va-Q-tec announces acceptance rate for EQT Private Equity’s Takeover Offer after end of initial acceptance period

va-Q-tec announces acceptance rate for EQT Private Equity’s Takeover Offer after end of initial acceptance period

• EQT Private Equity’s Takeover Offer accepted at a rate of 73.89% after end of initial acceptance period
• Additional acceptance period for va-Q-tec shareholders from 22 February 2023 until 7 March 2023
• Completion of the Takeover Offer expected by no later than the second quarter of 2023

Würzburg, 21 February 2023 va-Q-tec AG (“va-Q-tec”), a pioneer of highly efficient products and solutions in the area of thermal insulation (so-called super thermal insulation) and temperature-controlled supply chains (so-called “TempChain” logistics), announces the acceptance rate during the initial acceptance period for the voluntary public Takeover Offer by Fahrenheit AcquiCo GmbH (“Bidder”), a company controlled by EQT Private Equity and supported by co-investors Mubadala Investment Company PJSC and the Sixth Cinven Fund. The acceptance rate amounts to 73.89% of all va-Q-tec shares currently issued, thereby above the minimum acceptance threshold of 62.5%.

va-Q-tec shareholders who have not yet accepted the Takeover Offer can tender their shares for EUR 26.00 per share during an additional acceptance period from 22 February 2023 to 7 March 2023, 24:00 hours (CET). va-Q-tec shareholders will therefore still have the opportunity to benefit from an attractive premium of 98% in relation to the volume-weighted average price of the va-Q-tec share over the past three months up until 9 December 2022.^[1] Subject to the necessary merger control clearances, the Takeover Offer is expected to be completed by no later than in the second quarter of 2023. Once the Takeover Offer has been completed, the Bidder intends, among other measures, to enter into a domination and profit and loss transfer agreement with va-Q-tec and to pursue a delisting of va-Q-tec.

Information about the additional acceptance period for the Offer

All relevant details regarding the acceptance of the Offer during the further Acceptance Period are set out in the offer document, which is available on the Bidder’s website at http://www.offer-eqt.com. va-Q-tec shareholders can also find a contact phone number on this website for help with any further queries. va-Q-tec shareholders should contact their depositary bank directly in order to tender their shares in the Takeover Offer. It is important to bear in mind the deadline of the respective bank, which may differ from the official acceptance deadline.

Important note

This press release does not constitute a statement or supplement to the statement of the Management Board or the Supervisory Board in relation to the Offer. The Bidder’s offer document is solely binding for the Offer itself.

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IR contact

 
If you have any further questions about the Takeover Offer, please do not hesitate to contact the hotline on +49 (0) 69 9517 9985.

About va-Q-tec  

va-Q-tec is a pioneer in highly efficient products and solutions in the area of thermal insulation and TempChain logistics. The company develops, produces and markets highly efficient and consequently thin vacuum insulation panels (VIPs), as well as phase change materials (PCMs) for reliable and energy-efficient temperature controlling. va-Q-tec deploys this key thermal technology in order to produce passive thermal packaging systems (containers and boxes) that maintain constant temperatures, depending on type, for up to 200 hours without external energy input. In order to implement temperature-sensitive logistics chains, va-Q-tec – within a global partner network – operates a fleet of rental containers and boxes meeting demanding thermal protection standards. Along with Healthcare & Logistics as the main market, va-Q-tec addresses the following further markets: Appliances & Food, Technics & Industry, Building, and Mobility. The high-growth company, which was founded in 2001, is based in Würzburg, Germany.

Further information: www.va-q-tec.com,
Follow va-Q-tec on Twitter: @vaQtec, LinkedIn: linkedin.com/company/va-Q-tec 

About EQT  

EQT is a global investment organization with more than EUR 114 billion in assets under management in two business areas – Private Capital and Real Assets. EQT funds have investments in companies in Europe, Asia and America. EQT supports portfolio companies on their path to achieving sustainable growth, operational excellence and market leadership.

Further information: www.eqtgroup.com
Follow EQT on LinkedIn, Twitter, YouTube and Instagram

Disclaimer
This release contains statements about the future development of va-Q-tec. These forward-looking statements are based on the Management Board’s current expectations, assumptions and forecasts, and the information currently available to the Management Board, and have been prepared to the best of its knowledge and belief. No guarantee or liability can be assumed for the occurrence of the future developments and results mentioned in relation to such forward-looking statements. Rather, future developments and results depend on various factors. These entail risks and uncertainties that are beyond va-Q-tec’s control and are based on assumptions that may prove to be incorrect. Notwithstanding legal requirements to adjust forecasts, va-Q-tec assumes no obligation to update the forward-looking statements contained in this release.

^[1] The date on which the ad hoc announcement concerning the expected near-term completion of the merger agreement was published.