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MOLOGEN AG resolves capital increase through rights issue
DGAP-News: MOLOGEN AG / Key word(s): Capital Increase
MOLOGEN AG resolves capital increase through rights issue
24.03.2015 / 21:20
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NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR
INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA.
MOLOGEN AG resolves capital increase through rights issue
- Placement of up to 5,657,875 new shares
- Shareholders granted subscription rights with a 1:3 subscription ratio
- Issue proceeds to be used primarily for continuing the pivotal study
for the main product MGN1703
- Subscription price likely to be set on March 30, 2015
Berlin, March 24, 2015 - Today, with the agreement of the Supervisory
Board, the Executive Board of biotechnology company MOLOGEN AG resolved the
implementation of a capital increase against cash contributions. The
company's share capital is to be increased from EUR 16,973,626 to up to EUR
22,631,501 by issuing a total of up to 5,657,875 new shares.
Subject to the relevant securities prospectus being approved by the Federal
Financial Supervisory Authority (BaFin), the company's shareholders will be
offered the new shares by means of indirect subscription rights as part of
an public offering in Germany and Luxembourg during a two-week subscription
period. The subscription price will be set separately. The subscription
ratio is one for three. This means that shareholders will be granted a
subscription right to one new share for every three shares held in the
company. Based on shares held by shareholders at that moment, the specified
time for assignment of subscription rights is likely to be the evening of
April 2, 2015, this being the likely date of publication of the
subscription offer by the company. There are plans for an international
private placement of any remaining shares with qualified investors in
selected countries outside Germany and Luxembourg after the end of the
subscription period.
Proceeds flowing into the company from the capital increase are primarily
to be used to finance the further development of the main product
candidate, MGN1703, specifically in connection with the ongoing clinical
trials, IMPALA and IMPULSE. Patients are currently being recruited for both
trials. Recruitment of 540 patients for the pivotal study with MGN1703 in
the indication of colorectal cancer (IMPALA) is to be completed in 2016.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR
INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA.
MOLOGEN AG resolves capital increase through rights issue
- Placement of up to 5,657,875 new shares
- Shareholders granted subscription rights with a 1:3 subscription ratio
- Issue proceeds to be used primarily for continuing the pivotal study
for the main product MGN1703
- Subscription price likely to be set on March 30, 2015
Berlin, March 24, 2015 - Today, with the agreement of the Supervisory
Board, the Executive Board of biotechnology company MOLOGEN AG resolved the
implementation of a capital increase against cash contributions. The
company's share capital is to be increased from EUR 16,973,626 to up to EUR
22,631,501 by issuing a total of up to 5,657,875 new shares.
Subject to the relevant securities prospectus being approved by the Federal
Financial Supervisory Authority (BaFin), the company's shareholders will be
offered the new shares by means of indirect subscription rights as part of
an public offering in Germany and Luxembourg during a two-week subscription
period. The subscription price will be set separately. The subscription
ratio is one for three. This means that shareholders will be granted a
subscription right to one new share for every three shares held in the
company. Based on shares held by shareholders at that moment, the specified
time for assignment of subscription rights is likely to be the evening of
April 2, 2015, this being the likely date of publication of the
subscription offer by the company. There are plans for an international
private placement of any remaining shares with qualified investors in
selected countries outside Germany and Luxembourg after the end of the
subscription period.
Proceeds flowing into the company from the capital increase are primarily
to be used to finance the further development of the main product
candidate, MGN1703, specifically in connection with the ongoing clinical
trials, IMPALA and IMPULSE. Patients are currently being recruited for both
trials. Recruitment of 540 patients for the pivotal study with MGN1703 in
the indication of colorectal cancer (IMPALA) is to be completed in 2016.
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