We offer professional advice in the fields of financial strategy and capital markets issues.
We customize our advice in a very confidential way and it focused to company owners, founders
and management teams.
BLAETTCHEN FINANCIAL ADVISORY was founded in summer 2010. Prior our Team worked together at the advisory company Blaettchen & Partner AG for many years. Therefore we have an unique capital market advisory experience in IPOs, bond issues and implementation of management equity programs with more than 50 transactions and several billions EUR issue volume over three decades.
Our Company is completely owned by its active partners and is not a part of a financial institution. Hence, we are fully independent and not exposed to any conflicts of interest.
We appreciate the high level of trust our clients have in us.
We support clients (companies and manager) as independent advisor on all issues of equity offering or other equity-related transactions:
- Initial Public Offerings
- Private Equity Financing
- Warrants and convertibles
- Follow on Equity Offerings (new shares, existing shares, with and without subscription rights)
The intention to go public is in general a once in a lifetime highlight for the issuer, the companies´
owners and the founders and has to be prepared and supported carefully.
Our core competences are focused on the development of individual capital market strategies for different financing instruments. This process starts from the initial decision to go public, embraces all necessary steps to achieve the IPO readiness, leads to the selection of suitable project partners ("beauty contest") and includes the whole project management. We manage the upcoming conflicts of interest between company owners, financial sponsors, underwriters and the involved advisors.
We support our clients to structure and manage a "dual track transaction", that means a complex process in which the shareholders pursue an IPO and a trade sale option simultaneously. IPOs on international Exchanges such as NASDAQ, whether in the form of a direct listing or in the form of a "reverse" merger with a "SPAC" (Special Purpose Acquisition Company), are familiar to us.
We assist companies in the offering of non listed equity financing instruments such as mezzanine, Pre-IPO private equity finance, warrants and convertibles.
Furthermore we are the sounding board for the stock exchanges concerning design and implementation of new capital market services for issuers and investors.
We support our clients to design and implement a "management equity program" (MEP) in a typical LBO transaction.
The participants of this program have usually potential to invest a significant amount. Therefore a balanced
risk profile and fair conditions for the MEP are essential to reach the long term goals. The upcoming conflicts
of interest between the involved parties will be moderated and managed by us.
We also help to develop a "state of the art" equity participation and incentive program for employees and managers ("Employee Stock Option Plans" or ESOP) before or after an IPO. Particularly fast growing Tech companies have strong empathies to share the future value creation in an early stage of the company lifetime. Such designed incentive program must be open for the future "exit event" and may not hinder it. This applies in particular to the IPO. Hence, we support clients to restructure existing equity participations programs in a recapitalization situation.
We are proud to support the mayor German stock exchanges to design and to implement the innovative market places
for listed corporate bonds. We were nominated bondm-FOUNDATION-COACH at the Boerse Stuttgart and are DEUTSCHE
BOERSE CAPITAL MARKET PARTNER at the Frankfurt Stock Exchange.
In the first step we support you to find the fundamental decision to issue a capital market instrument as a corporate bond or alternative instruments (notes, private placements).
Our key point of analysis is the capital market capability of our clients, which will be necessary for a bond issue.
As independent advisor we assist our clients to issue a corporate bond. The issue concept can include an "issuer controlled offering" in consideration of several distribution channels. The alternative concept can be a "bank controlled" issue, where the mandated investment bank underwrites and sells the bond by means of a syndicate. We support the client to develop the suitable issue concept, select the professional partners (banks, selling agents) via a "beauty contest" and bring the issuer together with potential investors and intermediaries and negotiate the optimal conditions.
Furthermore we assist our clients to execute a "dual track process", in which both a bond issue and alternative refinancing options (credit facility, notes etc.) are simultaneously followed.
We are DEUTSCHE BOERSE CAPITAL MARKET PARTNER in following fields of activities and segments:
- IPO- and Corporate Finance Advice
- Scale for shares
- Scale for corporate bonds
- Prime Standard for corporate bonds
BLAETTCHEN FINANCIAL ADVISORY supported the Management Team of CUSTOMCELLS Holding GmbH in the preparation and execution of their financing round (Series A) in the amount of €60 million. The climate-tech venture capitalist World Fund and the Hamburg-based family office Abacon were capital lead investors in this financing round. The existing investor Vsquared Ventures and Porsche AG also participated in the Series A as existing investors. CUSTOMCELLS is one of the world's leading companies in the development of special lithium-ion battery cells. CUSTOMCELLS intends to invest the proceeds to expand its activities in the electrification of air traffic, intensify its research and development activities and accelerate its internationalization. (Link to the press release)
BLAETTCHEN FINANCIAL ADVISORY assisted BioNTech's Management Team in structuring a Share Repurchase Program of up to $1.5 billion over the next two years. The repurchased ADSs are to be used in whole or in part to satisfy upcoming settlement obligations under BioNTech's share-based compensation agreements.
