Osborne Clarke advises Lemonaid Beverages on conversion into a stock corporation and new prospectus approval procedure

Osborne Clarke has advised Lemonaid Beverages on its conversion by way of change of legal form from a limited liability company (GmbH) into a stock corporation (Aktiengesellschaft, AG) as well as on the prospectus approval procedure for a public offering of shares.

The Hamburg-based beverage company Lemonaid Beverages, with its brands Lemonaid and ChariTea, stands for organic soft drinks and iced teas made from fairly traded ingredients and has a strong presence in retail and gastronomy. By converting into a stock corporation and launching a public offering of shares, Lemonaid Beverages is enabling a broad investor base to participate in the company for the first time.

Osborne Clarke advised and supported Lemonaid Beverages in the preparation of an EU growth issuance prospectus as well as in the successful implementation of the prospectus approval procedure. The EU growth issuance prospectus is a new prospectus regime introduced by the EU Listing Act and applicable since March 2026, replacing the former EU growth prospectus. It is intended to facilitate public offerings of securities by small and medium-sized enterprises as well as small non-listed companies, enabling them to conduct public offerings under less stringent regulatory requirements compared to a standard full prospectus – including, among other things, a limitation of the prospectus to a maximum of 75 DIN A4 pages for equity offerings.

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Osborne Clarke provided Lemonaid Beverages with comprehensive legal support for the project from a single source – from the corporate restructuring through to the completed prospectus approval procedure. In the context of the conversion under stock corporation law, the advice focused in particular on structuring and implementing the change of legal form from a GmbH into a stock corporation, including the necessary accompanying corporate measures. In preparing the EU growth issuance prospectus, Osborne Clarke assisted Lemonaid Beverages from the substantive drafting of the prospectus documentation through to the implementation of the approval procedure for the public offering of shares.

The Osborne Clarke team that advised Lemonaid comprised, for the prospectus approval procedure, Dr Robert Oppenheim and Niklas Rönker, and for the conversion under stock corporation law, Dr Alexander Thomas and Dr Fabian von Rabenau.