocation of New Shares to Siemens shareholders: 28 September 2020
• First day of trading: 28 September 2020

VIA optronics is a leading provider of enhanced display solutions for multiple end markets in which superior functionality or durability is a critical differentiating factor.

Issuer: VIA optronics AG
Country: Germany
Sector: Technology
Ticker: VIAO US
Listing: New York Stock Exchange

Offer Structure:

• Primary: 6,250,000 shares (c. USD 94m)
• Greenshoe: 937,500 secondary shares (c. USD 14m)

Final IPO Price: USD 15.00 per share
Price Range: USD 15.00 to USD 17.00 per share
Market Cap at IPO: USD 338m

Syndicate: Berenberg (Sole Bookrunner), Craig Hallum (Co-Manager)
Berenberg Role: Sole Bookrunner
Timing:

• Launch Date: 21 September 2020
• Bookbuilding: 21 September - 24 September 2020
• First Day of Trading: 25 September 2020

Unifiedpost is a leading pan-European cloud-based Fintech company offering a platform for administrative and financial services purpose-built for SMEs and corporates.

Issuer: UnifiedPost SA/NV
Ticker: UPG BB Equity
Country: Belgium
Sector: Technology (FinTech)
Listing: Regulated Market of Euronext Brussels

Offer Structure:

• Base deal (primary): 8,750,000 new shares (c. EUR 175m)
• Increase Option (secondary): 2,187,498 shares (c. EUR 44m)
• Greenshoe (secondary): 1,640,623 shares (c. EUR 33m)

Final IPO Price: EUR 20.00 per share

IPO Range: EUR 18.00 to EUR 20.00 per share

Market Cap at IPO: EUR 608m

Syndicate: Berenberg (Sole Global Coordinator and Joint Bookrunner), Kempen & Co., Belfius, Degroof Petercam (Joint Bookrunners)
Berenberg Role: Sole Global Coordinator and Joint Bookrunner
Timing:

• Launch Date: 18 September 2020
• Bookbuilding: 18 September - 21 September 2020
• First Day of Trading: 22 September 2020

COMPASS Pathways is a mental health company dedicated to accelerating patient access to evidence-based innovation in mental health, by developing a therapy using psilocybin (the active ingredient in Magic Mushrooms)

Issuer: COMPASS Pathways

Ticker: CMPS US

Country: United Kingdom
Sector: Specialty Pharmaceuticals
Listing: NASDAQ

Offer Structure:

• Secondary: 7,500,000 shares (Upsized from 6,700,000 shares, c. USD 127.5m)
• Greenshoe: 1,125,000 shares (c. USD 19.1m)

Final IPO Price: USD 17.00 per share

IPO Range: USD 14.00 to USD 16.00 per share

Market Cap at IPO: USD 578.1bn

Syndicate: Berenberg, Cowen, Evercore ISI (Joint Bookrunners)
Berenberg Role: Joint Bookrunner
Timing:

• Launch Date: 14 September 2020
• Bookbuilding: 14-16 September 2020
• Pricing: 17 September 2020
• First Day of Trading: 18 September 2020

Essential Properties Realty Trust is a US Real Estate Investment Trust (REIT). It acquires, owns and manages primarily single-tenant properties that are net leased on a long-term basis.

Ticker: EPRT US
Country: United States
Sector: Real Estate - REITs
Listing: New York Stock Exchange

Market Cap pre Transaction: c. USD 1,869m
Offer Structure: 8,800,000 ordinary shares/common stock (Upsized from 8,000,000 shares, c. USD 167.2m)
Offer Price: USD 19.00 per share

Use of Proceeds: General corporate purposes and potential future acquisitions

Berenberg Role: Co-Manager

Timing:

• Launch: 17 September 2020
• Pricing: 17 September 2020
• First Trade Date: 18 September 2020

American Well is a leading telehealth company that enables the digital delivery of care for healthcare’s key stakeholders. The Amwell Platform is a complete digital care delivery solution that equips the health system, health plan, and innovator clients with the tools to enable new models of care for patients and members

Issuer: American Well Corporation

Ticker: AMWL US

Country: USA
Sector: Medical-Technology
Listing: NYSE

Offer Structure:

• Primary: 41,222,222 new shares (c. USD 742m, upsized from 35,000,000 new shares)
• Greenshoe: 6,183,333 shares (c. USD 111m)

Final IPO Price: USD 18.00 per share

IPO Range: USD 14.00 to USD 16.00 per share

Market Cap at IPO: USD 4.1bn

Syndicate: Berenberg, Morgan Stanley, Goldman Sachs, Piper Sandler, UBS, Credit Suisse, Cowen (Bookrunners)
Berenberg Role: Joint Bookrunner
Timing:

• Launch Date: 08 September 2020
• Bookbuilding: 08 September - 16 September 2020
• Pricing Date: 16 September 2020
• First Day of Trading: 17 September 2020

As a real estate investment manager, Corestate Capital Holdings runs a fully integrated business model, offering all relevant services for indirect investments in real estate.

