Equity Capital Markets Transactions

Bionomics is a clinical-stage biopharmaceutical company developing a pipeline of novel drug candidates targeting treatment for Central Nervous System (CNS) disorders and cognitive impairment.

Issuer: Bionomics
Ticker: BNOX US
Country: Australia
Sector: Biopharmaceuticals
Listing: NASDAQ

Offer Structure:

• Shares offered: 1,622,000
• ADS Ratio: 180 ordinary shares per ADS
• Final IPO Price: USD 12.35 per ADS

Market Cap at IPO: USD 108m

Syndicate: Evercore, William Blair, Cantor, Berenberg, H.C. Wainwright

Use of Proceeds: To advance BNC210 into a Phase 2 trial for acute treatment of SAD and the continued development of BNC210 for the treatment of PTSD including the initiation and completion of a Phase 2 trial

Berenberg Role: Joint Bookrunner

Timing:

• Pricing: 15 December 2021
• First Day of Trading: 16 December 2021

Agree Realty Corporation is a real estate investment trust that is rethinking retail through the acquisition and development of properties net leased to industry-leading, omni-channel retail tenants

Ticker: ADC US

Country: United States

Sector: Real Estate

Listing: NYSE

Market Cap pre Transaction: c. USD 7,514

Offer Structure: 5,000,0000 (c. USD 341m)

Issue Price: USD 68.15 per share (4.5% discount to close)

Berenberg Role: Co-Manager

Timing:

• Launch: 8 December 2021
• First Trade Date: 9 December 2021

Kornit Digital is a manufacturer of industrial digital printing technologies for the garment, apparel, and textile industries

Ticker: KRNT US

Country: Israel

Sector: Industrial Materials

Listing: NASDAQ

Market Cap pre Transaction: c. USD 7,514

Offer Structure: 2,645,953 (c. USD 400m)

Issue Price: USD 151.00 per share (2.6% discount to close)

Berenberg Role: Co-Manager

Timing:

• Launch: 18 November 2021
• First Trade Date: 19 November 2021

Sono Motors, headquartered in Germany, is a solar technology company manufacturing the first solar-integrated, self-charging electric vehicles

Issuer: Sono Motors

Country: Germany

Sector: Solar Technology and Electric Vehicles

Ticker: SEV US

Listing: NASDAQ

Offer Structure:

• Primary: 10,000,000 shares (c. USD 150m)
• Greenshoe: 1,500,000 secondary shares (c. USD 174m)

Final IPO Price: USD 15.00 per share

Price Range: USD 14.00 to USD 16.00 per share

Market Cap at IPO: USD 1.1bn

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

Berenberg Role: Sole Bookrunner

Timing:

• Launch Date: 8 November 2021
• Bookbuilding: 8 November 2021 - 16 November 2021
• First Day of Trading: 17 November 2021

CubeSmart is a real estate company focused on the ownership, operation, acquisition, and development of self-storage facilities in the United States

Ticker: CUBE US

Country: United States

Sector: Real Estate

Listing: NYSE

Market Cap pre Transaction: c. USD 11,667

Offer Structure: 13,500,000 (c. USD 686m) + 2,025,000 greenshoe (c. USD 103m)

Issue Price: USD 51.00 per share (4.4% discount to close)

Berenberg Role: Co-Manager

Timing:

• Launch: 15 November 2021
• Pricing: 16 November 2021
• First Trade Date: 17 November 2021

Mynaric is a developer and manufacturer of advanced laser communication technology for aerospace communication networks in government and commercial markets.

Issuer: Mynaric AG
Ticker: MYNA US
Country: Germany
Sector: Aerospace & Defense
Listing: NASDAQ

Offer Structure:

• Primary: 4,000,000 ADS (c. USD 66m)
• Greenshoe: 600,000 ADS (c. USD 9.9m)
• ADS Ratio: 4 ADS to 1 ordinary share
• Final IPO Price: USD 16.50 per ADS

Market Cap at IPO: USD 357m

Syndicate: Credit Suisse, Jefferies, Canaccord Genuity, Berenberg

Use of Proceeds: Ramp-up production, advance existing products, invest in additional research & development and repay outstanding debt

Berenberg Role: Joint Bookrunner

Timing:

• Pricing: 11 November 2021
• First Day of Trading: 12 November 2021

Sirius Real Estate Limited is the leading operator of branded business parks in Germany which includes various types of commercial real estate including logistics, industrial, storage and office space

Ticker: SRE LN

Country: United Kingdom

Sector: Real Estate

Listing: London Stock Exchange (Main Market)

Market Cap pre Transaction: c. GBP 1.5bn

Offering: GBP 137m

Offer Structure: 105,281,686 primary shares

Issue Price: GBP 1.30 per share

Use of Proceeds: To part fund the acquisition of Bizspace Group. Bizspace is a leading provider of regional flexible workspace, offering light industrial, workshop, studio and out of town office units to a wide range of businesses across the UK

Berenberg Role: Joint Global Coordinator and Joint Bookrunner

Timing:

• Launch: 08 November 2021
• Pricing: 08 November 2021
• First Day of Trading: 08 November 2021

Harmony Energy Income Trust plc is a UK Investment Company, established to invest primarily in a portfolio of battery energy storage systems (BESS) in the UK

Ticker: HEIT LN

Country: United Kingdom

Type: Investment Company

Sector: Energy Storage

Listing: Specialist Funds Segment of the London Stock Exchange

Final Offer structure:

Total: 186,516,305 shares (c. GBP 186m)

• Placing: 169,354,705 shares (c. GBP 169m)
• Offer for subscription: 17,161,600 shares (c. GBP 17m)

Issue Price: GBP 1.00 per share

Market Cap at IPO: c. GBP 210m

Use of Proceeds: to acquire battery energy storage projects in line with the Company’s investment objective and investment policy

Berenberg Role: Sole Global Coordinator and Sole Bookrunner

Syndicate: Berenberg

Timing:

• ITF: 11 October 2021
• Bookbuilding: 15 October – 04 November 2021
• Pricing, Trade Date, Communication of allocations: 05 November 2021
• First Day of Trading: 09 November 2021

Founded in 2010, MotorK Plc is a leading European cloud-based technology company that provides a full service solution for the automotive retail sector, including a full solution of vehicle management software to customer life journey with inventory management, digital marketing, lead generation and CRM systems.

Ticker: MTRK NA
Country: Italy/ UK
Sector: Software as Service (SaaS)
Listing: Euronext Amsterdam

Final Offer Structure:

Total: 12,650,000 shares (c. EUR 82.2m)

• Primary: 11,500,000 new shares (c. EUR 74.8m)
• Greenshoe Option: 1,150,000 existing shares (c. EUR 7.5m)

Final Offer Price: EUR 6.50 per share

Initial Price Range: EUR 6.50 to EUR 7.30 per share

Market Cap at IPO: c. EUR 261m

Use of proceeds: To increase R&D spending, invest in sales and marketing, and support its bolt-on acquisition strategy.

Berenberg Role: Sole Global Coordinator & Joint Bookrunner

Syndicate: Berenberg (Sole Global Coordinator & Joint Bookrunner), ABN AMRO (Joint Bookrunner)

Timing:

• ITF: 14 October 2021
• Investor Education: 14 October – 22 October 2021
• Bookbuilding: 27 October – 4 November 2021
• First Day of Trading: 5 November 2021

Darktrace is a world-leading provider of artificial intelligence for the enterprise, with the first at-scale in-the-enterprise deployment of AI in cyber security.

Ticker: DARK LN

Country: United Kingdom

Sector: Technology

Listing: London Stock Exchange (Main market, Premium Segment)

Market Cap pre Transaction: c. GBP 4.4bn

Offer Structure: 11,000,000 secondary shares (c.USD 87m / GBP 64m)

Issue Price: GBp 580 per share

Selling Shareholders: Vitruvian Partners

Berenberg Role: Joint Global Coordinator

Timing:

• Launch: 02 November 2021
• Pricing: 03 November 2021
• Settlement: 05 November 2021

Founded in 2011, Forsee Power is a designer and manufacturer of smart, high-performance battery systems for a number of high value-add electro-mobility applications, such as buses, trucks, off-highway vehicles, trains, boats and three-wheelers.

Ticker: FORSE FP
Country: France
Sector: E-mobility
Listing: Regulated Market of Euronext Paris

Final Offer structure:

Total: 15,862,068 shares (c. EUR 115m)

• Primary: 13,793,103 new shares (c. EUR 100m)
• Greenshoe Option: 2,068,965 existing shares (c. EUR 15m)

Final Offer Price: EUR 7.25 per share

Initial Price Range: EUR 7.25 – EUR 9.80 per share

Market Cap at IPO: c. EUR 386m

Use of Proceeds: To finance innovation and the development of new products, to accelerate industrial growth on an international level, to execute opportunistic development operations, as well as to finance the general needs of Forsee Power.

Berenberg Role: Joint Global Coordinator / Joint Bookrunner

Syndicate: Berenberg, Société Générale/Gilbert Dupont, CACIB

Timing:

• ITF: 4 October 2021
• Investor education: 4 October – 15 October 2021
• Bookbuilding: 18 October – 02 November 2021
• First Day of Trading: 3 November 2021

PORR is one of the largest Austrian construction companies and one of Europe‘s leading infrastructure specialists.

Ticker: POS AV

Country: Austria

Sector: Construction

Listing: Vienna Stock Exchange (Prime Market)

Market Cap pre Transaction: c. EUR 365m

Offer Structure: c. 10.2m primary shares (c. EUR 122m)

Subscription Price: EUR 12.00 per share (c. 16% discount to TERP)

Subscription Ratio: 17:6 (i.e. 6 new shares for 17 existing shares / subscription rights)

Use of proceeds: The net proceeds will be used to strengthen the balance sheet, refinance liabilities and ensure further growth.

Berenberg Role: Sole Global Coordinator & Joint Bookrunner

Syndicate: Berenberg (Sole Global Coordinator & Joint Bookrunner), Erste Group, Raiffeisen Bank International (Joint Bookrunners)

Timing:

• Publication of prospectus: 15 October 2021
• Ex-rights day: 18 October 2021
• Start of subscription period and rights trading: 20 October 2021
• End of rights trading: 28 October 2021
• End of subscription period: 03 November 2021
• Results announcement: 03 November 2021
• First day of trading of new shares: 08 November 2021

Enpal is a German-based solar solutions provider with over 8,000 customers.

Country: Germany

Sector: Renewable Energy

Deal type: Growth Funding

Investment size: EUR 250m

Use of Proceeds: Funding of the ongoing expansion and upcoming internationalization.

Berenberg Role: Exclusive Financial Advisor to Enpal

Timing: October 2021

SKAN is a global market leader in high-quality isolator systems for aseptic production processes in the (bio-)pharmaceutical industry.

Ticker: SKAN SW
Country: Switzerland
Sector: MedTech
Listing: SIX Swiss Exchange

Final Offer Structure:

Total: 5,000,000 shares (CHF 270m)

• Primary: 1,731,494 new shares (c. CHF 94m)
• Secondary: 2,768,506 existing shares (c. CHF 149m)
• Greenshoe Option: 500,000 existing shares (CHF 27m)

Final Offer Price: CHF 54.00 per share

Initial Price Range: CHF 44.00 – 55.00 per share

Market Cap at IPO: CHF 1.2bn

Use of proceeds: The net proceeds will be used to finance the growth strategy, in particular for capacity expansion and new product and service offerings.

