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Blue Elephant Energy Prepares For IPO

Blue Elephant Energy AG said that it is planning an initial public offering
on the regulated market (Prime Standard) of the Frankfurt Stock Exchange in third-quarter 2021.

The company plans to issue new shares from a capital increase and is targeting gross proceeds of about 150 million euros. The company will use the net proceeds to finance the acquisition of new solar parks and wind farms in accordance with the company's investment strategy and investment criteria.

None of the existing shareholders intends to sell shares in the offering - except for granting over-allotment shares comprising 15% of the new shares sold in the IPO (greenshoe option). All existing shareholders and the Company agreed to a lock-up period of 6 months, the company said.

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