DGAP-News: MagForce AG Annouces Successful Share Capital Increase from Authorized Capital
DGAP-News: MagForce AG / Key word(s): Capital Increase
MagForce AG Annouces Successful Share Capital Increase from Authorized Capital
28.06.2017 / 17:53
The issuer is solely responsible for the content of this announcement.
MagForce AG Annouces Successful Share Capital Increase from Authorized Capital
Berlin, Germany, and Nevada, USA, June 28, 2017 - MagForce AG (Frankfurt, Scale, XETRA: MF6, ISIN: DE000A0HGQF5), a leading medical device company in the field of nanomedicine focused on oncology, today successfully completed the capital increase from authrized capital resolved on June 28, 2017. The Company's share capital will therefore be increased from its current level of EUR 25,622,711.00 to EUR 26,343,172.00 by issuing 720,461 new no-par-value shares at a price of EUR 6,94 per share by partially utilising existing authorised capital against cash contributions. The transaction is accompanied by Hauck & Aufhäuser Privatbankiers.
All new shares were subscribed by UK-based M&G International Investments Ltd. in a private placement. Gross proceeds for MagForce AG amount to EUR 5.0 million.
The additional capital will be mainly used to accelerate the on-going international expansion of MagForce, in particular in Europe.
The current roll-out plan sees MagForce placing its NanoActivators in a number of European countries and thus enabling patients to be treated in their home countries. This will allow patients to be treated with MagForce's NanoTherm therapy as quickly and conveniently as possible following diagnosis.
Facilitating treatment of patients in their home countries will also simplify reimbursement in those countries where MagForce already has the CE mark approval for the treatment of brain tumours. Amongst others, MagForce's commercial and medical teams have identified Poland, Italy, Switzerland and Spain as suitable countries for NanoTherm treatment centres.
Based on the highly satisfying treatment results, management expects that the European roll-out, combined with reimbursement approval in the relevant countries, is expected to significantly speed up revenue generation and profitability of the European business.
About MagForce AG and MagForce USA, Inc.
MagForce AG, listed in the Scale segment of the Frankfurt Stock Exchange (MF6, ISIN: DE000A0HGQF5), together with its subsidiary MagForce USA, Inc. is a leading medical device company in the field of nanomedicine focused on oncology. The Group's proprietary NanoTherm(R) therapy enables the targeted treatment of solid tumors through the intratumoral generation of heat via activation of superparamagnetic nanoparticles.
NanoTherm(R), NanoPlan(R), and NanoActivator(R) 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 are trademarks of MagForce AG in selected countries.
For more information, please visit: www.magforce.com.
Get to know our Technology: video (You Tube)
Stay informed and subscribe to our mailing list.
DisclaimerThis 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:
Barbara von Frankenberg
Vice President
Communications & Investor Relations
T +49-30-308380-77
E-Mail: bfrankenberg@magforce.com
28.06.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
Language:
English
Company:
MagForce AG
Max-Planck-Straße 3
12489 Berlin
Germany
Phone:
+49 (0)30 308 380 0
Fax:
+49 (0)30 308 380 99
E-mail:
info@magforce.com
Internet:
www.magforce.com
ISIN:
DE000A0HGQF5
WKN:
A0HGQF
Listed:
Regulated Unofficial Market in Berlin, Dusseldorf, Stuttgart, Tradegate Exchange; Open Market (Scale) in Frankfurt
End of News
DGAP News Service
587223 28.06.2017