On June 26, the shares placed in the first tranche of OHB SE’s Re-IPO started trading on the Frankfurt Stock Exchange. This tranche consisted of an upsized €900 million private placement to institutional investors, resulting in €482 million in gross proceeds to OHB SE and up to €418 million to KKR, one of OHB SE's major shareholders. OHB SE’s majority shareholder, the Fuchs family, is not selling any shares and will remain the controlling shareholder of OHB SE with more than 60 percent of the share capital, while KKR will retain a stake of approximately 20 percent.
Proceeds from the capital increase are intended to accelerate production, expand capacity, and support strategic M&A opportunities, investments in launch vehicles and structures, and next-generation programs spanning lunar exploration, low-Earth orbit missions, and beyond.
OHB SE is a German space and technology group and one of the leading independent forces in the European space industry. OHB SE offers a broad portfolio of innovative products across the entire value chain of the space industry, from the development and realization of turnkey space systems for all applications, to the production of components for various launch vehicle programs, to service activities such as satellite operations and the processing and provision of the collected data.
S&C Frankfurt advised OHB SE on all German and U.S. capital markets law aspects of the transaction. The team was led by Carsten Berrar, Clemens Rechberger and Lars Rueve and included Tillmann Dehner. Jeff Hochberg and Saul Brander advised on tax matters.