Orrick Advises Lean Team on Vertis Investment in BagBnB

January.17.2020

Orrick assisted Lean Team in a private equity transaction involving the entry of Vertis Fund into innovative startup BagBnB through a private capital increase. Founded in 2016, BagBnB is a luggage storage network, with wide global coverage across 3000 locations in 300 cities.

The transaction also involves the signing of shareholders' agreements and related amendments to the articles of association, the creation of a stock option plan to be reserved for management and related regulations, and the defining of the relationships of the founding shareholders as directors and employees of the company. The total value of the transaction is approximately €2.5 million, with the possibility of opening the share capital to further investors through the approval of a new business plan.

The Orrick team was led by Riccardo Troiano and Andrea Piermartini Rosi and included Rosario Apuzzo.