Northern Data AG Completes 20% Capital Increase

Northern Data AG has successfully completed a 20% capital increase. This operation was resolved on July 15, 2024, and has been fully implemented. Subsequently, the company's share capital now stands at EUR 64,196,677, divided into an equal number of shares.

CEO Aroosh Thillainathan's shareholding increased to 5,133,188 shares, representing roughly 8.0% of the total. The capital raise generated gross proceeds of approximately EUR 214 million.

The funds will bolster Northern Data's cloud platform and expand its data centers in Europe and the USA. The increase occurred in tranches, with majority shareholder Tether Investments Ltd. and Thillainathan’s investment entity subscribing to a significant portion of the new shares, alongside other major shareholders.