Berenberg Role: Joint Global Coordinator & Joint Bookrunner

Syndicate: Berenberg, Credit Suisse

Timing:

• ITF: 7 October 2021
• Investor Education: 7 October – 15 October
• Bookbuilding: 18 October – 26 October
• First Day of Trading: 28 October

Yellow Cake Plc

Yellow Cake is a London-listed company, with its headquarters in Jersey. It offers pure exposure to the uranium spot price. This is achieved through its strategy of buying and holding physical uranium in storage in North America. It may also seek to add value through the acquisition of uranium royalties and streams.

Company: Yellow Cake Plc

Ticker: YCA LN

Country: United Kingdom

Sector: Natural Resources

Listing: London Stock Exchange (AIM)

Market Cap pre Transaction: c. GBP 591m

Offering: USD 150.0m / GBP 109.0m

Offer price: GBP 3.64

Use of proceeds: To fund the purchase of approximately 1 mmlb of U3O8 from Kazatomprom at $47.58/lb for delivery mid-2022 as well as the purchase of up to 2 mmlb of U308 from Curzon Energy Trading at a price of US$46.32/lb (3% discount to spot) for delivery in November 2021. Any remaining proceeds will be used for general corporate purposes and working capital

Berenberg Role: Joint Bookrunner

Syndicate:Berenberg, Cantor Fitzgerald, Canaccord Genuity

Timing:

Launch: 26 October 2021

Pricing: 27 October 2021

Settlement: 29 October 2021

Trustpilot is a leading global review platform, which creates a place where businesses and consumers can gain actionable insights and collaborate.

Ticker: TRST LN

Country: United Kingdom

Sector: Technology

Listing: London Stock Exchange (Main market, Premium Segment)

Market Cap pre Transaction: c. GBP 1.6bn

Offer Structure: 41,131,605 secondary shares (c.USD 195m / GBP 142m)

Issue Price: GBp 345 per share

Selling Shareholders: Vitruvian Partners, Index Ventures, Northzone, Seed Capital, Draper Esprit, Sunley House

Berenberg Role: Co-Lead Manager

Timing:

• Launch: 19 October 2021
• Pricing: 20 October 2021
• Settlement: 22 October 2021

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

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

Market Cap pre Transaction: c. GBP 700m

Offer Structure: 5,512,679 primary shares

Issue Price: GBP 9.07 per share

Use of Proceeds: To fund the £25m acquisition of EssentialSkillz and to fund further near-term accretive bolt-on M&A

Berenberg Role: Lead Bookrunner

Timing:

• Launch: 20 October 2021
• Pricing: 20 October 2021
• First Day of Trading: 26 October 2021

adesso is an IT service provider focused on the optimisation of companies’ core business processes. Its offering includes IT consulting and the development of individual software and industry solutions.

Ticker: ADN1 GY

Country: Germany

Sector: Software & IT Services

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

Market Cap pre Transaction: c. EUR 1.0bn

Offer Structure: 309,679 primary shares (c. EUR 50m)

Issue Price: EUR 160.00 per share

Use of Proceeds: To finance further Company growth, in particular further acquisitions with a further international expansion and the development of the sector-specific product business.

Berenberg Role: Sole Global Coordinator & Joint Bookrunner

Timing:

• Launch: 07 October 2021
• Pricing: 08 October 2021
• First Day of Trading: 13 October 2021

Veolia Environnement is a global water and waste business, operating concession contracts for governments, local authorities and industrial clients. The group’s activities are split roughly 30:40:30 between water, waste and energy services.

Ticker: VIE FP

Country: France

Sector: Utilities

Listing: Euronext Paris

Market Cap pre-Transaction: c. EUR 16.8bn

Offer Structure: c. 110.4m primary shares (c. EUR 2.5bn)

Subscription Price: EUR 22.70 per share (c. 19% discount to TERP)

Subscription Ratio: 21:4 (i.e. 21 existing shares for 4 new shares)

Use of Proceeds: To finance in part the tender offer on SUEZ shares, for an amount of c. EUR 9 billion. The Rights Issue is part of a total financing package that also includes the proceeds expected from the disposal of new SUEZ to a consortium of investors consisting of Meridiam, GIP and CDC/CNP Assurances for an enterprise value of EUR 10.4 billion.

Berenberg Role: Joint Bookrunner

Syndicate: BofA Securities, BNP Paribas, Credit Agricole CIB, Deutsche Bank, HSBC, Morgan Stanley (Joint Global Coordinators), Berenberg , Barclays, Citi, Credit Suisse, Mizuho, Natixis (Joint Bookrunners)

Timing:

• Publication of Prospectus: 16 September 2021
• Ex-rights day / Start of subscription period: 21 September 2021
• Start of rights trading period: 17 September 2021
• End of rights trading: 29 September 2021
• End of subscription period: 1 October 2021
• Results announcement: 6 October 2021 (post market close)
• First day of trading of new shares: 8 October 2021

JTC is an independent and regulated provider of outsourced corporate, private wealth and fund administration, reporting and fiduciary services.

Company: JTC Plc

Ticker: JTC LN

Country: United Kingdom

Sector: Business Services

Listing: London Stock Exchange (Main market)

Market Cap pre Transaction: c. GBP 1bn

Offering: GBP 79m

Offer Structure: 10,991,543 primary shares

Offer price: GBP 7.18

Use of proceeds: To part fund the Group’s acquisition of SALI Fund Services, a US-based provider of fund and structuring administration services to the Insurance Dedicated Fund (“IDF”) market

Berenberg Role: Joint Bookrunner

Syndicate: Joint Bookrunners: Berenberg, Numis Securities Limited

Timing:

Launch: 06 October 2021

Pricing: 07 October 2021

Settlement: 11 October 2021

Borussia Dortmund is one of the leading professional football businesses in Germany and Europe, both in terms of sporting success and revenue.

Ticker: BVB GY

Country: Germany

Sector: Leisure

Listing: Frankfurt Stock Exchange (Prime Standard)

Market Cap pre Transaction: c. EUR 560m

Offer Structure: c. 18.4m primary shares (c. EUR 86m)

Subscription Price: EUR 4.70 per share (c. 20% discount to TERP)

Subscription Ratio: 5:1 (i.e. 5 existing shares for 1 new share)

Use of proceeds: The company intends to use the net proceeds to optimize the capital structure, compensate for potential losses resulting from the impact of currently unexpected further COVID-19 related measures or restrictions, as well as for investments in their professional Licensed Football Team.

Berenberg Role: Sole Global Coordinator & Sole Bookrunner

Syndicate: Berenberg (Sole Global Coordinator & Sole Bookrunner)

Timing:

• Publication of prospectus: 16 September 2021
• Ex-rights day/start of subscription period: 20 September 2021
• Start of rights trading period: 21 September 2021
• End of rights trading: 30 September 2021
• End of subscription period: 04 October 2021
• Results announcement: 05 October 2021
• First day of trading of new shares: 08 October 2021

Darktrace is a world-leading provider of artificial intelligence for the enterprise, with the first at-scale in-the-enterprise deployment of AI in cyber security.

Ticker: DARK LN

Country: United Kingdom

Sector: Technology

Listing: London Stock Exchange (Main market, Premium Segment)

Market Cap pre Transaction: c. GBP 5.7bn

Offer Structure: 25,000,000 secondary shares (c.USD 250m / GBP 188m)

Issue Price: GBp 750 per share

Selling Shareholders: Summit DT CLN Holdings 4, KKR Dark Aggregator, Balderton Capital SFI

Berenberg Role: Joint Global Coordinator

Timing:

• Launch: 30 September 2021
• Pricing: 01 October 2021
• Settlement: 05 October 2021

Ticker: SAFE US

Country: United States

Sector: Real Estate - REITS

Listing: New York Stock Exchange

Market Cap pre transaction: c. USD 4,280m

Offer Structure: 2,200,000 base offering (c. USD 167m) + 330,000 greenshoe (c. USD 192m)

Berenberg Role: Joint Bookrunner

Timing:

• Launch: 21 September 2021

• Pricing: 22 September 2021

Oxford Nanopore Technologies is a a provider of new generation of nanopore-based sensing technology, whose products enable the real-time, high-performance, scalable analysis of DNA and RNA

Issuer: Oxford Nanopore Technologies Plc

Ticker: ONT LN

Listing Country: United Kingdom

Sector: Life Sciences

Listing: London Stock Exchange (Standard Listing)

Final Offer Structure:

• Total: 141.5m shares (c. GBP 603m)
• Primary: 82.4m shares (c. GBP 428m)
• Secondary: 40.7m shares (c. GBP 173m)
• Over-allotment (all primary): 18.5m shares (c. GBP 79m)

IPO Price: GBP 4.25

Market Cap at IPO: c. GBP 3.4bn

Use of Proceeds: To position the Group for the next stage of its development and support its ambitious growth plans

Berenberg Role: Joint Bookrunner

Timing:

• Investor Education: 16 September – 22 September 2021
• Bookbuilding: 23 September – 29 September 2021
• Pricing; Trade Date; Start of Conditional Trading: 30 September 2021
• Start of Unconditional Trading: 05 October 2021

Founded in 2012, Afyren is a French ESG pure-play that has developed a unique proprietary fermentation technology using naturally occurring microorganisms and locally sourced agricultural by-products to produce organic, GMO-free carboxylic acids.

Ticker: ALAFY FP

Country: France

Sector: Chemicals/ Agrochemicals

Listing: Euronext Paris

Final Offer structure :

Total : 9,075,536 shares (c. EUR 72.8m)

• Primary: 8,286,359 new shares (c. EUR 66.5m)
• Greenshoe Option: 789,177 existing shares (c. EUR 6.3m)

Final Offer Price: EUR 8.02 per share

Initial Price Range: EUR 8.02 – EUR 9.72 per share

Market Cap at IPO: c. EUR 206.6m

Use of Proceeds: To finance the R&D work and the preparation of the next industrial units until breakeven is reached; to finance the equity of the second industrial project; and to finance the equity of the third industrial project

Berenberg Role: Joint Global Coordinator & Joint Bookrunner

Syndicate: Berenberg, Portzamparc

Timing:

• ITF: 26 August 2021
• Investor education: 26 August – 13 September 2021
• Bookbuilding: 14 September – 28 September 2021
• First Day of Trading: 1 October 2021

Lotus Bakeries is a family-run, Belgium-based company which manufactures food products under the global Lotus Biscoff brand, predominantly in sweet biscuits, but also across the sweet spreads, ice cream and chocolate categories. It also produces healthy snacks through its Natural Foods business across the UK and internationally via its brands Nakd, Trek, BEAR and Kiddylicious.