Ticker: CCAP GY
Country: Luxembourg
Sector: Diversified Financials / Real Estate
Listing: Regulated Market of Frankfurt Stock Exchange (Prime Standard)

Market Cap pre Transaction: c. EUR 383m
Offer Structure: 4,186,382 primary shares (c. EUR 75m)
Issue Price: EUR 17.82 per share

Use of proceeds: The proceeds will be used primarily to reduce net financial debt in the short term. The capital measure also increases the necessary entrepreneurial flexibility for further significant organic growth and a consistent return to pre-crisis levels of corporate profitability.

Berenberg Role: Sole Global Coordinator
Timing: 11 September 2020

Siemens Healthineers is Europe's largest medical equipment company and one of the biggest pure-play med tech companies globally. It is the global leader in imaging and a top three player in diagnostics.

Ticker: SHL GY
Country: Germany
Sector: Med. Tech / Healthcare Services
Listing:Regulated Market of Frankfurt Stock Exchange (Prime Standard)

Market Cap pre Transaction: c. EUR 38.3bn
Offer Structure: 75,000,000 primary shares (c. EUR 2.73bn)
Issue Price: EUR 36.40 per share

Use of proceeds: Siemens Finance B.V. has provided the Company with a bridge facility to finance the purchase price for the planned acquisition of Varian Medical Systems, Inc. that was announced on August 2, 2020. The expected net proceeds from the capital increase shall be used to replace a portion of the amount available under such bridge facility.

Berenberg Role: Co-Lead Manager
Syndicate: J.P. Morgan, UBS (Joint Global Coordinators & Joint Bookrunners), Bank of America Merrill Lynch, BNP Paribas, HSBC (Joint Bookrunners), Credit Suisse, Deutsche Bank, UniCredit (Co-Bookrunners), Berenberg, BBVA (Co-Lead Managers)
Timing:

• Launch: 02 September 2020
• Pricing: 02 September 2020
• First Day of Trading: 08 September 2020

Dalata Hotel Group PLC is an owner-operator of hotels in Ireland and the UK.

Company: Dalata Hotel Group PLC

Ticker: DHG IG, DAL LN

Country: Ireland, UK
Sector: Leisure
Listing: Euronoxt Dublin and London Stock Exchange

Market Cap pre Transaction: c. EUR 509m

Offering: 37m primary shares (c. EUR 94.4m)

Offer price: EUR 2.55

Use of proceeds:To take advantage of market opportunities arising from the effects of the Covid-19 dislocation in its local markets. Proceeds from the Placing will materially strengthen the Group’s balance sheet, which will:

• provide a significant advantage in securing new lease opportunities at competitive terms in the UK market;
• provide additional headroom in the event of a more prolonged impact from Covid-19; and
• enable the commencement of the development of Dalata’s hotel in Shoreditch, London

Berenberg Role: Joint Bookrunner

Syndicate: Berenberg, Davy

Timing:

Launch: 01 September 2020

Pricing: 03 September 2020

Nano-X Imaging is a specialty preventive healthcare company that develops nanotechnology based X-ray emitters designed to generate digital X-rays.

Issuer: Nano-X Imaging Ltd.

Ticker: NNOX US

Country: Israel
Sector: Medical Technology
Listing: NASDAQ

Offer Structure:

• Primay: 9,178,744 new shares (c. USD 165m)
• Greenshoe: 1,376,812 shares (c. USD 25m)

Final IPO Price: USD 18.00 per share

IPO Range: USD 16.00 to USD 18.00 per share

Market Cap at IPO: USD 755m

Syndicate: Berenberg, Cantor Fitzgerald, Oppenheimer & Co., CIBC Capital Markets
Berenberg Role: Joint Bookrunner
Timing:

• Launch Date: 14 August 2020
• Bookbuilding: 14 August - 20 August 2020
• First Day of Trading: 21 August 2020

CureVac is a biopharmaceutical company developing a class of transformative medicines based on messenger ribonucleic acid.

