SYGNIS states the huge interest and the resulting significant over-subscription in the capital increase
- Offering significantly over-subscribed
- Gross proceeds amounted to € 4.95 million.
- Company will use proceeds to develop and commercialize its proprietary product portfolio
Heidelberg, Germany, December 12, 2014 – SYGNIS AG (Frankfurt: LIO1; ISIN: DE000A1RFM03; Prime Standard) today announced that the Company has successfully completed its rights offering.
Subscription ratio in the rights offering was 13:3 which meant thirteen existing shares entitled the shareholder to subscribe for three new shares with the opportunity to oversubscribe. The subscription price was € 2.00 per share. New shares that were not subscribed in the course of the rights offering by existing shareholders were offered to selected German and international institutional investors in a private placement at a purchase price equivalent to the subscription price. The transaction was planned for a total volume of up to 2,475,678 new shares against cash. All of these shares were allocated.
By the successful transaction, the Company’s share capital increases from € 10,822,662.00 to € 13,298,340.00 by issuing 2,475,678 new shares. The offering utilizes existing authorized capital created by resolution at the Annual General Meeting on July 17, 2014. The new shares carry full dividend rights as of January 1, 2014.
“We are very happy about the successful completion of our rights offering and the private placement. We welcome our old and new shareholders and are very thankful for their trust in SYGNIS,” stated Pilar de la Huerta, CEO and CFO of SYGNIS AG. “The huge interest we saw in this transaction and the resulting significant over-subscription are demonstrating increasing investors‘ confidence in SYGNIS’ product and commercialization strategy and the growth markets we address. With its first proprietary product TruePrime™ Single Cell WGA kit expected to be launched in January 2015 and a first distribution agreement for this product already signed with German BioCat GmbH, SYGNIS is best positioned to benefit from the high growth rates in next generation sequencing for use in oncology research, gene-based personalized healthcare and molecular diagnostics. The transaction provides the Company with the financial flexibility needed to expand its proprietary portfolio of exciting new products and to meet the next milestones in our corporate and commercial development plan.“
SYGNIS plans to use the gross proceeds of € 4.95 million to finance its operating business, the development and commercialization of its proprietary product portfolio.
The capital increase was advised by GBC AG, Augsburg.
Press Release as PDF
For further information please contact:
Pilar de la Huerta, CEO/CFO