Ticker: LOTB BB

Country: Belgium

Sector: Food Manufacturing

Listing: Euronext Brussels

Market Cap pre Transaction: c. EUR 4.5bn

Selling Shareholders: Family shareholders of Lotus Bakeries

Offer Structure: Placement of 65,303 existing shares (c. 8% of current share capital), increased from 55,000 shares, representing c. EUR 327m

Offer Price: EUR 5,000 per share

Berenberg Role: Joint Global Coordinator & Joint Bookrunner

Syndicate: Berenberg, BNP Paribas Fortis, KBC Securities (Joint Global Coordinators & Joint Bookrunners)

Timing:

• Launch: 27 September 2021
• Pricing: 28 September 2021
• Settlement: 30 September 2021

Made Tech Group is a provider of digital, data and technology services to the UK public sector

Issuer: Made Tech Group

Ticker: MTEC LN

Country: United Kingdom

Sector: IT Services

Listing: London Stock Exchange (AIM Market)

Final Offer Structure:

• Total: 70,002,897 shares (c. GBP 85m)
  • Primary: 12,295,081 new shares (GBP 15m)
  • Secondary: 57,707,816 existing shares (c. GBP 70m)

IPO Price: GBP 1.22

Market Cap at IPO: c. GBP 181m

Use of Proceeds: To allow the Group to expand its service offering, open up new regions, for further expansion within the health, defence and local government markets and to repay a loan

Berenberg Role: Joint Global Coordinator & Joint Bookrunner

Timing:

• Investor Education: 31 August – 10 September 2021
• Bookbuilding: 13 September – 23 September 2021
• Pricing; Trade Date: 24 September 2021
• First Day of Trading: 30 September 2021

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 7.2bn

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

Offer Structure: Placement of 10,000,000 existing shares (c. 5.1% of current share capital, c. EUR 356m)

Offer Price: EUR 35.55 per share

Berenberg Role: Joint Global Coordinator & Joint Bookrunner

Syndicate: Berenberg, Bank of America Merrill Lynch, JP Morgan (Joint Global Coordinators & Joint Bookrunners)

Timing:

• 14/09: Start of ABB
• 15/09: Pricing and Allocation; Trade date (T)
• 17/09: Settlement (T+2)

The Pebble Group has two businesses operating in the promotional product market: Brand Addition (BA), anpromotional merchandise business for large corporates, and Facilisgroup (FG), an enterprise software provider.

Company: The Pebble Group Plc

Ticker: PEBB LN

Country: United Kingdom

Sector: Advertising & Marketing

Listing: London Stock Exchange (AIM)

Market Cap pre Transaction: c. GBP 255m

Offering: 9,258,664 shares (c. GBP 13.9m, c. 5.5% of existing share capital)

Offer price: GBP 1.50

Exiting shareholder: Funds managed by Elysian Capital (“Elysian”), holding pre-transaction c. 5.5% of current share capital in the Company

Berenberg Role: Sole Global Coordinator / Sole Bookrunner

Timing:

Launch: 14 September 2021

Pricing: 15 September 2021

Vulcan is aiming to become the world’s first lithium producer with net zero greenhouse gas emissions. Its ZERO CARBON LITHIUM™ Project intends to produce a battery-quality lithium hydroxide chemical product from its combined geothermal energy and lithium resource, which is Europe’s largest lithium resource, in Germany.

Company: Vulcan Energy Resources Limited

Ticker: VUL AU

Listing country: Australia

Sector: Base Metals

Listing: ASX, Australia

Market Cap pre Transaction: c. AUD 1.7bn

Offering: AUD 200m

Offer price: AUD 13.50

Use of proceeds: To accelerate exploration initiatives and expand Vulcan’s dual renewable energy and lithium development strategy

Berenberg Role: Co-Manager

Syndicate: Joint Lead Managers, Underwriters & Bookrunner: Goldman Sachs, Canaccord Genuity; Co-Manager: Berenberg

Timing:

Launch: 14 September 2021

Trading halt lifted: 16 September 2021

Settlement date: 21 September

Issue and trading of new securities: 22 September

Embracer is a developer and publisher of free-to-play (F2P) online and mobile strategy games

Ticker: SF SS

Country: Sweden

Sector: Video Gaming

Market Cap pre Transaction: c. SEK 23bn

Offer Structure: 15,723,270 primary shares (SEK 1bn, c. USD 119m)

Issue Price: SEK 63.60 per share

Use of proceeds: Used to finance the acquisition of Jawaker and to further strengthen the Company’s financial position in line with already announced company targets

Berenberg Role: Joint Global Coordinator

Syndicate: Berenberg, Carnegie (Joint Global Coordinators & Joint Bookrunners)

Timing:

• Launch: 08 September 2021
• Pricing: 09 September 2021

Tecan is a leading global provider of laboratory instruments and solutions in biopharmaceuticals, forensics and clinical diagnostics. The company specializes in the development, production and distribution of automation solutions for laboratories in the life sciences sector.

Ticker: TECN SW
Country: Switzerland
Sector: MedTech
Listing: SIX Swiss Exchange

Market Cap pre Transaction: c. CHF 7.0bn

Offer Structure: 650,000 primary shares (c. CHF 358m)

Issue Price: CHF 550.00 per share

Use of proceeds: The Company intends to use the net proceeds from the offering to partly refinance the USD 1.0bn (CHF 920m) acquisition of Paramit Corporation announced on 23 June 2021 and closed on 2 August 2021.

Berenberg Role: Joint Global Coordinator & Joint Bookrunner

Syndicate: Berenberg, Credit Suisse (Joint Global Coordinators & Joint Bookrunners)

Timing:

• Launch: 02 September 2021
• Pricing: 03 September 2021
• First Day of Trading: 07 September 2021

NETSTREIT Corp acquires, owns and manages a portfolio of single-tenant retail commercial real estate focused on tenants in the retail sector.

Ticker: NTST US

Country: United States

Sector: Real Estate - REITs

Listing: New York Stock Exchange

Market Cap pre Transaction: c. USD 1,074m

Offer Structure: $250m At-the-Market Offering

Use of Proceeds: To fund potential acquisitions, development and investment opportunities, and for general corporate purposes

Berenberg Role: Sales Agent

Timing:

• Launch: 1 September 2021

Darktrace is a world-leading provider of artificial intelligence for the enterprise, with the first at-scale in-the-enterprise deployment of AI in cyber security.

Ticker: DARK LN

Country: United Kingdom

Sector: Technology

Listing: London Stock Exchange (Main market, Premium Segment)

Market Cap pre Transaction: c. GBP 5bn

Offer Structure: 23,150,000 secondary shares (c.USD 200m / GBP 144m)

Issue Price: GBp 620 per share

Selling Shareholders: KKR Dark Aggregator, Summit DT CLN Holdings 4, Hoxton Ventures Fund I Opportunities III, Balderton Capital SFI

Berenberg Role: Joint Global Coordinator

Timing:

• Launch: 05 August 2021
• Pricing: 06 August 2021
• Settlement: 10 August 2021

LTG Plc is a global provider of e-learning solutions for corporate and government organisations

Company: Learning Technologies Group Plc

Ticker: LTG LN

Country: United Kingdom

Sector: Technology

Listing: London Stock Exchange (AIM)

Market Cap pre Transaction: c. GBP 1.4bn

Offering: GBP 85m

Offer price: GBP 1.92

Use of proceeds: To part-fund the proposed acquisition of GP Strategies Corp. (GPX US / US36225V1044) for $20.85 per share, representing an equity value of c.$394m (c.£284m) and EV of c.$343m (c.£247m)

Berenberg Role: Lead Manager

Syndicate:

Joint Bookrunners: Numis, Goldman Sachs

Lead Manager: Berenberg

Timing:

Launch: 15 July 2021

Pricing: 16 July 2021

Settlement: 20 July 2021

Novem Group S.A. is a globally leading supplier of decorative interior trim parts for the premium automotive industry.

Ticker: NVM GY
Country: Luxembourg
Sector: Automotive
Listing: Frankfurt Stock Exchange (Prime Standard)

Final Offer Structure:

Total: 14,984,848 shares (c. EUR 247m)

• Primary: 3,030,303 new shares (c. EUR 50m)
• Secondary: 10,000,000 existing shares (c. EUR 165m)
• Greenshoe Option: 1,954,545 new shares (c. EUR 32m)

Final Offer Price: EUR 16.50 per share

Initial Price Range: EUR 16.50 – 19.50 per share

Market Cap at IPO: EUR 710m

Use of proceeds: Optimization of the Company’s capital structure and refinancing of liabilities to achieve a reduction of relevant interest rates.

Berenberg Role: Joint Global Coordinator & Joint Bookrunner

Syndicate: Berenberg, Commerzbank, JPM (Joint Global Coordinators & Joint Bookrunners), Jefferies, UniCredit (Joint Bookrunners)

Timing:

• ITF: 29 June 2021
• Investor Education: 29 June – 7 July
• Bookbuilding: 8 July – 14 July
• First Day of Trading: 19 July 2021

Ilika is a is a leading developer of solid-state batteries. It is ramping up commercial production of its Stereax cells and has strong partnerships, enabling it to progress the Goliath cells (targeting the EV market) to large-scale manufacturing in the near term.

Company: Ilika Plc

Ticker: IKA LN

Country: United Kingdom

Sector: Batteries

Listing: London Stock Exchange (AIM)

Market Cap pre Transaction: c. GBP 278m

Offering: GBP 24.7m

Offer price: GBP 1.40

Use of proceeds: To accelerate the development of the Company's Goliath technology, including through targeting and exceeding lithium ion battery equivalence around December 2022; ii. To enable a tenfold increase in the capacity of the Goliath pre-pilot line, from 1 kWh to 10 kWh per week, targeted by Q1 2023; and iii. for general working capital purposes and to support the Company’s planned Goliath product development until mid-calendar year 2023

Berenberg Role: Joint Bookrunner

Syndicate: Joint Bookrunners: Berenberg, Liberum

Timing:

Launch: 09 July 2021

Pricing: 09 July 2021

General meeting: 28 July 2021

EIS/VCT Settlement: 29 July 2021

General Settlement: 30 July 202

Essensys is the leading provider of software solutions for flexible workspace in the global commercial real estate sector. Its newly launched Flex Services Platform has capabilities in space management, digital infrastructure, flexible operations and occupier experience

Company: Essensys Group Ltd

Ticker: ESYS LN

Country: United Kingdom

Sector: Software

Listing: London Stock Exchange (AIM)

Market Cap pre Transaction: c. GBP 160m

Offering: GBP 38m

Offer price: GBP 2.85

Use of proceeds: To take advantage of the significant opportunities presented by the growing flexible workspace industry by accelerating its proven go-to-market strategy and product development

Berenberg Role: Joint Bookrunner

Syndicate: Joint Bookrunners: Berenberg, N+1 Singer

Timing:

Launch: 08 July 2021

Pricing: 09 July 2021

General Meeting (placing conditional on approval): 26 July 2021

Settlement: 27 July 2021

Lendinvest is an asset management platform providing property finance

Issuer: Lendinvest Ltd

Ticker: LINV LN

Country: United Kingdom

Sector: Diversified Financials

Listing: London Stock Exchange (AIM Market)

Final Offer Structure:

• Total: 21,531,722 new, primary shares (c. GBP 40m)

IPO Price: GBP 1.86

Market Cap at IPO: c. GBP 255.6m

Use of Proceeds: To accelerate the company’s technology roadmap as well as facilitating additional growth in new and existing products

Berenberg Role: Sole Global Coordinator & Sole Bookrunner

Timing:

• Investor Education: 16 June – 25 June 2021
• Bookbuilding: 28 June – 08 July 2021
• Pricing; Trade Date: 09 July 2021
• First Day of Trading: 14 July 2021

Bullish is a technology company focused on developing financial services for the digital assets sector - merged with Far Peak Acquisition Corp in a SPAC transaction.