Issuer: CureVac N.V.

Ticker: CVAC US

Country: Germany / USA
Sector: Biotechnology
Listing: NASDAQ

Offer Structure:

• Primary: 1,333,333 new shares (c. USD 213m)
• Greenshoe: 1,999,999 shares (c. USD 32m)

Final IPO Price: USD 16.00 per share

IPO Range: USD 14.00 to USD 16.00 per share

Market Cap at IPO: USD 2.9bn

Syndicate: Berenberg, Bofa Securities, Jefferies, Credit Suisse, Kempen & Co (Bookrunners)
Berenberg Role: Joint Bookrunner
Timing:

• Launch Date: 10 August 2020
• Bookbuilding: 10 August - 13 August 2020
• First Day of Trading: 14 August 2020

Team17 Group plc is a UK-based games label, creative partner and developer of independent, premium video games

Ticker: TM17 LN
Country: United Kingdom
Sector: TMT/Video gaming
Listing:London Stock Exchange (AIM)

Market Cap pre Transaction:c. GBP 802m
Selling Shareholder: Lloyds Development Capital ("LDC") (clean-up trade)

Berenberg Role:Sole Global Coordinator & Sole Bookrunner
Timing:

• Pricing: 30 July 2020

Ceres Power is an early stage fuel cell technology and engineering company.

Ticker: CWR LN
Country: United Kingdom
Sector: Industrials (Renewable Energy Equipment)
Listing:London Stock Exchange (AIM)

Market Cap pre Transaction:c. GBP 1.1bn
Offer Structure: 9,156,339 secondary shares (c. GBP 54m)
Issue Price: GBp 585 per share

Selling Shareholder: IP Group, holding post transaction c. 0.2% of the current share capital

Berenberg Role:Sole Global Coordinator & Sole Bookrunner

Timing:

• Launch: 13 July 2020
• Pricing: 14 July 2020

Marlowe PLC is a UK provider of maintenance and installation services for fire protection, security, water treatment, and air hygiene systems.

Company: Marlowe PLC

Ticker: MRL LN

Country: United Kingdom
Sector: Business Services
Listing:London Stock Exchange (AIM)

Market Cap pre Transaction: c. GBP 221m

Offering: 8,368,200 primary shares (c. GBP 40m)

Offer price: GBP 4.78

Use of proceeds: To fund the initial cash consideration of the acquisition of Elogbooks and to fund further acquisitions as part of Marlowe's ongoing targeted acquisition strategy

Berenberg Role: Lead Bookrunner

Syndicate: Berenberg, Cenkos (Lead Bookrunners), Stifel (Joint Bookrunner)

Timing:

• Launch: 26 June 2020
• Pricing: 26 June 2020

CompuGroup Medical (CGM) is one of the leading eHealth companies in the world, running the largest medical customer base in Europe, serving more than 250,000 doctors.

Issuer: CompuGroup Medical SE & Co. KGaA
Ticker: COP GY
Country: Germany
Sector: Software & IT Services
Listing: Regulated Market of Frankfurt Stock Exchange (Prime Standard)

Market Cap pre Transaction: c. EUR 3.4bn
Offer Structure: 5,321,935 total shares (c. EUR 341m), thereof 4,806,709 treasury shares (c. 9.03% of outstanding share capital) and 515,226 new shares (c. 0.97% of outstanding share capital)
Offer Price: EUR 64.00 per share
Use of Proceeds: Gain further financial strength and flexibility in order to exploit attractive growth potentials in connection with the significant opportunities offered by digitization in the healthcare sector.

Berenberg Role: Joint Global Coordinator & Joint Bookrunner
Syndicate: Berenberg and Goldman Sachs (Joint Global Coordinators & Joint Bookrunners)
Timing:

• Launch: 22 June 2020
• Pricing: 22 June 2020

Issuer: PharmaSGP Holding SE

Ticker: PSG GY

Country: Germany
Sector: Consumer Health/Pharmaceuticals
Listing:Regulated Market of Frankfurt Stock Exchange (Prime Standard)

Offer Structure:

• Total: 4,025,000 shares (c. EUR 126.8m)
• Secondary: 3,500,000 shares
• Greenshoe (secondary): 525,000 shares

Final IPO Price: EUR 31.50 per share

IPO Range: EUR 31.50 to EUR 36.50 per share

Market Cap at IPO: EUR 378.0m

Berenberg Role: Sole Global Coordinator & Sole Bookrunner
Timing:

• ITF: 27 May 2020
• Investor Education: 27 May - 05 June 2020
• Bookbuilding: 08 June – 18 June 2020
• First Day of Trading: 19 June 2020

Mithra is a Belgian biotechnology company dedicated to transforming Women's Health by offering new choices through innovation, with a particular focus on contraception and menopause.

