Orrick assisted Farmacosmo, an Italian e-commerce company active in the sale of health, pharma & beauty products, in the admission to trading of its ordinary shares and warrants on Euronext Growth Milan, a multilateral trading system organized and managed by Borsa Italiana S.p.A.
The transaction was carried out by an institutional placement reserved for professional Italian and foreign institutional investors (excluding the United States, Australia, Canada and Japan and any other jurisdiction in which an institutional placement is subject to restrictions), with a total demand amounting to approximately 2.5 times the amount offered in Farmacosmo’s capital increase. The placement price of the shares was set at €2.25 each, with an expected market capitalization of the company at the start of trading of approximately €75.3 million and an expected free float of 26.57% (30.55% assuming full exercise of the greenshoe option).
Orrick acted as transaction deal counsel with a team supervised by Patrizio Messina, coordinated by partner Paola Barometro for the corporate aspects and of counsel Nicolò Del Dottore for the financial markets legal aspects, and including managing associate Pietro Fazzini, associate Alessandro Azzolini and trainees Edoardo Pea and Andrea di Paola. Edward Dyson provided international capital markets advice.