Combination of Ascend Sport Technology and EvoNext

Ascend Sport Technology AG (Ascend), a Swiss sports technology holding company, and SIX-listed EvoNext Holdings AG (EvoNext) announced the signing of a transaction agreement to combine the two companies by way of a statutory merger. The parties have agreed on an equity value of Ascend of CHF 500 million and a valuation of EvoNext of CHF 2.50 per share. The planned transaction will lead to the formation of a listed Swiss sports technology company with a global footprint. In connection with the transaction, EvoNext will conduct a share placement, targeting an appropriate free-float, comprising predominantly secondary shares and a smaller primary issuance to support future growth. Closing is subject to the approval by extraordinary general meetings of Ascend and EvoNext as well as other customary closing conditions.

Lenz & Staehelin is advising Ascend and its shareholders in this transaction. The team is led by Tino Gaberthüel and Simone Ehrsam and includes Patrick Schärli, Lukas Aebi, Aron Liechti and Joël Wernli.