Ticker: MITRA BB
Country: Belgium
Sector: Biopharma
Listing: Regulated Market of Euronext Brussels

Market Cap pre Transaction: c. EUR 840m
Offer Structure: 3,421,052 primary shares (c. EUR 65m, upsized from initially EUR 55m)
Issue Price: EUR 19.00 per share
Use of Proceeds: Support the ramp-up of expenses related to the Phase 3 trial of Donesta^®, working capital needs, further funding of the R&D pipeline and general corporate purposes.

Berenberg Role: Joint Global Coordinator & Joint Bookrunner
Timing:

• Launch: 18 June 2020
• Pricing: 18 June 2020

Stillfront is a developer and publisher of free-to-play online PC browser and mobile strategy games.

Ticker: SF SS
Country: Sweden
Sector: Video Gaming
Listing: NASDAQ Stockholm (First North Premier Growth Market)

Market Cap pre Transaction: c. SEK 25bn
Offer Structure: 1,558,441 primary shares (c. SEK 1.2bn)
Issue Price: SEK 770.00 per share
Use of Proceeds: Net proceeds will provide the Company with further financial strength and flexibility to be able to act swiftly on potential future acquisitions and growth opportunities

Syndicate: Berenberg, Nordea (Joint Global Coordinators & Joint Bookrunners), Swedbank (Joint Bookrunner)
Berenberg Role: Joint Global Coordinator & Joint Bookrunner
Timing:

Launch: 16 June 2020Pricing: 17 June 2020

Alfen designs, develops and produces smart grids, energy storage systems and electric vehicle charging equipment. It combines these in integrated solutions to address the electricity challenges of its clients.

Ticker: Alfen NA
Country: Netherlands
Sector: Capital Goods
Listing: Regulated Market of Euronext Amsterdam

Market Cap pre Transaction: c. EUR 610m
Offer Structure: 1,750,000 primary shares (c. EUR 51m)
Issue Price: EUR 29.00 per share
Use of Proceeds: Net proceeds will be used to further strengthen Alfen’s leading position as a provider of energy solutions in the field of electric vehicle charging, energy storage and smart grid solutions

Berenberg Role: Sole Global Coordinator & Sole Bookrunner
Timing:

• Launch: 15 June 2020
• Pricing: 16 June 2020
• First Day of Trading: 18 June 2020

new formulations for specific patients and patient groups.

Ticker: FAGR BB
Country: Belgium
Sector: Pharmaceuticals
Listing:Euronext Brussels (Regulated Market)

Market Cap pre Transaction: c. EUR 1.5bn
Offer Structure: 3,000,000 existing shares
Selling Shareholder: Alychlo N.V., holding post-transaction c. 10% of the current share capital

Berenberg Role: Sole Global Coordinator & Sole Bookrunner
Timing:

• Launch: 05 June 2020
• Pricing: 05 June 2020

Medios is a niche player in the German pharma services market, focusing on speciality wholesale and patient-specific preparations.

Ticker: ILM1
Country: Germany
Sector: Pharmaceuticals (Specialty Pharma)
Listing: Regulated Market of Frankfurt Stock Exchange (Prime Standard)

Market Cap pre Transaction: c. EUR 560m
Offer Structure: 1,456,401 primary shares (EUR 53m)
Issue Price: EUR 36.70 per share
Use of Proceeds: Further expansion of Medios’ leading position as provider of specialty pharma solutions through both organic and external growth opportunities as well as to allow Medios to further play an active role in the ongoing market consolidation process in order to accelerate its proven growth strategy

Berenberg Role: Sole Global Coordinator & Sole Bookrunner
Timing:

• Launch: 03 June 2020
• Pricing: 04 June 2020
• First Day of Trading: 05 June 2020

QTS Realty Trust is a US Real Estate Trust (REIT). It is the owner, developer and operator of data centers that house the network and computer equipment of multiple customers.

