CMS advises ADS-TEC Energy on IPO via merger with European Sustainable Growth Acquisition Corp.

Stuttgart – ADS-TEC Energy GmbH has announced jointly with European Sustainable Growth Acquisition Corp. (EUSG), a NASDAQ-listed special purpose acquisition vehicle, that they have concluded a binding Business Combination Agreement on a corporate merger. ADS-TEC Energy is a world-leading provider of battery buffered ultrafast charging technology and a subsidiary of ads-tec Holding GmbH and Bosch Thermotechnik GmbH. Once the transaction has completed, the combined entity will be listed on NASDAQ as ADS-TEC Energy.

The transaction is expected to complete in the fourth quarter of 2021. Execution of the proposed transaction is dependent on a number of factors, including approval by EUSG shareholders, fulfilment of the conditions laid down in the Business Combination Agreement and the customary closing conditions.

A CMS team headed by Dr Björn Demuth, Dr Antje Becker-Boley and Dr Jacob Siebert advised ADS-TEC Energy GmbH on all legal aspects of the IPO. A team from Alston & Bird LLP supported the CMS team on US legal issues raised by the transaction.

CMS Germany

Dr Björn Demuth, Overall Lead, Partner, Stuttgart, Tax
Dr Antje Becker-Boley, Lead Partner Corporate/M&A, Stuttgart
Dr Jacob Siebert, Lead Partner Corporate/M&A, Hamburg
Birgit Schlemmer, Senior Associate, Stuttgart
Isabell Peglow, Senior Associate, Stuttgart, all Corporate/M&A
Dr Antje-Kathrin Uhl, Partner, Stuttgart, Labor, Employment & Pensions
Alexander Leister, Counsel, Stuttgart, Intellectual Property
Dr Rolf Hempel, Partner, Stuttgart, Competition
Dr Martin Mohr, Counsel, Stuttgart, Tax
Dr Michael Schellenberger, Principal Counsel, Stuttgart, Private Clients

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