Berlin’s Mister Spex plans Frankfurt IPO

Berlin-based online spectacles retailer Mister Spex announced that it plans to float on the Frankfurt Stock Exchange in the third quarter of 2021.

“The IPO will likely include new shares from a capital increase and secondary shares from certain existing shareholders to be offered to private and institutional investors in Germany as well as institutional investors in certain other countries,” said Mister Spex.

“The envisaged gross proceeds from the sale of new shares in the amount of a minimum of €225 million are to be used primarily to accelerate the growth strategy and the international expansion of the omnichannel business model and also for repayment of a bridge loan facility.

“Existing shareholders are expected to provide shares to cover potential over-allotments in the amount of c.15% of the base offering.

“The company and certain existing shareholders are expected to agree to a lock up of 180 days, whereas members of the management board have agreed to a lock-up of 365 days.

“The IPO is targeted to be completed in the third quarter of 2021, subject to market conditions.”

Mister Spex SE founder and co-CEO Dirk Graber said: “The IPO is the next logical step for us to strengthen our position as the leading digitally native European omnichannel optical brand and to support our long-term growth strategy.

“We want to use the proceeds from the IPO not only for further growth internationally and in Germany, but also for investments in our strong technological base, which makes the industry-leading customer experience a reality with the help of innovative data analysis capabilities along with other tools.”

Mister Spex is owned by Graber and co-chief executive Mirko Caspar and investors that include Goldman Sachs, DN Capital, Scottish Equity Partners and XAnge.

Barclays, Berenberg and Jefferies are acting as Joint Global Coordinators and Joint Bookrunners.

Bryan Garnier and Commerzbank have been mandated as additional Joint Bookrunners and Quirin Privatbank as Co-Lead Manager.