SPAC Ticker: FPAC US

Country: USA

Sector: CrypotcurrencyListing: NYSE

Transaction Details: Net cash in trust of approximately USD 660m (assuming no redeptions) and USD 300m of committed PIPEPro Forma Equity Value: USD 9,000mOffer Price: USD 10.00 per share

Berenberg Role: Co-Placement Agent

Timing:

• Transaction Date: 9 July 2021
• Merger Close Pricing: End of 2021

Biotalys is an Agricultural Technology (AgTech) company focused on addressing food protection challenges with proprietary protein-based biocontrol solutions and aiming to provide alternatives to conventional chemical pesticides for a more sustainable and safer food supply.

Ticker: BTLS BB
Country: Belgium
Sector: Chemicals/ Agrochemicals
Listing: Euronext Brussels (Regulated Market)

Final Offer Structure:

Total: 7,283,332 shares (c. EUR 54.6m)

• Primary: 6,333,333 new shares (c. EUR 47.5m)
• Greenshoe Option (primary): 949,999 new shares (c. EUR 7.1m)

Final Offer Price: EUR 7.50

Initial Price Range: EUR 7.50 – EUR 8.50 per share

Maket Cap at IPO: c. EUR 225.2m

Use of Proceeds: To provide further funding for the product development of its existing pipeline and pursue development of additional product candidates (internally as well as via partnered programs) as well as to continue to improve and optimize Biotalys’ AGROBODY Foundry™ platform and to fund its go-to-market strategy.

Berenberg Role: Joint Global Coordinator & Joint Bookrunner

Syndicate: Berenberg and KBC Securities (Joint Global Coordinators & Joint Bookrunners), Belfius (Joint Bookrunner) and Oppenheimer (Lead U.S. Bookrunner)

Timing:

• ITF: 15 June 2021
• Investor Education: 15 June – 22 June 2021
• Bookbuilding: 23 June – 1 July 2021
• First Day of Trading: 2 July 2021

Verallia engages in the production of glass packaging for food and beverages products. It operates through the following geographical segments: Southern and Western Europe, Northern and Eastern Europe and Latin America

Issuer: Verallia SA

Ticker: VRLA FP

Country: France

Sector: Packaging

Listing: Regulated Market of Euronext Paris

Market Cap pre Transaction: c. EUR 4.0bn

Selling Shareholder: Apollo Global Management through “Horizon Holdings SARL”

Offer Structure: Placement of c.12.5m secondary shares (c. 10.1% of current outstanding share capital, c. EUR 381m)

Offer Price: EUR 30.50 per share

Berenberg Role: Joint Bookrunner

Syndicate: BNP Paribas, Citi and Deutsche Bank (Joint Global Coordinators), Berenberg (Joint Bookrunner)

Timing:

• Launch: 08 June 2021
• Pricing: 09 June 2021

Mister Spex is a leading digitally native omnichannel retail optician in Europe, operating a platform for fashionable and corrective eyewear, including prescription glasses, sunglasses, contact lenses and contact lens care products. Through the targeted use of data driven technologies and digitised processes, the Mister Spex offers next-level, tailored customer experiences that make the individual shopping experience simple and intuitive.

Ticker: MRX GY
Country: Germany
Sector: E-Commerce
Listing: Frankfurt Stock Exchange (Prime Standard)

Final Offer Structure:

Total: 14,999,999 shares (c. EUR 375m)

• Primary: 9,782,609 new shares (c. EUR 245m)
• Secondary: 3,260,869 existing shares (c. EUR 82m)
• Greenshoe Option: 1,956,521 existing shares (c. EUR 49m)

Final Offer Price: EUR 25.00 per share

Initial Price Range: EUR 23.00 – EUR 27.00 per share

Market Cap at IPO: c. EUR 829m

Use of Proceeds: Further accelerate the growth strategy and the international expansion of the omnichannel business model and also for repayment of a bridge loan facility.

Berenberg Role: Joint Global Coordinator & Joint Bookrunner

Syndicate: Berenberg, Barclays & Jefferies (Joint Global Coordinators & Joint Bookrunners); Bryan Garnier & Commerzbank (Joint Bookrunners); Quirin Privatbank (Co-Lead Manager)

Timing:

• ITF: 14 June 2021
• Investor Education: 14 June – 21 June 2021
• Bookbuilding: 23 June – 30 June 2021
• First Day of Trading: 2 July 2021

Acciona Energía, a subsidiary of the conglomerate Acciona, is a Spanish company pure-play leader in the renewable energy sector with a fully integrated business model. With a total installed capacity of approximately 11.0 GW as of March 31, 2021 (net installed capacity of 9.2 GW), the Company owns and operates renewable assets in five main markets globally, and is present in 16 countries across five continents

Ticker: ANE SM

Country: Spain

Sector: Renewable Energy

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

Offer Structure:

• Total: 56.8m shares (c. EUR 1.5bn)
• Secondary: 49.54m shares (c. EUR 1.3bn)
• Greenshoe: 7.4m shares (c. EUR 198m)

Final Offer Price: EUR 26.73 per share

Initial Price Range: EUR 26.73 to EUR 29.76 per share

Market Cap at IPO: c. EUR 8.8bn

Use of proceeds: Proceeds to the Selling Shareholder, Acciona – partial amortisation of existing debt at Acciona level, following the already completed capitalisation, by way of contribution to the Company’s equity, of c. €1.9bn credit rights arising from intra-group loans, leaving Acciona Energía’s balance sheet optimised for growth

Berenberg Role: Joint Bookrunner

Syndicate: J.P.Morgan, Bestinver, Citigroup, Goldman Sachs and Morgan Stanley (Joint Global Coordinators & Joint Bookrunners), Berenberg, BofA Securities, Banco Santander, Credit Agricole, Credit Suisse, HSBC and Société Générale (Joint Bookrunners), Alantra Capital Markets, Banco de Sabadell, ING in cooperation with Stifel Europe, Intesa SanPaolo, Mirabaud , Mizuho, Norbolsa and RBC Europe (Co-Lead Managers)

Timing:

• ITF: 07 June 2021
• PDIE: 07 to 18 June 2021
• Bookbuilding: 21 to 29 June 2021
• First day of trading: 1 July 2021

Compagnie des Alpes is a French company engaged in the operation of ski resorts and leisure parks across Europe. The Company operates 10 prestigious ski resorts and 13 renowned leisure parks. La Compagnie des Alpes has more than 5,000 employees and generated €615m of sales in 2020.

Ticker: CDA FR

Country: France

Sector: Leisure

Listing: Regulated Market of Euronext Paris

Market Cap pre Transaction: c. EUR 520m

Offer Structure: c. 24.6m primary shares (c. EUR 231m)

Subscription Price: EUR 9.40 per share (c. 38.8% discount to TERP)

Subscription Ratio: 1:1 (i.e. 1 existing share for 1 new share)

Use of proceeds: The company intends to use the net proceeds to support financing of the business plan including attractiveness projects and accelerate ecological transition

Berenberg Role: Joint Bookrunner

Syndicate: BNP Paribas, Crédit Agricole, Natixis and Société Générale (Joint Global Coordinators & Joint Bookrunners), Berenberg, CM-CIC (Joint Bookrunners)

Timing:

• Publication of prospectus: 09 June 2021
• Ex-rights day/start of subscription period and rights trading: 10 June 2021
• End of rights trading: 21 June 2021
• End of subscription period: 23 June 2021
• Results announcement: 28 June 2021
• First day of trading of new shares: 30 June 2021

XPO Logistics is a provider of transportation logistics management and support services

Ticker: XPO US

Country: United States

Sector: Transport and LogisticsListing: NYSE

Market Cap pre Transaction: c. USD 16,061m

Offer Structure: 5,000,000 base offering (c. USD 690m), 750,000 greenshoe (c. USD 104m)Issue

Price: USD 138.00 per share (1.86% discount to close)

Berenberg Role: Co-Manager

Timing:

• Launch: 28 June 2021
• Pricing: 28 June 2021

Smartcraft is a leading provider of mission-critical software to the construction industry and enables construction companies to increase their productivity, reduce the administrative burden and make it easier to comply with the ever-evolving landscape of applicable laws and regulations affecting the construction industry.

Issuer: Smartcraft

Ticker: SMCRT NO

Country: Norway

Sector: Technology

Listing: Oslo Stock Exchange (Main List)

Offer Structure:

• Total: 67,977,528 shares (NOK 1,210m / EUR 120m)
• Primary: 28,089,888 shares (NOK 500m / EUR 50m)
• Secondary: 33,707,865 shares (NOK 600m / EUR 59m)
• Greenshoe (primary): 6,179,775 shares (NOK 110m / EUR 11m)

Fixed IPO Price: NOK 17.80

Implied market cap at IPO: NOK 3.1bnUse of primary proceeds: Repay current debt liabilities and redeem all the currently outstanding preference shares in the Company. Any remaining net proceeds will used for general corporate purposes, including acquisitions

Syndicate: Joint Global Coordinators: ABG and Carnegie; Joint Bookrunner: Berenberg

Berenberg Role: Joint Bookrunner

Timing:

• Launch Date: 07 June 2021
• Bookbuilding: 15 June - 21 June 2021
• First Day of Trading: 24 June 2021

Capital Ltd is an early stage fuel cell technology and engineering company.

Ticker: CAPD LN

Country: United Kingdom

Sector: Mining Services

Listing: London Stock Exchange (Main market)

Market Cap pre Transaction: c. GBP 160m

Offer Structure: 3,000,000 secondary shares (c.USD 3.2 / GBP 2.3m)

Issue Price: GBp 77 per share

Selling Shareholder: Brian Rudd (Founder & Executive Director), holding c. 7.9% of share capital pre-transaction

Berenberg Role: Joint Bookrunner

Timing:

• Launch & Pricing: 23 June 2021
• Settlement: 25 June 2021

Bike24 is one of the leading e-commerce platforms in continental Europe with a clear focus on the premium price segment. The company offers customers a one-stop cycling shop with a broad product portfolio that focuses on the needs of bike enthusiasts and includes bike parts, accessories and clothing (“PAC”) as well as traditional bikes and e-bikes.

Ticker: BIKE GY
Country: Germany
Sector: E-Commerce
Listing: Frankfurt Stock Exchange (Prime Standard)

Final Offer Structure:

Total: 21,466,666 shares (c. EUR 322m)

• Primary: 6,666,666 new shares (c. EUR 100m)
• Secondary: 12,000,000 existing shares (c. EUR 180m)
• Greenshoe Option: 2,799,999 new shares (c. EUR 42m)

Final Offer Price: EUR 15.00 per share

Initial Price Range: EUR 15.00 – 19.00 per share

Market Cap at IPO: c. EUR 662m

Use of proceeds: Further accelerate growth in Continental Europe and support future business development. In particular, proceeds will be used for the expansion of Bike24’s fulfilment infrastructure domestically and abroad and the localization of its offering for certain foreign markets.