Ticker: QTS US
Country: United States
Sector: Real Estate - REITs
Listing: New York Stock Exchange

Market Cap pre Transaction:c. USD 4,359m
Offer Structure: 4,400,000 ordinary shares/common stock (c. USD 286m)
Issue Price: USD 64.90 per share

Use of Proceeds: General Corporate Purposes

Berenberg Role:Co-Manager

Timing:

• Launch: 1 June 2020
• Pricing: 1 June 2020

Ticker:ANX LN
Country: United Kingdom
Sector: Professional services
Main Listing: London Stock Exchange (AIM Listing)

Market Cap pre Transaction: c. GBP 151m
Offer Structure: 6,000,000 primary shares (GBP 7.5m) and 2,800,000 secondary shares (GBP 3.5m)
Selling shareholders: Executive Chairman Alan Sellers, Samantha Moss and Valentina Slater

Issue Price: GBp 125 per share

Use of proceeds: Primary proceeds will be used to expand advocacy and litigation team, continue recruitment, further fleet investment and strengthening of balance sheet

Berenberg Role: Joint Bookrunner

Syndicate: Berenberg, Arden Partners (Joint Bookrunners)

Timing:

• Launch: 29 May 2020
• Pricing: 29 May 2020

Encavis is a producer of electricity from renewable sources and one of the leading independent power generators.

Ticker: CAP GY

Country: Germany
Sector: Renewables
Listing: Regulated Market of Frankfurt Stock Exchange (Prime Standard)

Market Cap pre Transaction:c. EUR 1.7bn
Offer Structure:2,950,903 secondary shares
Selling Shareholder: PELABA Anlageverwaltungs GmbH & Co. KG, holding post-transaction c. 2.3% of the current share capital

Berenberg Role: Sole Global Coordinator & Sole Bookrunner
Timing:

• Launch: 28 May 2020
• Pricing: 28 May 2020

Ceres Power is an early stage fuel cell technology and engineering company.

Ticker: CWR LN
Country: United Kingdom
Sector: Industrials (Renewable Energy Equipment)
Listing:London Stock Exchange (AIM)

Market Cap pre Transaction:c. GBP 800m
Offer Structure: 12,250,000 secondary shares (c. GBP 52m)
Issue Price: GBp 425 per share

Selling Shareholder: IP Group, holding post transaction c. 5.5% of the current share capital

Berenberg Role:Sole Global Coordinator & Sole Bookrunner

Timing:

• Launch: 20 May 2020
• Pricing: 21 May 2020

Eurofins is with more than 47,000 employees in over 900 laboratories across 50 countries a world leader in food and pharmaceutical products testing and environmental laboratory services.

Issuer: Eurofins Scientific SE
Ticker: ERF FP
Country: Luxembourg
Sector: Business Services | Testing, Inspection & Certification (TIC)
Listing: Regulated Market of Euronext Paris

Market Cap pre Transaction: c. EUR 10.2bn
Offer Structure: 1,000,000 primary shares (EUR 535m)
Issue Price: EUR 535.00 per share
Use of Proceeds: Supporting its rapid build-up of COVID-19 testing capacities as well as strengthening its capital structure

Berenberg Role: Joint Global Coordinator & Joint Bookrunner
Syndicate: Berenberg and Credit Suisse (Joint Global Coordinators & Joint Bookrunners)
Timing:

• Launch: 18 May 2020
• Pricing: 19 May 2020
• First Day of Trading: 22 May 2020

Ticker: SCPA LN
Country: United Kingdom
Sector: Diversified Healthcare and Industrials
Main Listing: London Stock Exchange (AIM Listing)

Market Cap pre Transaction: c. GBP 166m
Offer Structure: 30,758,649 primary shares (c. GBP 33m)
Issue Price: GBp 105 per share
Use of proceeds: Strengthen the Group's balance sheet and provide flexibility to support future growth initiatives post-COVID-19

Berenberg Role: Joint Global Coordinator and Joint Bookrunner
Syndicate: Berenberg, Numis (Joint Global Coordinators and Joint Bookrunners)
Timing:

• Launch: 14 May 2020
• Pricing: 14 May 2020

Ticker:IMMO BB
Country: Belgium
Sector: Real Estate
Main Listing: Regulated Market of Euronext Brussels

Market Cap pre Transaction: c. EUR 710m
Offer Structure: 800,000 treasury shares (EUR 52m)
Issue Price: EUR 65.00 per share
Use of proceeds: The Company intends to use the net proceeds to accelerate its investment strategy and finance additional projects, of which ten have already been identified in Brussels, Paris and Luxembourg

Berenberg Role: Sole Global Coordinator and Sole Bookrunner
Timing:

• Launch: 13 May 2020
• Pricing: 13 May 2020

QTS Realty Trust is a US Real Estate Investment Trust (REIT). It is the owner, developer and operator of data centers that house the network and computer equipment of multiple customers.

