White & Case advises SES-imagotag on conclusion of strategic partnership with Walmart
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Global law firm White & Case LLP has advised SES-imagotag, a world leader in smart digital labels and Internet of Things solutions for physical retail, on the conclusion of its strategic partnership with Walmart Inc. (Walmart).
The agreement with Walmart aims to deploy the latest-generation VUSION platform in several hundred Walmart stores in the US. It will span several years, with a first phase of 500 locations over the next 12 to 18 months.
SES-imagotag carried out an issue of warrants (Warrants) reserved to Walmart, enabling it to subscribe to new shares up to a limit of ten percent of the company's share capital. The Warrants may only be exercised by Walmart from the date on which the payments it makes to SES-imagotag related to their commercial agreement reach US$700 million. Once this threshold has been crossed, the Warrants will be exercisable proportionally until US$3 billion has been reached.
SES-imagotag's shares are admitted to negotiations on compartment A of the regulated market of Euronext Paris. SES-imagotag is also included in the SBF 120 index and in the Euronext Tech Leaders index.
The White & Case team in Paris which advised on the transaction was led by partners Thomas Le Vert and Max Turner and included associates Boris Kreiss and Sébastien Caciano.
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