BLÄTTCHEN FINANCIAL ADVISORY advises the Executive Committee of AC Immune S.A., a NASDAQ-listed Swiss biotechnology company (based in Lausanne), on its strategic acquisition of a clinically-validated active vaccine candidate for the treatment of Parkinson's disease from Affiris AG, a Austrian biotechnology company (based in Vienna). The transaction has a total volume of approximately USD 85 million, consisting of a contribution in kind of about USD 59 million (including a USD 5 million cash contribution) and a USD 25 million private placement cash capital increase (PIPE). The cash contribution of USD 5 million together with the PIPE will be provided by Affiris' major shareholders Athos Service GmbH (a Family Office of the Strüngmann brothers), MIG Fonds and First Capital Partner GmbH (a Family Office of Mr. Wolfgang Egger). (Link to the press release)
BLAETTCHEN FINANCIAL ADVISORY supports the Deutsche Aktieninstitut (DAI) in the preparation of their survey "Listing abroad of BioNTech, CureVac & Co. - Recommendations to policy makers for more IPOs in Germany" published on July 14, 2021 (PDF in German)
BLAETTCHEN FINANCIAL ADVISORY supported the management of BIONTECH SE in the structuring of an "At The Market" program in the amount of USD 500 million. An ATM program enables the Company to issue incremental shares close to the market. BioNTech is the first German company listed on the NASDAQ in the legal form of an SE to launch such a program.
JENNEWEIN Biotechnologie had announced its IPO in the beginning of 2020. In this context a number of investors indicated their interest in taking over the company. Therefore, the shareholders decided to enter into a structured M&A process in parallel to the the ongoing IPO preparations with the intention to divest (Dual Track). Finally, the shareholders agreed to sell to CHR. HANSEN on September 22nd, 2020 for € 310m.
BLÄTTCHEN FINANCIAL ADVISORY supported JENNEWEIN´s Management in preparing the IPO Track.
JENNEWEIN Biotechnologie is an industrial Biotechnology company. It has developed and patent-protected innovative processes for the industrial production of Human Milk Oligosaccharides (HMOs) and launched the HMOs in the infant formula and medical nutrition markets.
07 - 08/2020
BLAETTCHEN FINANCIAL ADVISORY supported the management of BIONTECH SE in its public offering of 5.5 million new American Depositary Shares ("ADSs") as well as further 0.83 million ADS as granted over-allotment option from a selling shareholder. These ADSs were placed in an Accelerated Bookbuilding process ("ABB Offering") at USD 93 per ADS in the period from 21 July 2020 to 22 July 2020. All ADSs could be placed with new and existing investors after the waiver of approximately 75% of subscription rights of BioNTech's key shareholders. The Company has received a gross proceeds of USD 511.5 million. The total "ABB Offering" volume amounts USD 588.2 million including the over-allotment option.
Following to the "ABB Offering" BioNTech's shareholders, who did not waive their subscription rights, were offered additional up to 1.9 million new ordinary shares resp. ADSs at USD 93 per ordinary share resp. ADS. The subscription ratio was 31:1 (31 ordinary share rights will entitle a holder of such rights to purchase one new ordinary share). This "Rights Offering" comprised an effective issue volume of up to USD 176 million. The subscription period started on July 28, 2020 and ended on August 14, 2020.
BLAETTCHEN FINANCIAL ADVISORY supported the management of IMMATICS Biotechnologies GmbH as financial advisor in the successful completion of the merger with ARYA Sciences Acquisition Corp., a NASDAQ-listed special purpose acquisition company (SPAC). After completion of the "Business Combination" the shares of the newly founded IMMATICS N.V. are listed on NASADQ since July 02, 2020. The transaction has an equity value of over 600 million USD. IMMATICS is a clinical biopharmaceutical company developing T-cell based cancer immunotherapies, with its operational headquarters in Tübingen.
BLAETTCHEN FINANCIAL ADVISORY supported the management of BIONTECH SE in structuring a four-year mandatory convertible note in the amount of USD 112 million, which was granted to Temasek, a Singapore-based investment company, as part of a private placement. In addition to the mandatory convertible, a further approximately USD 139 million of new shares were placed with Temasek and other accredited investors.
