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 (both M&A) and includes Patrick Schärli (Capital Markets), Lukas Aebi, Aron Liechti (both Tax) and Joël Wernli (M&A)