Deals & Cases

Homburger advised 21Shares on cash tender offer for exchange traded products

On October 11, 2022, 21Shares AG (21Shares), the world’s largest issuer of cryptocurrency exchange traded products, launched a first-of-its-kind public cash tender offer for all outstanding exchange traded products of the series 21Shares Terra Classic ETP issued by 21Shares under its Exchange Traded Products Programme.

The tender offer was available for two tender periods, the primary offer period ending on November 11, 2022 and the secondary tender offer period ending on December 2, 2022.

Homburger advised 21Shares AG on all aspects of the transaction. The Homburger team was led by Benjamin Leisinger and Vanessa Isler (both Capital Markets) and included Stefan Oesterhelt (Tax) as well as Philippe Gobet (Tax) and Sofiya Shavlak (Capital Markets).