RC Law Advises Co-Lead Investors in Equity Investment in Procaps Group

RC Law acted as US counsel to Chemo Project (Insud Pharma) and Becaril (Laboratorio Elea), as anchor investors, in the private placement of an aggregate amount of $130 million in SEC registered Procaps Group, S.A., a leading Latin America integrated pharmaceutical and healthcare company, headquartered in Luxembourg. The transaction also involved the restructuring of the company’s debt with its key financial lenders.

The private capital raise included a $90 million private placement of ordinary shares and the conversion of $40 million in secured convertible notes into ordinary shares of Procaps.  The issuance was subscribed by Chemo Project S.A., Becaril S.A., Flying Fish Ventures L.P., Saint Thomas Commercial S.A., Santana S.A., Hoche Partners Pharma Holding S.A. and other investors. As a result of the transaction, such investors hold approximately 90% of the Company’s equity.

RC Law team was led by Xavier Ruiz (Partner), Diego Price (Senior Associate) and Florencia Fernandez (Associate).  Heidi Steele (Partner) of McDermott Will & Emery acted as securities counsel while BSP acted as Luxembourg corporate counsel. Greenberg Traurig acted as counsel to the issuer.

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