Berenberg Role: Joint Global Coordinator & Joint Bookrunner

Syndicate: Joint Global Coordinators & Joint Bookrunners: Berenberg, J.P. Morgan

Timing:

• ITF: 07 June 2021
• Investor Education: 07 June – 14 June 2021
• Bookbuilding: 16 June – 22 June 2021
• First Day of Trading: 25 June 2021

Yellow Cake is a London-listed company, with its headquarters in Jersey. It offers pure exposure to the uranium spot price. This is achieved through its strategy of buying and holding physical uranium in storage in North America. It may also seek to add value through the acquisition of uranium royalties and streams.

Company: Yellow Cake Plc

Ticker: YCA LN

Country: United Kingdom

Sector: Natural Resources

Listing: London Stock Exchange (AIM)

Market Cap pre Transaction: c. GBP 350m

Offering: USD 87.4m / GBP 62.5m

Offer price: GBP 2.50

Use of proceeds:: To fund purchases of physical uranium (in particular JSC National Atomic Company Kazatomprom (“Kazatomprom”) has indicated that it is willing to sell the Company 1 to 2mmlb of U3O8 at a price of US$32.23), to opportunistically fund additional spot market uranium purchases and for working capital and general corporate purposes

Berenberg Role: Joint Bookrunner

Syndicate: Joint Bookrunners:

Berenberg, Cantor Fitzgerald, Canaccord Genuity

Timing:

Launch: 16 June 2021

Pricing: 17 June 2021

Settlement: 21 June 2021

ATAI Life Sciences is a clinical-stage biopharmaceutical company founded in 2018 that invests in companies researching both psychedelic and non-psychedelic compounds to produce treatments for patients suffering from mental health disorders and diseases.

Issuer: ATAI Life Sciences
Ticker: ATAI US
Country: United States
Sector: Biopharma
Listing: NASDAQ

Offer Structure:

• Primary: 15,000,000 shares (upsized from 14,286,000, c. USD 225.0m)
• Final IPO Price: USD 15.00 per share
• IPO Range: USD 13.00 to USD 15.00 per share

Market Cap at IPO: USD 2,289m

Syndicate: Credit Suisse, Citi, Cowen, Berenberg

Berenberg Role: Joint Bookrunner

Timing:

• Launch Date: 11 June 2021
• Bookbuilding: 11-17 June 2021
• Pricing: 17 June 2021
• First Day of Trading: 18 June 2021

NX Filtration offers breakthrough direct nanofiltration membrane technology that enables customers to, amongst others, produce pure and affordable water, treat wastewater and reduce their water footprint, whilst achieving strong sustainability benefits

Ticker: NXFIL NA

Country: Netherlands

Sector: Water Technology

Listing: Euronext Amsterdam

Offer Structure: Placement of 17.25m existing shares (up to c. EUR 190m) of which 15m primary shares (EUR 165m gross proceeds)

Final Offer Price: EUR 11.00 per share

Initial Price Range: EUR 10.00 to 11.00 per share

Market Cap at IPO: EUR 550m

Use of Proceeds: Accelerate the company’s growth plans through i) commercial roll-out, ii) capacity expansion, iii) R&D and iv) M&A

Berenberg Role: Joint Global Coordinator & Joint Bookrunner

Syndicate: Berenberg, ABN AMRO (Joint Global Coordinators & Joint Bookrunners)

Timing:

• ITF: 1 June 2021
• PDIE: 1 to 8 June 2021
• Bookbuilding: 8 to 10 June 2021
• First day of trading: 11 June 2021

Craneware is the leader in automated revenue integrity solutions that improve the financial performance of US healthcare organisations.

Company: Craneware Plc

Ticker: CRW LN

Country: United Kingdom

Sector: Software & IT Services (Healthcare)

Listing: London Stock Exchange (AIM)

Market Cap pre Transaction: c. GBP 660m

Offering: GBP 136m

Offer price: GBP 22.00

Use of proceeds: To part-finance the acquisition of Sentry Data Systems

Berenberg Role: Joint Bookrunner

Syndicate: Joint Bookrunners: Berenberg, Peel Hunt, Investec, Goldman Sachs

Timing:

Launch: 07 June 2021

Pricing: 08 June 2021

Settlement: 10 June 2021

The Italian Sea Group

The Italian Sea Group is one of the global operators in the luxury yachting industry, active in the construction and refit of motor yachts and sailing yachts up to 100 meters. The company is active in the market with its brands Admiral and Tecnomar; the company also has a business unites which handles repairing and refit services with a focus on yachts and mega yachts with a length exceeding 60 meters.

Ticker: TISG IM

Country: Italy

Sector: Leisure / Yacht Maker

Listing: MTA Borsa Italiana

Offer Structure:

Total: 19.8m shares (c. EUR 97m)

• Primary: 9.5m shares
• Secondary: 6.5m shares plus 2.0m shares upsize option
• Greenshoe: 1.8m existing shares

Final Offer Price: EUR 4.90 per share

Initial Price Range: EUR 4.70 to 4.90 per share

Market Cap at IPO: c. EUR 260m

Use of Proceeds: Acquisition of new production areas; Acquisition of new areas and/or facilities to further develop the activities of the NCA Refit Division

Berenberg Role: Joint Global Coordinator & Joint Bookrunner

Syndicate: Berenberg, Intermonte (Joint Global Coordinators & Joint Bookrunners)

Timing:

• ITF: 17 May 2021
• PDIE: 17 to 25 May 2021
• Bookbuilding: 27 May to 3 June 2021
• First day of trading: 8 June 2021

Fagron NV supplies pharmaceutical raw materials, equipment and supplies, concepts and pharmaceutical compounding to pharmacies and hospital pharmacies. The Company also develops 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 1.4bn

Selling Shareholders: Alychlo NV

Offer Structure: Placement of 3.6m existing shares (c. 5.0% of current outstanding share capital, c. EUR 65m)

Offer Price: EUR 18.10 per share

Berenberg Role: Joint Global Coordinator & Joint Bookrunner

Syndicate: Berenberg, Belfius and KBC Securities (Joint Global Coordinators & Joint Bookrunners)

Timing:

• Launch: 26 May 2021
• Pricing: 27 May 2021

Plymouth Industrial REIT focuses on the acquisition of single and multi-tenant properties located in secondary and select primary markets.

Ticker: PLYM US

Country: United States

Sector: Real Estate - REITs

Listing: New York Stock Exchange

Market Cap pre Transaction: c. USD 567m

Offer Structure: $125m At-the-Market Offering

Use of Proceeds: Acquisition of additional industrial properties, working capital, debt repayment, and other general purposes

Berenberg Role: Sales Agent

Timing:

• Launch: 26 May 2021

Alpha FMC provides a range of consulting services to the global asset and wealth management industry

Company: Alpha Financial Markets Consulting Plc

Ticker: AFM LN

Country: United Kingdom

Sector: Business Services

Listing: London Stock Exchange (AIM)

Market Cap pre Transaction: c. GBP 330m

Offering: GBP 31m

Offer price: GBP 3.25

Use of proceeds: To part-fund the initial cash consideration payable for the acquisition of Lionpoint, while maintaining balance sheet strength and capital flexibility

Berenberg Role: Joint Bookrunner

Syndicate: Joint Bookrunners: Berenberg, Investec

Timing:

Launch: 20 May 2021

Pricing: 21 May 2021

Settlement: 25 May 2021

Omega Healthcare Investors is a triple-net, equity REIT that supports Skilled Nursing Facility and Assisted Living Facility operators with financing and capital.

Ticker: OHI US

Country: United States

Sector: Real Estate - REITs

Listing: New York Stock Exchange

Market Cap pre Transaction: c. USD 8,428m

Offer Structure: $1,000m At-the-Market Offering

Use of Proceeds: To fund potential acquisitions, development and investment opportunities, or for general corporate purposes, including the repayment of our outstanding indebtedness

Berenberg Role: Sales Agent

Timing:

• Launch: 20 May 2021

Focus Home Interactive is one of the leading European publishers, distributors and developers of video games. Its mission is to support leading French and international studios in the development, production monitoring, marketing, commercialisation and financing of their projects.

Ticker: ALFOC FP
Country: France
Sector: Gaming
Listing: Euronext Growth Paris

Market Cap pre Transaction: c. EUR 360m

Offer Structure: Placement of 1,050,000 new shares (19.70% of current pre-money share capital, c. EUR 70m)

Offer Price: EUR 67.00 per share

Berenberg Role: Joint Global Coordinator & Joint Bookrunner

Syndicate: Berenberg (Joint Global Coordinator & Joint Bookrunner) and MidCap, a division of TP ICAP (Joint Global Coordinator & Joint Bookrunner)

Timing:

• Launch: 18 May 2021
• Pricing: 19 May 2021

Befesa offers waste recycling services. The Company specializes in collection and recycling of steel dust and aluminium residues, other related industrial services, and logistics. Befesa also focuses on treatment of hazardous waste from secondary aluminium producers. Befesa serves hazardous waste markets in Europe and Asia.

Ticker: BFSA GY

Country: Germany

Sector: Business Services

Listing: Frankfurt Stock Exchange

Market Cap pre Transaction: c. EUR 2.1bn

Selling Shareholders: Bestinver SA

Offer Structure: Placement of 1,702,997 existing shares (5.0% of current share capital, c. EUR 100m)

Offer Price: EUR 58.50 per share

Berenberg Role: Sole Global Coordinator & Sole Bookrunner

Syndicate: Berenberg (Sole Global Coordinator & Sole Bookrunner)

Timing:

• Launch: 17 May 2021
• Pricing: 18 May 2021

John Menzies is a support services business providing global aviation services, including ground-handling and into-plane-refuelling operations.

Company: John Menzies Plc

Ticker: MNZS LN

Country: United Kingdom

Sector: Aviation Services

Listing: London Stock Exchange (Main market)

Market Cap pre Transaction: c. GBP 260m

Offering: GBP 21m

Offer price: GBP 2.90

Use of proceeds: To accelerate the delivery of strategic objectives and to execute against an identified pipeline of bolt-on acquisition targets in structural growth markets

Berenberg Role: Joint Bookrunner

Syndicate: Joint Bookrunners: Berenberg, Peel Hunt

Timing:

Launch: 11 May 2021

Pricing: 12 May 2021

Settlement: 17 May 2021

Montana Aerospace is a manufacturer and supplier of specialist parts and systems to the aerospace, automotive and energy markets. The company operates a highly vertically integrated business model and offers materials competence across the supply chain.

Ticker: AERO SW
Country: Switzerland
Sector: Aerospace
Listing: SIX Swiss Exchange (International Reporting Standard)

Final Offer Structure:

Total: 19,727,096 shares (c. CHF 506m)

• Primary: 17,153,997 new shares (c. CHF 440m)
• Greenshoe: 2,573,099 existing shares (c. CHF 66m)

Final Offer Price: CHF 25.65 per share

Initial Price Range: CHF 24.15 – 25.65 per share

Market Cap at IPO: c. CHF 1.2bn

Use of proceeds: Predominantly for inorganic growth programmes through strategic acquisitions to further consolidate the supply chain with the aim of unlocking attractive synergies and returns. The remaining part of the net proceeds will be used for further organic growth activities, with the majority being backed by contracts and that had already been started before the announcement of the IPO.

