The Schmid Group, a provider of equipment, software and services for high-end printed circuit boards, organic substrates, photovoltaics and energy storage, is to be listed on the New York Stock Exchange NYSE in the fourth quarter of 2023 following the merger with Pegasus Digital Mobility Acquisition Corp.
As part of the transaction, Schmid is valued at USD 640 million based on the positive growth prospects. Pegasus Digital Mobility Acquisition Corp. is a tax-exempt acquisition company that engages in mergers, share exchanges, reorganizations or combinations with one or more companies. Following the transaction, the combined company will be renamed Schmid Group N.V. and will remain headquartered in Freudenstadt, Germany.
The Schmid family will retain a majority stake in the company and its management positions. Christian Schmid and Anette Schmid, Pegasus board members Sir Ralf Speth and Dr. Stefan Berger as well as three independent members are expected to join the board of directors.
