SYGNIS AG successfully completes Rights Offering and Private Placement
NOT FOR DISTRIBUTION, PUBLICATION, OR TRANSMISSION IN USA, CANADA, JAPAN AND AUSTRALIA
- Rights offering and private placement raise EUR 5.6 million
- Gross proceeds secure funds for working capital needs
- Major shareholder Genetrix S.L., Spain, contributes EUR 0.6 million in kind by swapping its shareholder loan into equity
Madrid, Spain and Heidelberg, Germany, December 10, 2015 – SYGNIS AG (Frankfurt: LIO1; ISIN: DE000A1RFM03; Prime Standard) today announced that the Company has successfully completed its rights offering and the subsequent private placement. A total number of 2,962,552 shares were placed at a subscription price of EUR 1.90 per share.
In a cash capital increase 2,962,552 offered shares were placed with existing shareholders in a rights issue and with selected new institutional investors in a subsequent rump placement, which resulted in gross proceeds of more than EUR 5.6 million.
Furthermore, a total of 315,789 consideration shares will be issued at the same issue price of EUR 1.90 by way of a capital increase against contributions in kind in order to swap the shareholder loan from the main shareholder Genetrix S.L., Spain, of approximately EUR 0.6 million into equity. Thus, the capital increase amounted to EUR 6.2 Mio. in total.
By completion of this transaction, including the contribution in kind, the Company’s share capital will increase from EUR 13,494,934.00 composed of 13,494,934 no-par value bearer shares, to EUR 16,773,275.00 composed of 16,773,275 shares, by issuing 3,278,341 new shares while partially utilising authorized capital. The new shares carry full dividend rights as of January 1, 2015.
SYGNIS plans to use the gross proceeds of EUR 5.6 million to finance the expansion of its commercialization activities and customer base worldwide, especially to the US, to further progress its product portfolio and also includes the repayment of soft loans.
“I would like to thank our existing shareholders for their continued trust in SYGNIS and particularly to welcome our new investors. The successful completion of our rights offering and the private placement is an important acknowledgement of our operational progress as an integrated product company and shows strong support for our accelerated commercialization strategy. With this funding we are now able to accelerate sales in Europe, further advance our next generation products and target high growth markets, especially the US. We have begun already to build our US presence and will continue at full speed”, said Pilar de la Huerta, CEO and CFO of SYGNIS. “The recently announced distribution agreements with Mayflower and Lucigen for the US market are already paving the ground for reaching our next milestones and for significantly boosting the awareness for our products worldwide.”
For further information please contact:
Pilar de la Huerta
Phone: +34 91 192 36 50
MC Services AG
Phone: +49 89 210228 30