Berenberg Role: Sole Global Coordinator & Joint Bookrunner

Syndicate: Berenberg (Sole Global Coordinator & Joint Bookrunner), Commerzbank and ZKB (Joint Bookrunners)

Timing:

• ITF: 23 April 2021
• Investor Education: 23 April – 30 April 2021
• Bookbuilding: 04 May – 11 May 2021
• First Day of Trading: 12 May 2021

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 c.50% of sales followed by North America contributing another c.30% and leaving c.20% 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 6.4bn

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

Offer Structure: Placement of 9.6m existing shares (4.9% of current share capital, c. EUR 300m, upsized from c. EUR 250m)

Offer Price: EUR 31.30 per share

Berenberg Role: Joint Global Coordinator & Joint Bookrunner

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

Timing:

• Launch: 10 May 2021
• Pricing: 11 May 2021

JTC is an independent and regulated provider of outsourced corporate, private wealth and fund administration, reporting and fiduciary services.

Company: JTC Plc

Ticker: JTC LN

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

Market Cap pre Transaction: c. GBP 780m

Offering: GBP 66m

Offer price: GBP6.20

Use of proceeds: To underpin the Group’s ability to deliver its on-going growth strategy, with the net proceeds of the placing being used to reduce net debt and maintain a strong balance sheet. This will provide the Group with greater flexibility to execute on its strong near and medium term M&A pipeline whilst remaining within the Group’s stated leverage range

Berenberg Role: Joint Bookrunner

Syndicate: Joint Bookrunners: Berenberg, Numis Securities Limited

Timing:

Launch: 29 April 2021

Pricing: 30 April 2021

Settlement: 05 May 2021

Issuer: Darktrace Plc
Ticker: DARK LN
Listing Country: United Kingdom
Sector: Technology
Listing: London Stock Exchange (Main Market, Premium Segment)

Final Offer Structure:

• Total: 75,942,439 shares (c. GBP 189.9m)
• Primary: 57,376,000 shares (c. GBP 143.4m)
• Secondary: 8,660,904 shares (c. GBP 21.7m)
• Greenshoe: 9,905,535 (c. GBP 24.8m)

IPO Price: GBP 2.50
Market Cap at IPO: c. GBP 1.7bn
Use of Primary Proceeds: To accelerate new product development, drive broader awareness of the Company’s products globally and to provide balance sheet strength and financial flexibility

Berenberg Role: Joint Global Coordinator & Joint Bookrunner
Timing:

• Investor Education: 12 April – 23 April 2021
• Bookbuilding: 26 April – 29 April 2021
• Pricing; Trade Date, First Day of Trading: 01 March 2021
• Settlement: 06 May 2021

Nilar is a designer and manufacturer of battery cells and complete electrical energy storage (EES) solutions based on its proprietary nickel-metal-hydride battery technology (NiMH)

Issuer: Nilar International AB
Ticker: NILAR SS
Country: Sweden
Sector: Capital Goods (CleanTech)
Listing: Nasdaq First North Premier Growth Market

Offer Structure:

• Total: 12,873,133 shares (SEK 862m / USD 103m)
• Secondary: 11,194,029 shares (SEK 750m / USD 89m)
• Greenshoe (secondary): 1,679,104 shares (SEK 112m / USD 13m)

Fixed IPO Price: SEK 67.00
Cornerstone Investors: AFA Försäkring, BNP Paribas Energy Transition Fund, Fjärde AP-fonden (AP4), Första AP-fonden (AP1), funds managed and advised by Handelsbanken and Länsförsäkringar Fondförvaltning have, subject to certain conditions, undertaken to acquire shares in the Offering for an amount of approximately SEK 489 million. The undertakings represent, in aggregate, 16.1% of the total number of outstanding shares in the Company and 65.2% of the number of shares in the Offering (and 56.7% of the number of shares in the Offering assuming the over-allotment option is exercised in full)

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

• Launch Date: 15 April 2021
• Bookbuilding: 23 April - 29 April 2021
• First Day of Trading: 30 April 2021

468 SPAC I SE is a special purpose acquisition company (“SPAC”) targeting a Western European-based company in the Marketplaces, Direct-to-Consumer (D2C) or Software & AI space with a strong competitive position.

Issuer: 468 SPAC I SE
Sponsor: Alexander Kudlich, Ludwig Ensthaler, Florian Leibert (Founders of investment fund 468 Capital)
Ticker: SPAC GY (Shares), SPAW GY (Warrants)
Country: Germany
Sector: Technology
Listing: Frankfurt Stock Exchange

Offer type: SPAC via Initial Public Offering (IPO)

Deal size: EUR 300m

Offer price: EUR 10.00 per unit

Unit structure:

• 1 Class A Share
• 1/3 Class A Warrant

Warrant terms:

• 1 whole Class A Warrant entitles the holder thereof to purchase 1 Class A Share at a price of €11.50 per share
• 5 year exercise period from BC completion
• The Company may redeem the Public Warrants only if there is at the time of the call a significant premium to the Public Warrant exercise price or if the Company offers the possibilty of a MakeWhole Exercise as described in the Prospectus

Business Combination criteria: Business operations in a member state of the European Economic Area or the United Kingdom or Switzerland in the sub-sectors marketplaces, direct-to-consumer (D2C) and software & artificial intelligence (Targeted Technology Sectors)

Cash in escrow: 100% of proceeds

Sponsor commitment:

• EUR 10.8m capital paid-in by Sponsor & Co-Sponsors (EUR 8.25m capital at-risk to cover listing fees and working capital requirements, EUR 1.35m additional sponsor subscription for negative interest cover, EUR 1.2m for Class B Shares as an additional purchase for management salaries and due diligence expenses

Sponsor promote:

• Founder shares representing 20% of offering size

Negative interest:

• Sponsor will cover negative interest with the proceeds from an additional sponsor subscription of Sponsor Warrants for EUR 1.35m

Business Combination:

• Any Business Combination will require approval of a majority of the votes cast at the general shareholders' meeting of the Company

Timeframe: 24 months to complete a Business Combination, plus an additional three months if a legally binding agreement with the seller of a target within those initial 24 months is signed

Berenberg Role: Sole Global Coordinator and Sole Bookrunner
Timing:

• ITF: 13 April 2021
• Bookbuilding: 27 April - 28 April 2021
• First Day of Trading: 30 April 2021

PolyPeptide is a leading peptide drug CDMO, manufacturing peptide drug substances for pharmaceutical and biotech companies from development to commercial stage.

Ticker: PPGN SW
Country: Switzerland
Sector: Biotechnology (Peptide CDMO)
Listing: SIX Swiss Exchange

Offer Structure:

• Total: 13,250,001 shares (c. CHF 848m)
• Primary: 3,125,000 newshares (CHF 200m)
• Secondary: 8,396,740existing shares (c. CHF 537m)
• Greenshoe Option: 1,728,261existing shares (c. CHF 111m)

​​​​IPO Range: CHF 57.00 – CHF 68.00 per share

Final IPO Price: CHF 64.00 per share

Market Cap at IPO: CHF 2.1bn

Selling Shareholder: Draupnir Holding BV

Syndicate: Credit Suisse, Morgan Stanley, Bank of America (Joint Global Coordinators & Joint Bookrunners); Berenberg, Danske Bank, Zurcher Kantonalbank (Joint Bookrunners)

Berenberg Role: Joint Bookrunner
Timing:

• Launch Date: 21 April 2021
• Bookbuilding: 21 - 28 April 2021
• First Day of Trading: 29 April 2021

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

Ticker: EPRT US
Country: United States
Sector: REITs
Listing: NYSE

Market Cap pre Transaction: c. USD 2,829m
Offer Structure: 7,150,000 upsized base offering (c. USD 168m)
Issue Price: USD 23.50 per share (3.6% discount to close)

Berenberg Role: Co-Manager

Timing:

• Launch: 12 April 2021
• Pricing: 12 April 2021

NETSTREIT Corp acquires, owns and manages a portfolio of single-tenant retail commercial real estate focused on tenants in the retail sector

Ticker: NTST US
Country: United States
Sector: REITs
Listing: NYSE

Market Cap pre Transaction: c. USD 752m
Offer Structure: 9,491,903 upsized base offering (c. USD 177m)
Issue Price: USD 18.65 per share (2.5% discount to close)

Berenberg Role: Co-Manager

Timing:

• Launch: 5 April 2021
• Pricing: 7 April 2021

Mithra Pharmaceuticals SA

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: Pharmaceuticals
Listing: Regulated Market of Euronext Brussels

Market Cap pre Transaction: c. EUR 1.2bn
Selling Shareholders: Alychlo N.V.
Offer structure: Placement of 1.57m existing shares (c. 3.6% of current outstanding share capital, c. EUR 42.7m)
Offer price: EUR 25.50 per share

Berenberg Role: Sole Global Coordinator & Sole Bookrunner
Timing:

• Launch: 31 March 2021
• Pricing: 31 March 2021

Ekopak is a Belgian industrial water treatment company with over 17 years of experience.

Ticker: EKOP BB
Country: Belgium
Sector: Alternative Water Supply /Water-as-a-Service
Listing: Regulated Market of Euronext Brussels

Offer Structure:

• Total: 4,258,928 shares (c. EUR 60m)
• Primary: 3,571,428 newshares (c. EUR 50.0m)
• Secondary: 214,286existing shares (c. EUR 3.0m)
• Greenshoe Option: 473,214new shares (c. EUR6.6m)

​​​​IPO Range: EUR 14.00 – EUR 16.75 per share

Final IPO Price: EUR 14.00 per share

Market Cap at IPO: EUR 208m

Selling Shareholder: Pilovan BV

Syndicate: Berenberg (Sole Global Coordinator & Joint Bookrunner); KBC Securities (Joint Bookrunner)

Berenberg Role: Sole Global Coordinator & Joint Bookrunner
Timing:

• Launch Date: 29 March 2021
• Bookbuilding: 25 March - 30 March 2021
• First Day of Trading: 31 March 2021

The Pebble Group has two businesses operating in the promotional product market: Brand Addition (BA), anpromotional merchandise business for large corporates, and Facilisgroup (FG), an enterprise software provider.

Company: The Pebble Group Plc
Ticker: PEBB LN
Country: United Kingdom
Sector: Advertising & Marketing
Listing: London Stock Exchange (AIM)

Market Cap pre Transaction: c. GBP 235m

Offering: 14m shares (c. GBP 18.9m, c. 8.4% if existing share capital)

Offer price: GBP 1.35

Selling shareholder: Funds managed by Elysian Capital (“Elysian”), holding pre-transaction c. 13.9% of current share capital in the Company

Berenberg Role: Sole Global Coordinator / Sole Bookrunner

Timing:

• Launch: 31 March 2021
• Pricing: 31 March 2021

NFON is a leading Germany-based provider of B2B cloud telephony solutions with a pan-European SME focus.

