5N Plus Inc. (TSX:VNP) entered into an agreement to acquire AZUR SPACE Solar Power GmbH from Renewable Investments Holding Sa for €53 million on March 30, 2021. As per the terms, the consideration includes 6.5 million shares of 5N Plus, subject to the TSX approval, to be issued from treasury at closing and cash payment. The sum of these two items will be approximately €53 million, subject to the volume-weighted average closing share price of 5N Plus prior to closing. 5N Plus expects to pay an aggregate purchase price representing an enterprise value between €73-79 million (inclusive of AZUR's debt), subject to closing and post-closing adjustments. 5N Plus has a growing and resilient business with a greater proportion of revenues driven by value-added products and promising end markets. The transaction is subject to the customary closing conditions, including regulatory approvals. 5N Plus currently intends to finance the cash portion of the Acquisition through funds drawn on its existing senior debt facility. 5N Plus expects to finance working capital in the range of €20 to 26 million with a provision not to exceed €27 million. 5N Plus will fully integrate AZUR's workforce and will appoint Jürgen Heizmann, Managing Director of AZUR, as a member of 5N Plus's Executive Committee. Dentons Canada LLP and Luther Rechtsanwaltsgesellschaft mbH acted as legal advisors to 5N Plus Inc. John Papagiannis, Scott Rozansky, Marc-André Bélanger, Joel Cabelli, Thomas Schubert and Maria Brakalova of Dentons advised 5N Plus, while Nick Benson, Hamburg and Jana Dammann of Latham & Watkins advised Renewable Investments Holding SA in the transaction. 5N Plus Inc. (TSX:VNP) today announced that it has received the necessary approval from relevant regulatory agencies to acquire all of the issued and outstanding shares of AZUR SPACE Solar Power GmbH. The Company expects the deal to close within the next few weeks.

5N Plus Inc. (TSX:VNP) completed the acquisition of AZUR SPACE Solar Power GmbH on November 5, 2021.