BLAETTCHEN FINANCIAL ADVISORY supported the management board of BIONTECH SE in an equity investment agreement with Shanghai Fosun Pharmaceutical (Group) Co., Ltd. Under the terms of the agreement, Fosun Pharma has agreed to make an equity investment of USD 50 million for 1,580,777 ordinary shares in BioNTech. This equity investment agreement is a part of a strategic development and commercialization collaboration to advance BioNTech's mRNA vaccine candidate BNT162 in China for the prevention of COVID-19 infections.
BLAETTCHEN FINANCIAL ADVISORY supported the management board of BIONTECH SE in its role as financial advisor to close the public takeover with NEON Therapeutics, Inc. (Nasdaq: NTGN). BioNTech will acquire Neon in an all-stock transaction valued at approximately USD 67 million. Neon is a biotechnology company developing novel neoantigen- based T cell therapies.
BLAETTCHEN FINANCIAL ADVISORY supported as financial advisor the initial public offering of the BIONTECH SE with a total issue volume (incl. underwriters over-allotment) of $173 m and a market capitalization of $3.4bn on the NASDAQ Global Select Market. The Company offered in total 11.5 Mio. American Depositary Shares ("ADSs"), with each ADS representing one ordinary share. BIONTECH belongs to the worldwide leading biotechnology companies in the development of individualized mRNA-based product candidates, innovative chimeric antigen receptor T cells, novel checkpoint immunomodulators, targeted cancer antibodies and small molecules.
Capital market access as a chance - strategic options for your company on the occasion of the 15th Mittelstandsforum Baden-Wuerttemberg in Stuttgart on the 19th July 2018 (program only available in German)
BLAETTCHEN FINANCIAL ADVISORY supported BIONTECH AG to design and to implement a capital market relatet Employee Participation Program and supported the management board in this context to prepare an Pre-IPO Financing Round (Series A) in a volume of 270 Mio USD.
WM WORKSHOP - IPOs Initial Public Offerings, 2017 November 09 in Munich (siehe Flyer)
RSW Vortragsreihe University Hohenheim, 2017 September 06. in Stuttgart (see Flyer)
BLÄTTCHENFINANCIAL ADVISORY supported CARL ZEISS MEDITEC AG to complete its capital increase without subscripiton rights (up to 10% of its share capital) in a total proceeds of approx. 317 m€ (see Flyer)
BLAETTCHEN FINANCIAL ADVISORY supported MOLOGEN AG to complete its convertible bond placement as part of a prospectus-exempt public rights offering in a total volume of about 5.0 m€
WP Board Academy "Rechte und Pflichten des Aufsichtsrats", 2016, November 29. in Frankfurt (see Flyer)
BLAETTCHEN FINANCIAL ADVISORY supported MOLOGEN AG to complete its capital increase with subscription rights and a follow-up convertible bond issue in a total volume of 16,1 m€
Finance Technology Transactions, July 21. in Munic (see Flyer)
Germany M&A and Private Equity Forum 2016, March 16. and 17. in Düsseldorf (see Flyer)
BLAETTCHEN FINANCIAL ADVISORY supported the IPO of the B.R.A.I.N. AG with a total issue volume (incl. over-allotments) of 32.5 m Euro in the Prime Standard of the Frankfurt Stock Exchange. B.R.A.I.N. AG is one of Euorpe's leading technology companies in the field of indsutrial or "white" biotechnology, the core discipline of the bioeconomy and is the first listed German issuer in this sector at the Frankfurt Stock Exchange
WM-WORKSHOP - IPOs und IBOs - November 2015 in Munich (see Flyer)
BLAETTCHEN FINANCIAL ADVISORY supported SeniVita Social Estate AG to issue a Going Public convertible note in a volume of up to 50 Mio. € listed in the Quotation Board (Open Market) of the Frankfurt Stock Exchange
WM-WORKSHOP - IPOs and IBOs - 12 November 2014 in Munich (see Flyer)
BLAETTCHEN FINANCIAL ADVISORY supported PNE WIND AG to complete its combined capital increase with subscription rights and a convertible bond issue in a total volume of 40,0 m€
BLAETTCHEN FIANCIAL ADVISORY has advised PAION AG – a listed (Prime Standard / FSE) biotech company – to complete its capital increase with subscription rights in a volume of 46,3 m€
BLAETTCHEN FINANCIAL ADVISORY supported SeniVita Sozial gGmbH to issue a participatory notes in a volume of up to 25 Mio. € listed in the Quotation Board (Open Market) of the Frankfurt Stock Exchange
Workshop "Immobilien- und Projektanleihen als Finanzierungsmöglichkeit" on 27 February 2014 in Berlin (see Flyer)
BLAETTCHEN FIANCIAL ADVISORY has advised PAION AG on its capital increase with subscription rights
M&A Forum Stuttgart "Unternehmensfinanzierung im Kontext von M&A-Transaktionen" on 21 November 2013 in Stuttgart (see Flyer)
Workshop "MBO und MBI - Vom Manager zum Unternehmer" on 06 November 2013 in Frankfurt/Main (see Flyer)
BLAETTCHEN FINANCIAL ADVISORY supported PNE WIND AG to issue a second tranche of its 8.0% corporate bond 2013/2018 (WKN: A1R074) in a volume of 33.7 Mio. € within a private placement. With the reached total bond volume of 100.0 m€ the bonds are to be included in the Prime Standard segment for company bonds on September 19, 2013.
