BERLIN, GERMANY--(Marketwire - February 01, 2012) -
MagForce AG / MagForce AG Announces Capital Increase from Authorized
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The issuer is solely responsible for the content of this announcement.
* Proceeds from the capital increase will be used for the
the NanoTherm® technology and further clinical development along
expansion of commercial and strategic partnerships
The Management Board of MagForce AG, a leading
medical technology company focusing on nanomedicine in oncology, and its
Supervisory Board yesterday approved an increase in the company's share
from EUR 4,127,041.00 up to EUR 4,952,449.00 through the partial
its existing authorized capital of up to EUR 825,408.00 newly registered
shares with no par value common with a nominal value of EUR 1.00 per share
against cash contributions.
The company will offer its shareholders the right to subscribe new shares
ratio of 5:1 (indirect subscription right). For five 'old' shares, one
share can be purchased. The subscription period begins for shareholders on
Friday, February 3, 2012 and will run for two weeks through February 16,
The subscription price is EUR 5.50. The rights offering for shareholders is
expected to be published on Thursday, February 2, 2012 in the electronic
If all shares are not subscribed, shareholders have the possibility to
additional shares to their subscription rights.
Unsubscribed shares will first be offered to current shareholders, and any
remaining shares will be offered in a private placement to institutional
investors. Major shareholders of MagForce AG have already expressed their
interest to exercise their subscription rights and to expand their share
The proceeds from the capital increase will be used for further
commercialization and the clinical development of the NanoTherm®
along with the expansion of commercial and strategic partnerships.
The transaction is being managed by Silvia Quandt & Cie. AG. Silvia Quandt
Cie. AG operates in Germany as a tied agent pursuant to section 2 paragraph
of the German Banking Act (KWG) in the name and on behalf of biw Bank
Investments und Wertpapiere AG with regard to services pursuant to section
paragraph 1a sentence 2 no. 1, 1c and 2 KWG.
ABOUT MAGFORCE AG:
MagForce AG is a leading medical technology company focusing on
oncology. The company's proprietary procedure, NanoTherm® therapy,
targeted treatment of solid tumors through the intratumoral generation of
via activation of magnetic nanoparticles. NanoTherm®, NanoPlan®,
NanoActivator™ 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
selected countries. For more information, please visitwww.magforce.com.
This release may contain forward-looking statements and information which
identified by formulations using terms such as "expects", "aims",
"intends", "plans", "believes", "seeks", "estimates" or "will". Such
forward-looking statements are based on our current expectations and
assumptions, which may be subject to a variety of risks and uncertainties.
results actually achieved by MagForce AG may substantially differ from
forward-looking statements. MagForce AG assumes no obligation to update
forward-looking statements or to correct them in case of developments,
differ from those, anticipated.
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