Participated · Equity · Aug 2021

ADS-TEC Energy GmbH announced a private placement to raise $156,000,000 through the sale of common shares. The company entered into subscription agreements for 15,600,000 common shares at $10.00 per share for gross proceeds of $156,000,000 on August 10, 2021. The transaction includes participation from existing investors ADS-TEC Holding GmbH and Bosch Thermotechnik GmbH as well as new investors Arthur P. Gould & Co., Investment Arm, Invesco Ltd., Polar Structure AB, Swedbank Robur AB, sponsors of European Sustainable Growth Acquisition Corp., and other investors. The board of directors has approved the transaction. The company expects the transaction to be consummated at least one business day prior to the merger in the fourth quarter of 2021, subject to satisfaction of the conditions in the definitive agreement and customary closing conditions. Shares will be issued pursuant to the exemption provided in Section 4(a)(2) of the Securities Act.