Bertrand Dumon and Mathias Audit advised Crocus

Bertrand Dumon and Mathias Audit advised Crocus Technology during the creation
of the Russian joint-venture 'Crocus Nanoelectronics'
Paris, May 23rd 2011 - During the third round of pool financing, Crocus Technology received 55
million USD from Rusnano and its original venture capitalists in order to allow it to finance a
factory in Russia via a joint-venture. MBL Avocats (Bertrand Dumon and Mathias Audit) were
Crocus Technology's advisers.
Crocus Technology is heading east. The American-Grenoble electronics company called
upon the public company that is responsible for stimulating the emergence of nano-industries
in Russia, Rusnano, to provide almost a third, 55 million USD (38.5 million EUR), of its third round
of pool finance. The rest was provided by five of its existing shareholders who still retain a
large majority of the capital. But that is not all: the microprocessor expert has also obtained
ex-prime minister, Anatoly Chubais’s support to finance the construction of a factory in Russia
via the Russian joint venture company, Crocus Nanoelectronics (JV), in which Rusnano will
have a minority stake. During its first year, the JV will receive 125 million USD (87.6 million EUR)
to lease equipment with two thirds being provided as equity and the remainder as debt.
This will allow Crocus Technology to start mass production of its MRAM magnetic memory
chips. Currently, this spin-off from Spintec, a CEA/CNRS research laboratory, has yet to make
its first sales. It employs 30 people based at Grenoble and in California and works in an
embryonic market led by Everspin, which has roots in Freescale. However, Everspin is in the
130 nanometre format whilst the Crocus Nanoelectronics factory will start production with 90
and 65 nm lithographs thanks to its thermal barrier patents. It plans to raise an additional 120
million USD (84 million EUR) of capital to allow it to reduce the format to 45 nm. This will allow it
to take the lead, with new CEO, Bertrand Cambou, at the reins, ahead of all the giants who
are interested in what could become the future standard for electronic memory.
List of participants:
Rusnano: Dmitriy Lisenkov, Kirill Kuzmichev - Sofinnova Ventures: Eric Buatois - Ventech: Jean
Bourcereau - Idinvest Partners: Luc Maruenda - CDC Entreprises Innovation: Michel Desbard NanoDimension: Aymeric Sallin
Legal advisers : Investors: Salans (Andras Haragovitch, Andrei Strijak); Crocus Technology:
Cooley (Julie Wicklund, Robin Bennett), CMS (John Hammond, Anastasia Makarova), MBL
Avocats (Bertrand Dumon, Mathias Audit), Pinot de Villechenon & Associés (Morgan HunaultBerret, Paul-Albert Legrand).
MBL Avocats (http://www.mbl-avocats.com):
MBL Avocats is a law firm with offices in France and the UAE.
Lawyers at MBL Avocats regularly provide their clients (private or public companies,
entrepreneurs and investors) with advice on raising capital, pool financing, Owner Buy Outs
(OBO), Management Buy Outs (MBO), Leveraged Buy Outs (LBO), venture capital, mergers
and acquisition (M & A), obtaining minority or majority stakes in quoted companies and
during Initial Public Offerings (IPO).
MBL Avocats is a leading law firm in the internet, hi-tech, energy, green-tech, biotech and
property fields.
Contact:
Bertrand Dumon – Corporate associate lawyer
MBL Avocats - 20, rue Fortuny - 75017 PARIS - France
Telephone: + 33 (0)1 45 05 15 65
Fax: + 33 (0)1 45 05 45 66