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MagForce Nanotechnologies Announces Capital Increase from Authorized Capital


2/1/2012 8:42:09 AM

BERLIN, GERMANY--(Marketwire - February 01, 2012) -


MagForce AG / MagForce AG Announces Capital Increase from Authorized Capital

. Processed and transmitted by Thomson Reuters ONE.

The issuer is solely responsible for the content of this announcement.

* Proceeds from the capital increase will be used for the commercialization of the NanoTherm® technology and further clinical development along with the 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 capital from EUR 4,127,041.00 up to EUR 4,952,449.00 through the partial utilization of its existing authorized capital of up to EUR 825,408.00 newly registered common 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 at a ratio of 5:1 (indirect subscription right). For five 'old' shares, one 'new' share can be purchased. The subscription period begins for shareholders on Friday, February 3, 2012 and will run for two weeks through February 16, 2012. 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 Federal Gazette.

If all shares are not subscribed, shareholders have the possibility to purchase 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 positions.

The proceeds from the capital increase will be used for further commercialization and the clinical development of the NanoTherm® technology 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 10 of the German Banking Act (KWG) in the name and on behalf of biw Bank für Investments und Wertpapiere AG with regard to services pursuant to section 1 paragraph 1a sentence 2 no. 1, 1c and 2 KWG.

ABOUT MAGFORCE AG:

MagForce AG is a leading medical technology company focusing on nanomedicine in oncology. The company's proprietary procedure, NanoTherm® therapy, enables the targeted treatment of solid tumors through the intratumoral generation of heat via activation of magnetic nanoparticles. NanoTherm®, NanoPlan®, and 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 AG in selected countries. For more information, please visitwww.magforce.com.

DISCLAIMER:

This 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.

This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that:

(i) the releases contained herein are protected by copyright and other applicable laws; and

(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.


[HUG#1581448]


Contact:
Stacy Wiedenmann
Director Investor Relations & Corporate Communications
Magforce AG
Max-Dohrn-Str. 8
10589 Berlin
T +49 30 308 380 31
F +49 30 308 380 99
M +49 151 12000 722
email: Email Contact


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