Ticker: NFN GY
Country: Germany
Sector: Telecommunications
Listing: Regulated Market of Frankfurt Stock Exchange (Prime Standard)

Market Cap pre Transaction: c. EUR 277m
Offer Structure: 1,505,555 primary shares (c. EUR 26m)
Issue Price: EUR 17.50 per share

Use of proceeds: To finance further growth, in particular for (1) the further development of the product portfolio through internal development projects or technology investments, (2) the expansion of the pan-European partner network as well as (3) marketing activities.

Berenberg Role: Sole Global Coordinator & Sole Bookrunner
Timing:

• Launch: 25 March 2021
• Pricing: 26 March 2021
• First Day of Trading: 26 March 2021

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 49.6bn

Offer Structure: 53,000,000 primary shares (c. EUR 2.3bn)

Issue Price: EUR 44.10 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 which has been partly replaced by the first capital increase in September 2020 and most recently by way of USD term loan facilities with different tenors.

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

• Launch: 24 March 2021
• Pricing: 25 March 2021
• First Day of Trading: 30 March 2021

FRIEDRICH VORWERK Group SE

Friedrich Vorwerk (“Vorwerk”) is a Germany-based high value-add energy infrastructure engineering company that provides solutions and services for the energy transition.

Ticker: VH2 GY
Country: Germany
Sector: Energy Infrastructure
Listing: Regulated Market of Frankfurt Stock Exchange (Prime Standard)

Offer Structure:

• Total: 9,200,000 shares (c. EUR 414m)
• Total Primary shares: 2,000,000 shares
• Thereof Secondary shares: 6,000,000 existing shares
• Thereof Over-Allotment Option: 1,200,000 existing shares

​​​​IPO Range: EUR 42.00 to EUR 56.00 per share

Final IPO Price: EUR 45.00 per share

Market Cap at IPO: EUR 900m

Selling Shareholder: MBB SE, Founder & CEO Torben Kleinfeldt via ALX Beteiligungsgesellschaft mbH

Syndicate: Berenberg, Jefferies (Joint Global Coordinators & Joint Bookrunners) Hauck & Aufhäuser (Joint Bookrunner)

Berenberg Role: Joint Global Coordinator & Joint bookrunner
Timing:

• Launch Date: 08 March 2021
• Bookbuilding: 16 March - 23 March 2021
• First Day of Trading: 25 March 2021

Trustpilot is a leading global review platform, which creates a place where businesses and consumers can gain actionable insights and collaborate.

Issuer: Trustpilot Group
Ticker: TRUST LN
Listing Country: United Kingdom
Sector: Technology
Listing: London Stock Exchange (Premium Listing)

Final Offer Structure:

• Total: 205,385,931 shares (c. GBP 544m / c. USD 754m)
• Primary: 17,620,906 shares (c. GBP 47m / c. USD 65m)
• Secondary: 160,975,555 shares (c. GBP 427m / c. USD 591m)
• Over-allotment (all secondary): 26,789,470 shares (c. GBP 71m / c. USD 98m)

IPO Price: GBP 2.65
Market Cap at IPO: c. GBP 1.1bn / c. USD 1.5bn
Use of Proceeds: To support Trustpilot’s growth plans and repay indebtedness

Berenberg Role: Joint Bookrunner
Timing:

• Investor Education: 01 March – 15 March 2021
• Bookbuilding: 16 March – 22 March 2021
• Pricing; Trade Date; Start of Conditional Trading: 23 March 2021
• Start of Unconditional Trading: 26 March 2021

Marlowe is a UK provider of regulated safety and compliance services for commercial organisations. It provides a range of closely related regulated safety and compliance services

Company: Marlowe Plc
Ticker: MRL LN
Country: United Kingdom
Sector: Business Services
Listing: London Stock Exchange (AIM)

Market Cap pre Transaction: c. GBP 430m

Offering: GBP 100m

Offer price: GBP6.90

Use of proceeds: To provide the Group with additional resources with which to capitalise on acquisition opportunities in the short to medium term and are expected to be deployed by the Group into accretive acquisitions over the next six to twelve months

Berenberg Role: Joint Bookrunner

Syndicate: Joint Bookrunners: Berenberg, Cenkos, Goldman Sachs

Timing:

• Launch: 18 March 2021
• Pricing: 19 March 2021
• Settlement: 25 March 2021

XLMedia (XLM) is a performance marketing company, specialising in directing highvalue users to real-money, social gaming and financial platforms.

Company: XLMedia Plc
Ticker: XLM LN
Country: United Kingdom
Sector: Advertising & Marketing
Listing: London Stock Exchange (AIM)

Market Cap pre Transaction: c. GBP 90m

Offering: GBP 23.5m

Offer price: GBP0.40

Use of proceeds: To fund a portion of the cash consideration to acquire the business and assets of Sports Betting Dime ("SBD") for a total approximate consideration of $26.0 million (c.£18.5 million)

Berenberg Role: Joint Bookrunner

Syndicate: Joint Bookrunners: Berenberg, Cenkos

Timing:

Launch: 18 March 2021

Pricing: 18 March 2021

Ceres Power is a fuel cell technology and engineering company. It works with leading OEMs to commercialise its core technology (SteelCell) in mass-market energy products for the commercial, residential and transportation markets.

Company: Ceres Power Holdings
Ticker: CWR LN
Country: United Kingdom
Sector: Industrials
Listing: London Stock Exchange (AIM)

Market Cap pre Transaction: c. GBP 2.0bn

Total offering: GBP 181m

Offer price: GBP10.60

Use of proceeds: To capitalise on further growth opportunities in solid oxide fuel cells, opening up new markets with higher power applications and market sectors; invest in new opportunities in solid oxide electrolysis cell royalty opportunity; invest in the core business, accelerating innovation and development, maintain technology leadership, and general working capital

Berenberg Role: Joint Bookrunner

Syndicate: Joint Bookrunners: Berenberg, Investec

Timing:

Launch: 17 March 2021

Pricing: 18 March 2021

Settlement: 22 March 2021

Vantage Towers is a leading European operator and owner of telecommunication tower portfolios.

Issuer: Vantage Towers AG
Ticker: VTWR GY
Country: Germany
Sector: Telecommunications
Listing: Frankfurt Stock Exchange (Prime Standard)

Offer Structure:

• Total: 95,833,334 shares (EUR 2.3bn)
• Secondary: 83,333,334 shares (EUR 2.0bn)
• Greenshoe (secondary): 12,500,000 shares (EUR 0.3bn)

IPO Range: EUR 22.50 to EUR 29.00
Final IPO Price: EUR 24.00
Market Cap at IPO: EUR 12.1bn
Selling Shareholder: Vodafone

Syndicate: Bank of America, Morgan Stanley, UBS (Joint Global Coordinators and Joint Bookrunners), Berenberg , Barclays, BNP Paribas, Deutsche Bank, Goldman Sachs, Jefferies (Joint Bookrunners)
Berenberg Role: Joint Bookrunner
Timing:

• Launch Date: 09 March 2021
• Bookbuilding: 09 March - 17 March 2021
• First Day of Trading: 18 March 2021

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

Ticker: EMBRACB SS
Country: Sweden
Sector: Video Gaming

Market Cap pre Transaction: c. SEK 95.0bn
Offer Structure: 36,000,000 primary shares (c. USD 900m)
Issue Price: SEK 210.00 per share
Use of proceeds: Strengthening of the company's financial position and to enable the company to continue executing its successful acquisition strategy by complementing existing operations with new game publishers, game development studios or other assets

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

• Launch: 17 March 2021
• Pricing: 18 March 2021

Global Medical REIT Inc. is a net-lease medical office REIT that acquires purpose-built specialized healthcare facilities and leases those facilities to healthcare systems and physician groups

Ticker: GMRE US
Country: United States
Sector: Real Estate - REITs
Listing: NYSE

Market Cap pre Transaction: c. USD 813m
Offer Structure: 7,500,000 base offering (c. USD 100m) + 1,125,000 greenshoe (c. USD 15m)
Issue Price: USD 13.30 per share (9.0% discount to close)

Berenberg Role: Co-Manager

Timing:

• Launch: 16 March 2021
• Pricing: 16 March 2021

Frontier is a newly organized SPAC with a management team including senior investment professionals from Apeiron Investment Group and Falcon Edge Capital.

Issuer: Frontier Acquisition Corp
Ticker: FRONU US
Country: Cayman Islands
Sector: Special Purpose Acquisiton Company (SPAC)
Listing: NASDAQ

Offer Structure:

• Primary: 20,000,000 units (USD 200.0m)
• Greenshoe: 3,000,000 units (USD 30.0m)
• Unit Price: USD 10.00 per share
• Unit Structure: 1 Class A Ordinary Share + 1/4 of 1 Redeemable Warrant

Market Cap at IPO: USD 258m

Syndicate: Credit Suisse, Berenberg
Berenberg Role: Joint Bookrunner
Timing:

• Launch Date: 10 March 2021
• Bookbuilding: 10 March 2021
• Pricing: 10 March 2021
• First Day of Trading: 11 March 2021

tinyBuild is a leading video games publisher and developer primarily focused on Premium AA and Indie games with major operations in the United States and Europe.

Issuer: tinyBuild Inc
Ticker: TBLD LN
Listing Country: United Kingdom
Sector: Media (Video Gaming)
Listing: London Stock Exchange (AIM Market)

Final Offer Structure:

• Total: 91,377,667 shares (c. GBP 154.4m)
• Primary: 21,438,985 shares (c. GBP 36.2m)
• Secondary: 69,938,682 shares (c. GBP 118.2m)

IPO Price: GBP 1.69
Market Cap at IPO: c. GBP 341m
Use of Proceeds: To strengthen the existing business through investment into people; existing and future titles; and grow network of development studios. Acquire businesses which provide a platform for growth or facilitate growth in the wider group. Expand IP into multi-game offerings with the goal of creating robust, long-life franchises. Expand the Company’s cross-media offering

Berenberg Role: Joint Global Coordinator & Joint Bookrunner
Timing:

• Investor Education: 11 February – 22 February 2021
• Bookbuilding: 23 February – 26 February 2021
• Pricing; Trade Date: 01 March 2021
• First Day of Trading: 09 March 2021

Fastned B.V. is a Dutch developer and operator of large fast-charging sites for Electric Vehicles.

Ticker: FAST NA
Country: Netherlands
Sector: Energy Transition (EV Charging)
Listing: Regulated Market of Euronext Amsterdam

Market Cap pre Transaction: c. EUR 1.4bn
Offer Structure: 1,875,000 new securities (EUR 150m)
Issue Price: EUR 80.00 per share
Use of Proceeds: Funding part of its capex plan that consists of expanding the capacity of its existing stations, building its committed pipeline of 164 charging stations, accelerate the development of its potential pipeline, and fund capex for significant upcoming government related tenders, including in France and Germany, as well as for general corporate purposes.

Berenberg Role: Sole Global Coordinator & Sole Bookrunner
Timing:

• Launch: 25 February 2021
• Pricing: 25 February 2021

Anglo Pacific Group is the only company listed on the LSE that is focused on royalties connected with the mining of natural resources.

