MagForce to implement capital increase of up to €33.5 million
MagForce AG /
MagForce to implement capital increase of up to €33.5 million
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* Capital increase against cash and noncash contributions including preemptive
rights
* Funds to go towards post-marketing study and loan repayment
* BaFin approves securities prospectus
Berlin, Germany, February 08, 2013 - MagForce AG (Frankfurt, XETRA: MF6), a
leading medical technology company in the field of nanomedicine in oncology,
intends to implement a capital increase against cash and noncash contributions
including preemptive rights in the total amount of around €33.5 million. To
achieve this, up to 18,606,553 new no-par value bearer shares will be issued.
The capitalization measure was resolved at the Company's extraordinary general
meeting on January 25, 2013.
Bankhaus Neelmeyer AG, Bremen, will offer the new shares to the Company's
shareholders for sub-scription at a ratio of 2:7. The subscription price for the
new shares will be €1.80 per share. The two-week shareholders' subscription
period will run from February 14 to February 28, 2013. Clearstream Banking AG,
Frankfurt am Main, will settle the rights for the new shares. The rights will
not be traded on the stock exchange.
Further details are provided in the securities prospectus, which the company
filed with the commercial register today. In line with legal requirements,
Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin - the German Financial
Supervisory Authority) examined and approved the prospectus. It is expected to
be published in the Bundesanzeiger (Federal Gazette) on February 14, 2013. The
prospectus is available on the Company's website at www.magforce.de under the
section entitled "Press and Investors" (German only).
In the short to medium term, MagForce will use part of these cash funds achieved
in the transaction to finance the post-marketing glioblastoma study as well as
business operations. In addition, the Company will repay loans in the amount of
€16.1 million to its primary creditors, insofar as this amount is not converted
to equity as part of a debt-to-equity swap.
About MagForce AG
MagForce AG is a leading medical technology company in the field of nanomedicine
in oncology. The Company's proprietary, NanoTherm® therapy, enables the targeted
treatment of solid tumors through the intratumoral generation of heat via
activation of magnetic nanoparticles. NanoTherm®, NanoPlan®, and
NanoActivator(TM) are components of the therapy and have received EU-wide
regulatory approval as medical devices for the treatment of brain tumors.
MagForce, NanoTherm®, NanoPlan®, and NanoActivator(TM) are trademarks of
MagForce AG in select countries. For more information, please visit
www.magforce.com.
Disclaimer
This release may contain forward-looking statements and information which may be
identified by formulations using terms such as "expects", "aims", "anticipates",
"intends", "plans", "believes", "seeks", "estimates" or "will". Such forward-
looking statements are based on our current expectations and certain
assumptions, which may be subject to a variety of risks and uncertainties. The
results actually achieved by MagForce AG may substantially differ from these
forward-looking statements. MagForce AG assumes no obligation to update these
forward-looking statements or to correct them in case of developments, which
differ from those, anticipated.
Contact:
Anne Hennecke
MC Services AG
T +49 89 210228-18
F +49 89 210228-88
M +49 151 12 555 759
Email: anne.hennecke@mc-services.eu
MagForce_Press Release_Feb 08, 2013:
http://hugin.info/143761/R/1676740/546608.pdf
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