Ticker: QTS US
Country: United States
Sector: Real Estate - REITs
Listing: New York Stock Exchange

Market Cap pre Transaction: c. USD 3,854m
Offer Structure: $500m At-the-Market Offering
Use of Proceeds: Working Capital, Research and Development, General Corporate Purposes, Future Acquisitions, Repay Debt and Capital Expenditures

Berenberg Role: Sales Agent
Timing:

• Launch: 11 May 2020

Alfen N.V.

Alfen designs, develops and produces smart grids, energy storage systems and electric vehicle charging equipment. It combines these in integrated solutions to address the electricity challenges of its clients.

Ticker: ALFEN NA

Country: Netherlands
Sector: Energy Equipment
Listing: Regulated Market of Euronext Amsterdam

Market Cap pre Transaction: c. EUR 520m
Selling Shareholders: Infestos (clean-up trade)

Berenberg Role: Sole Global Coordinator & Sole Bookrunner
Timing:

• Pricing: 06 May 2020

Team17 Group plc is a UK-based games label, creative partner and developer of independent, premium video games

Ticker: TM17 LN
Country: United Kingdom
Sector: TMT/Video gaming
Listing:London Stock Exchange (AIM)

Market Cap pre Transaction:c. GBP 821m
Offer Structure: 6,850,068 secondary shares (c. GBP 39m)
Issue Price: GBP 5.75 per share

Berenberg Role:Sole Global Coordinator & Sole Bookrunner
Syndicate: Berenberg (Sole Global Coordinator & Sole Bookrunner)
Timing:

• Launch: 28 April 2020
• Pricing: 29 April 2020

Ticker: SWG LN
Country: United Kingdom
Sector: Software and IT Services (Cyber Security)
Main Listing: London Stock Exchange (AIM Listing)

Market Cap pre Transaction: c. GBP 64m
Offer Structure: 1,562,500 primary shares (GBP 4m)
Issue Price: GBp 240 per share
Use of proceeds: Provision of additional liquidity and funds for further acquisitions as part of the ongoing buy-and-build strategy

Berenberg Role: Sole Global Coordinator and Sole Bookrunner
Timing:

• Launch: 24 April 2020
• Pricing: 24 April 2020

Resolute Mining is an ASX-listed gold producer based in Perth, Australia.

Ticker: RSG LN / RS AU
Country: United Kingdom & Australia
Sector: Precious Metal Mining
Main Listing: ASX and London Stock Exchange (Standard Listing)

Market Cap pre Transaction: c. A$ 930m

Offer Structure: 23.0m primary shares (c. A$ 19m / c. USD 12m)

Issue Price: A$ 0.845

Use of proceeds: The net proceeds from the capital increase will be used to fund the acquisition of the Mako royalty

Berenberg Role: Sole Global Coordinator & Sole Bookrunner
Timing:

• Pricing: 08 April 2020

Embracer is a developer, publisher and distributor of PC and console games to the global market.

Ticker: EMBRACB
Country: Sweden
Sector: Video Gaming

Market Cap pre Transaction: c. SEK 33.2bn
Offer Structure: 18,500,500 primary shares (c. USD 164m)
Issue Price: SEK 89.00 per share

Use of proceeds: The net proceeds from the capital increase will further improve the Group’s financial position and enable it to continue its long track-record of successful acquisitions

Berenberg Role: Joint Bookrunner
Syndicate: Carnegie (Sole Global Coordinator & Joint Bookrunner), Berenberg (Joint Bookrunner)
Timing:

• Launch: 07 April 2020
• Pricing: 08 April 2020

Ticker: ADC US
Country: United States
Sector: Real Estate - REITs
Listing: New York Stock Exchange

Market Cap pre Transaction:c. USD 3,183m
Offer Structure: 2,875,000 ordinary shares/common stock (c. USD 175m)
Issue Price: USD 61.00 per share

Use of Proceeds: Working Capital, Future Acquisitions and Repay Debt

Berenberg Role:Co-Manager

Timing:

