Beowolff Capital Acquires Majority Stake in artnet

Beowolff Capital has secured 97.17% of artnet's share capital, marking a significant move in the art market. The additional acceptance period, ending on August 22, offers shareholders €11.25 per share, a 97% premium to the March 3 XETRA closing price. This high premium price reflects Beowolff's confidence in artnet's future growth.

The Boards of artnet recommend the offer, aligning with Beowolff’s commitment to artnet’s long-term growth. Delisting from the Frankfurt Stock Exchange is expected post-acceptance period, reducing stock liquidity significantly. Andrew Wolff, CEO of Beowolff Capital, highlights the support from shareholders as a positive affirmation of their shared vision for a more competitive artnet.

With legal and financial advisory from Kirkland & Ellis and ParkView Partners, Beowolff focuses on enhancing artnet's position using shared artificial intelligence tools, without entering domination agreements for two years.