Baker & McKenzie advised the financial investor Yorkville Advisors LLC of New Jersey once again on a standby equity distribution agreement (Standby Equity Distribution Agreement, SEDA). The commitment was given by the Swiss subsidiary of the SIX Swiss Exchange listed pharmaceutical company Santhera Pharmaceuticals Holding SA. The total value of the equity facility amounts to CHF10 million over a period of three years.
Yorkville Advisors offers innovative financing tools for listed technology companies. Equity capital on demand is becoming increasingly important in industries with high capital requirements in the product development phase, such as in the nanotech, cleantech and biotech sector. In the context of such an agreement, the listed company equity can flexibly access equity capital as needed and according to the state of the capital markets.
Baker & McKenzie has advised Yorkville Advisors since 2008 on a total of nine SEDA transactions mainly on the German market with a total value of over EUR130 million. In a pioneering role, the Firm is making this innovative financing tool available for companies acting within the German legal framework. This instrument has now again been successfully used for a listed Swiss company and has been further developed in the process.
"This financial product is an excellent complement to traditional forms of fundraising, such as classical capital increase and loans, because it provides funds as needed and protects the position of existing shareholders. Yorkville Advisors has gained a leading market position by using this instrument in the German market. We are pleased to have accompanied our client in the second successful transaction in the Swiss market. The teamwork of our joint German-Swiss team has been extremely efficient and effective," said Dr. Matthias Courvoisier.
Legal Advisor Yorkville:
Baker & McKenzie
Lead:
Dr. Matthias Courvoisier (Partner, Corporate / Capital Markets, Zurich)
Dr. Manuel Lorenz (Partner, Corporate / Capital Markets, Frankfurt)
Team:
Dr. Alexander Blaeser (Associate, Capital Markets, Zurich)
