German Tech Holding sets €0.07 share price for rights offering, secures full placement
What's the deal? German Tech Holding GmbH & Co. KGaA (GTH), the Frankfurt investment company formerly known as German Startups Group, has set the final subscription price for its public offering of treasury shares at €0.07 per share. The offer, aimed only at existing shareholders, runs until 27 October 2026. The placement is fully secured by a backstop from GG Beteiligungen UG (GGBDealroom has a profile for this one. Try Dealroom →).
How it works: Shareholders can subscribe at €0.07 — less than half of GTH's Xetra closing price on the day the price was set. Subscription rights are not exercised automatically; holders must submit a share purchase application proactively. Those who want more can apply for oversubscription, though acceptance is not guaranteed.
Why now? GTH says it set the final price because many shareholders are waiting until the subscription period ends to decide. Applications received so far predominantly specified full exercise without a price limit, up to €0.21 per share.
Who's backstopping it: GGB has committed to buy any shares not taken up by shareholders through rights or oversubscription, securing full placement and ruling out third-party buyers. How many shares GGB absorbs will be known only after 27 October. CEO and founder Christoph Gerlinger holds an indirect stake of just under 50% in GGB.
What's the endgame? GTH wants to fund an intended investment in Zirnostics GmbH, giving shareholders undiminished exposure to its life sciences and biotech prospects. Zirnostics is preparing a clinical trial for a tracer used in PSMA-PET/CT imaging for prostate cancer, which the company says offers up to 100-fold better tumour-to-background contrast than legacy tracers. GTH has signed a term sheet on the deal.
Founded in 2012, GTH built its reputation as a venture capital provider with past stakes in Chrono24, Delivery Hero, Mister Spex, and Scalable Capital. It still holds investments including AuctionTech, SoundCloud, and Thinksurance, and is now pursuing opportunities in artificial intelligence and life sciences.
The signal: The deeply discounted rights issue, paired with a founder-linked backstop, shows GTH leaning on existing shareholders and its CEO's own vehicle to finance a pivot toward biotech and AI bets.
Read more: live.deutsche-boerse.com
Image credit: Picturepest
