PRESS RELEASE

Munich, 30 June 2021

honert provided legal and tax advice to the management of the Cherry Group around CEO Rolf Unterberger and CFO Bernd Wagner in the context of the Cherry Group’s IPO.

Cherry AG, a global leader in the manufacture of premium mechanical gaming switches and peripherals for gaming, office and industry as well as healthcare and security applications, made its debut on the Frankfurt stock market (Prime Standard).

At the final offer price of EUR 32 per share, the total volume of the IPO was significantly oversubscribed. The total number of shares and the final offer price corresponds to a market capitalization of approx. EUR 778 million. The total volume of primary and secondary shares placed in the IPO amounts to approx. EUR 416 million.

Prior to the IPO, the principal (indirect) shareholders of Cherry AG were private funds managed by Argand Partners, a New York and San Francisco Bay Area, USA, based private equity firm.
honert already provided comprehensive legal and tax advice to the Cherry management on the acquisition of the majority shareholding by Argand in 2020

Consultants Cherry management:

honert (Munich): Dr. Jochen Neumayer (corporate law, M&A, tax law); Prof. Dr. Thomas Grädler (corporate law, M&A, tax law)

Consultants Cherry AG / Argand:
Hengeler Mueller: Alexander Rang (Capital Markets, Frankfurt), Peter Weyland, Annika Clauss, Lucina Berger (all Frankfurt), Georg Seyfarth (Düsseldorf) (all Corporate), counsel Cecilia Di Cio (Capital Markets, Frankfurt), Patrick Wilkening (IP/IT, Düsseldorf) et al.