DGAP-News: AKASOL AG sets offer price at EUR 48.50 per share

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN.
AKASOL AG sets offer price at EUR 48.50 per share

Darmstadt, June 27, 2018 - Today, the offer price for the initial public offering of AKASOL AG ("AKASOL"; the "Company" ISIN DE000A2JNWZ9), a leading German manufacturer of high-performance lithium-ion battery systems for buses, commercial vehicles, rail vehicles, industrial vehicles, marine and stationary applications, was set at EUR 48.50 per share.

In total, 2,433,041 shares in AKASOL have been placed with investors, constituting 2,061,856 newly issued shares from a capital increase and 371,185 existing shares from the holdings of the selling shareholders, including 221,185 shares to cover the over-allotment ("Greenshoe Option").

Assuming a full exercise of the Greenshoe Option, total gross proceeds will amount to approx. EUR 118 million of which approx. EUR 100 million are proceeds for AKASOL raised in the capital increase. The Company intends to use the envisaged net proceeds for the expansion of the Company's production facility in Langen, Germany, as well as for the expansion to the USA. In addition, the Company intends to use the proceeds for investments in additional test and validation facilities as well as research and development.

Sven Schulz, CEO of AKASOL, comments: "In meetings with investors, we received very positive feedback on our market position and our strategy. The opportunities arising for AKASOL as a supplier of high-performance battery systems for buses and commercial vehicles in the course of the increasing importance of electric mobility are very well recognized. We are proud that our IPO is multiple times oversubscribed, especially in view of the difficult stock market environment in recent days, and that we have attracted many long-term oriented investors. We are now proceeding immediately to execute our growth strategy with the proceeds raised in the IPO."

Assuming full exercise of the Greenshoe Option, the free float will amount to approx. 40.1%, with a total market capitalization of AKASOL AG of approx. EUR 294 million, and approx. 46.7% of the total shares will remain with Schulz Group GmbH as the largest shareholder. Trading in the shares on the regulated market (Prime Standard) of the Frankfurt Stock Exchange is expected to commence on June 29, 2018. The securities identification number (WKN) is A2JNWZ, the international securities identification number (ISIN) is DE000A2JNWZ9 and the trading symbol is ASL.

Retail orders, received by the syndicate banks were allocated approximately 5.7% of the total placement volume of, in aggregate, 2,433,041 shares (including over-allotments). As the offer was oversubscribed, the purchase orders from retail investors could not be fully allocated. All orders from retail investors will receive an allocation of approximately 50% of the respective order volume. The "Principles Governing the Allocation of Share Issues to Private Investors" were considered and the allocation to retail investors in connection with the offering followed the same criteria for all syndicate banks and their affiliated institutions.

Citigroup and COMMERZBANK acted as Joint Global Coordinators and together with Bankhaus Lampe as Joint Bookrunners. Lazard acted as financial adviser to AKASOL.

Contact

cometis AG, Georg Grießmann

Phone: +49 - (0)611 - 20 58 55 61 | Email: griessmann@cometis.de

About AKASOL:

AKASOL is a leading German manufacturer of high-performance lithium-ion battery systems for buses, commercial vehicles, rail vehicles, industrial vehicles, marine and stationary applications. Building on nearly 30 years of experience, AKASOL is a pioneer in developing, testing and manufacturing certified battery systems for the commercial transport sector.

Based in Germany, AKASOL operates a facility in Langen with an annual capacity of up to 300 MWh which is planned to be expanded to 600 MWh by 2020. To AKASOL's knowledge, this is Europe's largest production plant for commercial vehicle lithium-ion battery systems, currently capable of producing high-performance battery systems for up to 1,500 fully electric buses or up to 6,000 commercial vehicles per year, depending on battery size.

AKASOL's systems are manufactured to the industry standards demanded by leading OEM clients. Current clients include Daimler, a Swedish bus and truck manufacturer, Alstom, Bombardier, Rolls-Royce Power Systems (MTU Friedrichshafen) and Medatech. AKASOL boasts a technology-independent product portfolio. This allows the Company to choose the best battery cells and battery chemistry according to the clients' individual needs.

DISCLAIMER:

This announcement is not for publication or distribution, directly or indirectly, in or into the United States of America. This announcement is not an offer of securities for sale into the United States. The securities referred to herein have not been and will not be registered under the US Securities Act of 1933, as amended, and may not be offered or sold in the United States, except pursuant to an applicable exemption from registration. No public offering of securities is being made in the United States.

In the United Kingdom, this communication is directed only at persons who: (i) are qualified investors within the meaning of the Financial Services and Markets Act 2000 (as amended) and any relevant implementing measures and/or (ii) are outside the United Kingdom or (iii) have professional experience in matters relating to investments and fall within the definition of "investment professionals" contained in article 19 (5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the "Order") or are persons falling within article 49 (2)(a) to (d) (high net worth companies, unincorporated associations, etc.) of the Order, or fall within another exemption to the Order (all such persons referred to in (i) to (iii) above together being referred to as "Relevant Persons"). Any person who is not a Relevant Person must not act or rely on this communication or any of its contents. Any investment or investment activity to which this communication relates is available only to Relevant Persons and will be engaged in only with Relevant Persons.

This communication is an advertisement.

This communication constitutes neither an offer to sell nor a solicitation to buy securities. The public offering (in Germany and Luxembourg) will be made solely by means of, and on the basis of, a published securities prospectus. An investment decision regarding the publicly offered securities of AKASOL AG should only be made on the basis of the securities prospectus. The securities prospectus is available free of charge from AKASOL AG, Landwehrstraße 55, 64293 Darmstadt, Germany or on https://www.akasol.com/investor-relations.

Statements contained herein may constitute "forward-looking statements." Forward-looking statements are generally identifiable by the use of the words "may", "will", "should", "plan", "expect", "anticipate", "estimate," "believe", "intend", "project", "goal" or "target" or the negative of these words or other variations on these words or comparable terminology.

Forward-looking statements are based on current expectations and involve a number of known and unknown risks, uncertainties and other factors that could cause the Group's or its industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. You should not place undue reliance on forward-looking statements and the Group does not undertake publicly to update or revise any forward-looking statement that may be made herein, whether as a result of new information, future events or otherwise.