Company: Anglo Pacific Group

Ticker: APF LN

Country: United Kingdom
Sector: Mining
Listing: London Stock Exchange (Main Market) and the Toronto Stock Exchange

Market Cap pre Transaction: c. GBP 240m

Offering: GBP 43m

Offer price: GBP1.28

Use of proceeds: Proceeds will be used to part fund the acquisition of an interest in a stream on cobalt production from the Voisey’s Bay mine in Canada for cash consideration of USD 205m and contingent consideration of up to USD 27m

Berenberg Role: Joint Bookrunner

Syndicate: Joint Bookrunners: Berenberg, Peel Hunt, RBC

Timing:

Launch: 24 February 2021

Pricing: 24 February 2021

Settlement: 26 February 2021

ATOSS Software is a German-based, founder-led provider of advanced workforce management (WFM) software designed to help companies enhance employee efficiency and productivity and save costs by
optimising the utilisation of their workforce

Ticker: AOF GY
Country: Germany
Sector: Software
Listing: Regulated Market of Frankfurt Stock Exchange (Prime Standard)

Market Cap pre Transaction: c. EUR 1.4bn
Selling Shareholders: Member of the founding family
Offer structure: Placement of 480,000 existing shares (6.0% of current outstanding share capital, c. EUR 77m)
Offer price: EUR 160.00 per share

Berenberg Role: Sole Global Coordinator & Sole Bookrunner
Timing:

• Launch: 24 February 2021
• Pricing: 24 February 2021

Europcar Mobility Group SA is a holding company, which is engaged in the provision of car rental solutions to corporate and individual clients. Its subsidiaries and franchise partners operate agencies located throughout Europe, Africa, Asia, and the Americas. The company's brands include Europcar and InterRent.

Ticker: EUCAR FP

Country: France

Sector: Car Rental/Leasing

Listing: Euronext Paris

Transaction: Sell-down of 29.9% by Eurazeo

Berenberg Role: Sole Global Coordinator & Sole Bookrunner

Timing: February 2021

Safehold operates as a real estate investment trust, which focuses on acquiring, owning, managing and capitalizing ground leases. The company’s property is generally leased on a triple net basis.

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

Market Cap pre Transaction: c. USD 4,457m
Offer Structure: $250m At-the-Market Offering
Use of Proceeds: Funding investment activity, the repayment of outstanding indebtedness, working capital and other general purposes

Berenberg Role: Sales Agent
Timing:

• Launch: 18 February 2021

Chegg is an education technology company which provides digital and physical textbook rentals, online tutoring, and other student services.

Ticker: CHGG US
Country: United States
Sector: Education Technology
Listing: NYSE

Market Cap pre Transaction: c. USD 14,396m
Offer Structure: 9,804,000 base offering (c. USD 1,000m) + 1,470,600 greenshoe (c. USD 150m)
Issue Price: USD 120 per share (1.4% discount to close)

Berenberg Role: Co-Manager

Timing:

• Launch: 16 February 2021
• Pricing: 18 February 2021

NACON SA is a developer/publisher of video games and a designer/manufacturer of market-leading gaming accessories.

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

Market Cap pre Transaction: EUR 720m
Selling Shareholders: Bigben Interactive SA
Offer structure: 3,002,185 existing shares (3.5% of current outstanding share capital)
Offer price: EUR 8.00 per share

Berenberg Role: Joint Global Coordinator & Joint Bookrunner
Syndicate: Berenberg, BNP Paribas, TP ICAP (Joint Global Coordinators & Joint Bookrunners)
Timing:

• Launch: 12 February 2021
• Pricing: 12 February 2021

ESG Core Investments B.V. is a special purpose acquisition company (“SPAC”) aiming to unlock a unique investment opportunity in Europe within industries that benefit from strong Environmental, Social and Governance (ESG) profiles. ESG Core Investments is the first ESG dedicated SPAC in Europe.

Issuer: ESG Core Investments B.V.
Sponsor: Infestos Sustainability B.V.
Ticker: ESG NA (Shares), ESGWA NA (Warrants)
Country: Netherlands
Sector: ESG
Listing: Euronext Amsterdam

Offer type: SPAC via Initial Public Offering (IPO)

Deal size: EUR 250m (initial offer range EUR 200m-250m)

Offer price: EUR 10.00 per unit

Unit structure:

• 1 Ordinary Share
• 0.125 IPO-Warrant (to be received at IPO)
• 0.125 BC-Warrant (to be received upon completion of the Business Combination)

Warrant terms:

• 1 whole warrant entitles the holder thereof to purchase 1 Ordinary Share at a price of €11.50 per share
• 5 year exercise period from BC completion
• Warrants redeemable by the Company if share price equals or exceeds €18.00 (for 20 trading days in a 30 trading days period)
• BC-Market Warrants will be fungible with the IPO-Market Warrants

Business Combination criteria: Clear ESG focus in the core of its business, preferably headquartered in (North-Western) Europe and enjoying a strong competitive position within its industry, ideally based on a unique technology

Cash in escrow: 100% of proceeds

Sponsor commitment:

• EUR 5.00m – EUR 6.25m (depending on the final deal size) investment in Founder Warrants to finance expenses related to the Offering and working capital
• EUR 15m Sponsor Cornerstone Investment at same terms and conditions as ordinary shareholders

Sponsor promote:

• Founder shares representing 20% of offering size
• 1:1 conversion to Ordinary Shares post BC

Business Combination:

• 70% approval required
• In the case of a successful Business Combination, the Company will buy back ordinary shares from dissenting shareholders who will receive their initial investment less negative interest payable on the escrow account
• If no Business Combination is completed by the deadline, the Company will be dissolved and liquidated and the remaining assets will be reimbursed to the shareholders

Timeframe: 24 months to complete a Business Combination

Syndicate: Berenberg, ABN AMRO (Joint Global Coordinators and Joint Bookrunners), Kempen & Co. (Co-Bookrunner)
Berenberg Role: Joint Global Coordinator and Joint Bookrunner
Timing:

• ITF: 04 February 2021
• Bookbuilding: 10 February - 11 February 2021
• First Day of Trading: 12 February 2021

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

Ticker: NNOX US
Country: Israel
Sector: Medical-Technology
Listing: NASDAQ

Market Cap pre Transaction: c. USD 3,352m
Offer Structure: 3,091,635 offering (c. USD 193m)
Issue Price: USD 62.50 per share (15.0% discount to close)

Berenberg Role: Lead Manager

Timing:

• Launch: 8 February 2021
• Pricing: 10 February 2021

Sensei Biotherapeutics is a clinical-stage biopharmaceutical company developing immunotherapies that target key components of the immune system with an initial focus on treatments for cancer.

Issuer: Sensei Biotherapeutics
Ticker: SNSE US
Country: United States
Sector: Biotech
Listing: NASDAQ

Offer Structure:

• Primary: 7,000,052 shares (upsized from 5,885,000, c. USD 133.0m)
• Greenshoe: 1,050,007 shares (c. USD 20.0m)
• Final IPO Price: USD 19.00 per share
• IPO Range: USD 16.00 to USD 18.00 per share

Market Cap at IPO: USD 562m

Syndicate: Citi, Piper Sandler, Berenberg, Oppenheimer
Berenberg Role: Joint Bookrunner
Timing:

• Launch Date: 1 February 2021
• Bookbuilding: 1-3 February 2021
• Pricing: 3 February 2021
• First Day of Trading: 4 February 2021

CureVac is a clinical-stage biopharmaceutical company developing a class of transformative medicines based on mRNA technology, including a Phase 3 prophylactic for COVID-19.

Ticker: CVAC US
Country: Germany
Sector: Healthcare - Biotech
Listing: NASDAQ

Market Cap pre Transaction: c. USD 17,661m
Offer Structure: 5,000,000 base offering (c. USD 450m)
Issue Price: USD 90 per share (4.8% discount to close)

Berenberg Role: Bookrunner

Timing:

• Launch: 25 January 2021
• Pricing: 27 January 2021

Supreme is a leading manufacturer, distributor and brand owner of consumer staple products with a varied customer base of discount retailers and grocers, primarily in the UK.

Issuer: Supreme plc
Ticker: SUP LN
Country: United Kingdom
Sector: Consumer Staples
Listing: London Stock Exchange (AIM Market)

Final Offer Structure:

• Total: 50,373,135 shares (c. GBP 67.5m)
• Primary: 5,597,015 shares (c. GBP 7.5m)
• Secondary: 44,776,120 shares (c. GBP 60m)

IPO Price: GBP 1.34
Market Cap at IPO: c. GBP 156m
Use of Proceeds: To partially repay existing debt

Berenberg Role: Sole Global Coordinator & Sole Bookrunner
Timing:

• Investor Education: 05 January – 13 January 2021
• Bookbuilding: 14 January – 25 January 2021
• Pricing; Trade Date: 27 January 2021
• First Day of Trading: 01 February 2021

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
Country: Belgium
Sector: Technology (FinTech)
Listing: Regulated Market of Euronext Brussels

Market Cap pre Transaction: EUR 680m
Selling Shareholders: Smartfin Capital NV, DVP Invest and various individuals, who invested already pre-IPO
Offer structure: 2,623,864 existing shares (8.5% of current outstanding share capital)
Offer price: EUR 21.00 per share

Berenberg Role: Sole Global Coordinator & Sole Bookrunner
Timing:

• Launch: 21 January 2021
• Pricing: 21 January 2021

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 4.1bn

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

Offer Structure: Placement of 21,000,000 existing shares (10.7% of current share capital, c. EUR 424m, upsized from c. EUR 375m)

Offer Price: EUR 20.20 per share

Berenberg Role: Joint Global Coordinator & Joint Bookrunner

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

Timing:

• Launch: 19 January 2020
• Pricing: 19 January 2020

American Well is a leading telehealth company that enables the digital delivery of care for healthcare’s key stakeholders.

Ticker: AMWL US
Country: United States
Sector: Healthcare - Telehealth
Listing: New York Stock Exchange

Market Cap pre Transaction: c. USD 5,737m
Offer Structure: 11,280,647 base offering (c. USD 310m)
Issue Price: USD 27.50 per share (4.3% discount to close)

Berenberg Role: Bookrunner

Timing:

• Launch: 12 January 2021
• Pricing: 11 January 2021

Realty Income Corp is a US Real Estate Investment Trust (REIT) focused on retail properties.

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

Market Cap pre Transaction: c. USD 21,573m

Offer Structure: 10,500,000 base offering (c. USD 599m) + 1,575,000 Greenshoe (c. USD 90m)

Issue Price: USD 57.05 per share (4.0% discount to close)

Use of Proceeds: To fund property acquisitions, pay down debt, general corporate purposes and working capital

Berenberg Role: Co-Manager

Timing:

• Launch: 11 January 2021
• Pricing: 11 January 2021

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 680m
Offer Structure: 262,179 treasury shares (EUR 17.3m)
Issue Price: EUR 66.00 per share
Use of proceeds: The Company intends to use the net proceeds to finance additional projects already identified in Belgium, Germany, France and Luxembourg

Berenberg Role: Joint Global Coordinator and Joint Bookrunner
Syndicate: Berenberg and KBC Securities (Joint Global Coordinators and Joint Bookrunners)
Timing:

• Launch: 5 January 2021
• Pricing: 5 January 2021