Skadden is advising Nokia Corporation in connection with a $1 billion equity investment by NVIDIA Corporation in new Nokia shares. Subject to certain customary closing conditions, NVIDIA will subscribe for the shares at a subscription price of $6.01 per share. Upon closing, the transaction will see NVIDIA become a 2.90% shareholder of Nokia.
Nokia will use the proceeds from the issuance to accelerate its strategic plans to advance trusted connectivity for AI and other general corporate purposes.
The Skadden team includes Denis Klimentchenko, Sarah Knapp, Joseph Rancour, Joseph Ciani-Dausch, Steven Sunshine and Frederic Depoortere.