Workshop "Immobilien- und Projektanleihen" on 30 September 2013 in Stuttgart (see Flyer
Workshop "Finanzierung über den Kapitalmarkt" on 24 September 2013 in Stuttgart (see Flyer)
BLAETTCHEN FINANCIAL ADVISORY GmbH supported Cloud No. 7 GmbH to issue a senior secured bond of up to € 35 Mio. at bondm of the boerse stuttgart
BLAETTCHEN FINANCIAL ADVISORY supported PNE WIND AG to issue a senior bond of up to € 100 Mio. in the regulated market of the DEUTSCHE BOERSE AG and the intended admission in the Prime Standard for Corporate Bonds
BLAETTCHEN FINANCIAL ADVISORY GmbH was appointed as DEUTSCHE BOERSE LISTING PARTNER
BLAETTCHEN FINANCIAL ADVISORY GmbH supported ALBERT REIFF GMBH & CO. KG to issue a senior bond of up to € 30 Mio. at bondm of the boerse stuttgart
BLAETTCHEN FINANCIAL ADVISORY supported RENA GmbH to issue a senior bond of up to € 75 Mio. at bondm of the boerse stuttgart
BLAETTCHEN FINANCIAL ADVISORY GmbH was appointed as BONDM-FOUNDING-COACH of boerse stuttgart
2021: A multi-faceted IPO year - German issuers use the full range of techniques for their IPOs - Alternatives will also be in favor in 2022, published in Special "Corporate Finance Law 2022" (German only)
Wer finanziert den digitalen Umbruch? - in FuS 03/23017 (in German)
20 Jahre Neuer Markt: Verdrängtes Trauma oder vernachlässigte Chancen? (in German) - VentureCapital Magazin 05/2017
Auf der Suche nach neuen Wegen - in Unternehmer-Edition, April 2017 (in German)
Neuer Markt: 20 Jahre danach - im Going Public Magazin 04/2017 (in German)
Teil II: Sind die Ratings der Mittelstandsanleihen aussagefähig? Kredit & Rating Praxis 5/2016
"Es muss möglich sein, Technologie-Startups zu Industrieunternehmen zu entwickeln" (in German) -Interview Dr. Holger Zinke in der Fus 05/2016
Teil I: Sind die Ratings der Mittelstandsanleihen aussagefähig? Kredit & Rating Praxis 4/2016
Der Börsengang der BRAIN AG - FUS I 03/2016
BRAIN-IPO bindet die Retail-Anleger ein - Qurtalsmagazin BRAIN AG 2. Q 2016
Die Produktpipiline muss lukrative Märkte mit Blockbuster-Potenzial adressieren - VentureCapital Magazin 04/2016
Corporate Bond Markt 2015 - in BondGuide-Special "Anleihen 2016" (in German)
Kapitalmarktfinanzierung und Familienunternehmen - in FuS 5/2015
Capital market review 2014 (in German)
"Die Wandelanleihe verbindet zwei Welten" in Going Public 12/2014
"Aktuelle Entwicklungen in der Kapitalmarktfinanzierung von Familienunternehmen" from Prof. Dr. Wolfgang Blättchen / Uwe Nespethal in Familienunternehmen und Stiftung (FuS) 04/2014
"Der deutsche IPO Markt kann sich aus seiner Lethargie befreien" in Börsen-Zeitung Special
Standards for Bondcommunication - DVFA 03/2014
Kapitalmarkt-Sentiment 2014 - Expertinterview in GoingPublic Magazin
from Uwe Nespethal / Prof. Dr. Wolfgang Blättchen in BondGuide Special "Anleihen 2014"
from Prof. Dr. Wolfgang Blättchen / Uwe Nespethal in Familienunternehmen und Stiftung 05/2013
from Prof. Dr. Wolfgang Blättchen / Uwe Nespethal in Going Public Special "Kapitalmarktrecht 2013"
from Prof. Dr. Wolfgang Blättchen / Dr. Stephan Mahn in Boardreport 01/2013
