We advised Baltic Horizon Fund in arranging private placements of fund units raising a total of EUR 16.5 million. Private placements were arranged in relation to the latest property acquisition of the fund – North Star Business Centre in Vilnius, Lithuania. As part of the transaction the seller of North Star Business Centre, UAB Prosperus Strategic RE Fund, agreed to subscribe fund units in the amount of EUR 5 million.
We assisted Baltic Horizon Fund throughout the project, including drafting subscription documentation and providing disclosure advice as well as arranging the issuance, settlement and listing of the new units and related communication with all stake-holders. The offering and issuance of the units was carried out by using the 20% exemption of the Prospectus Regulation ((EL) 2017/1129 art 1(5) a)), and thus, no listing prospectus was required. The new units were admitted to trading on both Nasdaq Tallinn and Nasdaq Stockholm.