• Launch: 30 March 2020
• Pricing: 31 March 2020

Issuer: NACON SA

Ticker: NACON FP

Country: France
Sector: Media (Gaming)
Listing:Regulated Market of Euronext Paris

Offer Structure:

• Total: 20,000,000 shares
• Primary: 18,181,819 shares
• Greenshoe (primary): 1,629,112 shares

Final IPO Price: EUR 5.50 per share

IPO Range: EUR 4.90 to EUR 5.80 per share

Market Cap at IPO: c. EUR 458.1m

Use of proceeds: Company intends to increase the research and development budget for new games and to continue its selective acquisition policy of studios

Berenberg Role: Joint Global Coordinator & Joint Bookrunner
Syndicate: Berenberg, MidCap Partners, Gilbert Dupont (Joint Global Coordinator & Joint Bookrunners)

Timing:

• Approval of the Prospectus: 20 February 2020
• Bookbuilding: 20 February – 28 February 2020
• First Day of Trading: 04 March 2020

Mister Spex is an online-driven omni-channel optician. The Company offers a portfolio of 10.000+ glasses, sunglasses and contact lenses across Europe.

Country: Germany
Sector: Retail

Deal type: Growth Funding, Pre-IPO

Investment size: EUR 15m

Investor: Co-Investor Group

Use of Proceeds: Funding of the Company’s growth strategy

Berenberg Role: Exclusive Financial Advisor to Mister Spex GmbH
Timing: February 2020

Alfen N.V.

Alfen designs, develops and produces smart grids, energy storage systems and electric vehicle charging equipment. It combines these in integrated solutions to address the electricity challenges of its clients.

Ticker: ALFEN NA

Country: Netherlands
Sector: Energy Equipment
Listing: Regulated Market of Euronext Amsterdam

Market Cap pre Transaction: c. EUR 560m
Selling Shareholders: Infestos, holding post-transaction c. 18.7% of current share capital in the Company

Berenberg Role: Sole Global Coordinator & Sole Bookrunner
Timing:

• Pricing: 19 February 2020

Ticker: MIDW LN
Country: United Kingdom
Sector: Technology Hardware
Main Listing: London Stock Exchange (AIM)

Market Cap pre Transaction: c. GBP 427m
Offer Structure: 7.9m primary shares (c. GBP 39.7m)
Issue Price: GBp 500

Use of proceeds: The net proceeds from the capital increase will be used to repay debt facilities used to acquire Starin Marketing Inc and provide additional resources to fund further acquisitions

Berenberg Role: Joint Global Coordinator / Joint Bookrunner
Timing:

• Trade date: 07 February 2020
• Settlement date: 11 February 2020

Resolute Mining is an ASX-listed gold producer based in Perth, Australia. Its portfolio consists of two producing mines (Syama in Mali and Ravenswood in Australia) and one development project (Bibiani in Ghana).

Ticker: RSG LN / RS AU
Country: United Kingdom & Australia
Sector: Precious Metal Mining
Main Listing: ASX and London Stock Exchange (Standard Listing)

Market Cap pre Transaction: c. GBP 541m
Offer Structure: 132.7m primary shares (c. A$ 146m / c. GBP 76m)
Issue Price: A$ 1.10

Use of proceeds: The net proceeds from the capital increase will be used to fully repay the US$130m Toro Gold bridge facility which was provided by Taurus Funds Management

Berenberg Role: Joint Bookrunner
Timing:

• Launch: 21 January 2020
• Pricing: 23 January 2020
• First Day of Trading: 30 January 2020

DIC Asset AG specialises in commercial Real Estate, particularly office property, in Germany. DIC's business model is built on the two pillars Commercial Portfolio and Institutional Business.

Ticker: DIC GY
Country: Germany
Sector: Real Estate
Main Listing:Regulated Market of Frankfurt Stock Exchange (Prime Standard)

Market Cap pre Transaction: c. EUR 1.2bn
Offer Structure: 6,857,774 primary shares (c. EUR 110m)
Issue Price: EUR 16.00 per share

Use of proceeds: The net proceeds from the capital increase will be used to finance the Company's growth strategy, in particular to finance acquisitions for the Commercial Portfolio, and for general corporate purposes.

Berenberg Role: Sole Global Coordinator & Sole Bookrunner
Timing:

• Launch: 20 January 2020
• Pricing: 21 January 2020
• First Day of Trading: 24 January 2020