from Prof. Dr. Wolfgang Blättchen / Uwe Nespethal in Going Public Special "Anleihen 2013"
from Prof. Dr. Wolfgang Blättchen / Uwe Nespethal in Familienunternehmen und Stiftung (FuS) 04/2012
from Uwe Nespethal / Prof. Dr. Wolfgang Blättchen in Going Public Special "Anleihen 2012"
Interview with Prof. Dr. Wolfgang Blättchen and Alexander von Preysing in Going Public Special "Anleihen 2012"
from Prof. Dr. Wolfgang Blättchen / Uwe Nespethal in informer release 11-2011
from Prof. Dr. Wolfgang Blättchen / Uwe Nespethal in Familienunternehmen und Stiftungen (FuS) 03/2011
from Prof. Dr. Wolfgang Blättchen in BondGuide - Der Newsletter für Unternehmensanleihen Ausgabe 5, KW 28/29 2011
from Prof. Dr. Wolfgang Blättchen and Dr. Stephan Mahn in Börsen-Zeitung
from Prof. Dr. Wolfgang Blättchen in Corporate Finance & Private 28 Equity Guide 2011
from Prof. Dr. Wolfgang Blättchen / Uwe Nespethal published in Going Public Magazin Special "Anleihen 2011" März 2011
from Prof. Dr. Wolfgang Blättchen / Uwe Nespethal in Corporate Finance 8/10
from Prof. Dr. Wolfgang Blättchen in Deutschen Aktieninstitut Finanzplatz
Sentiment surveys under IPO-Experts in Venture Capital Magazin 11/10
from Prof. Dr. Wolfgang Blättchen in Börsen-Zeitung
from Prof. Dr. Wolfgang Blättchen in Going Public Magazin 07/10
from Prof. Dr. Wolfgang Blättchen / Uwe Nepethal in Going Public Magazin 6/10
Die BLÄTTCHEN FINANCIAL ADVISORY GMBH ist eine der führenden Beratungsgesellschaften im Bereich Corporate Finance und Capital Markets. Zum vielseitigen Projektspektrum gehören Börseneinführungen, Mitarbeiterbeteiligungsprogramme, VC-/PE-Finanzierungen sowie komplexe Kapitalmarkttransaktionen. Der Kreis unserer namhaften Klienten umfasst global aufgestellte Industrieunternehmen sowie stark wachsende Technologieunternehmen.
Zur Verstärkung unseres Teams suchen wir ab sofort eine/n überdurchschnittliche/n Studenten/in als
Sie befinden sich in einem wirtschaftswissenschaftlichen Studiengang und haben dabei erste Kenntnisse im Bereich Corporate Finance und Rechnungswesen/ Controlling erworben. Idealerweise stehen Sie vor dem Beginn eines Masterstudiengangs. Sie verfügen über gute Kenntnisse in der Anwendung der MS Office-Programme.
Ihre Kernaufgabe wird die selbstständige Pflege unserer umfangreichen Neuemissions-Datenbank sein. Ebenfalls werden Sie unterstützend in laufende Projekte mit eingebunden. Die Arbeitszeit beträgt für Sie als Werkstudent bei freier Zeiteinteilung etwa 8 Stunden pro Woche. Die Tätigkeit wird mit €12,--pro Stunde vergütet.
Aufgrund der sehr anspruchsvollen Tätigkeit erwarten wir, dass Sie mindestens 12 Monate als Werkstudent/in für uns tätig sind. Gerne unterstützen wir Sie bei der Erstellung Ihrer wissenschaftlichen Abschlussarbeiten (Bachelor bzw. Master Thesis).
Für weitere Informationen und Rückfragen stehen wir gerne zur Verfügung. Ihre Unterlagen senden Sie uns bitte postalisch an u.a. Adresse oder per Email an nespethal(at)blaettchen-fa.de.
Wir freuen uns auf Ihre Bewerbung!
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