MagForce AG announces successful capital increase of the subsidiary MagForce USA, Inc.

MagForce AG / Key word(s): Financing

MagForce AG announces successful capital increase of the subsidiary MagForce USA, Inc.

08-Aug-2018 / 08:20 CET/CEST

Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP – a service of EQS Group AG.

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


MagForce AG announces successful capital increase of the subsidiary MagForce USA, Inc.

Berlin, Germany and Nevada, USA, August 8, 2018 – MagForce AG (Frankfurt, Scale, XETRA: MF6, ISIN: DE000A0HGQF5), a leading medical device company in the field of nanomedicine focused on oncology, announces the successful completion of a capital increase of its subsidiary MagForce USA, Inc. The capital increase was carried out by exercising 700,000 subscription rights of MagForce USA, Inc. and by issuing 166,666 new shares in MagForce USA, Inc. The subscription rights were issued in 2014 to US investors as part of a growth financing round and had a term limit of four years. There are no outstanding subscription rights remaining after the exercise. The issuance of a total of 866,666 new shares will generate gross proceeds of approximately USD 9.0 million for MagForce USA, Inc. The new  MagForce USA, Inc. shares were subscribed by a new US investor.

Following the issue of the new shares, MagForce AG holds 67.9 percent of the shares in MagForce USA, Inc. and will continue to retain a majority ownership position in the US subsidiary.

The proceeds from the capital increase will be used to finance the initiated pivotal clinical trial in the USA with NanoTherm Therapy for focal tumor ablation in intermediate risk prostate cancer and associated business operations.

Contact:
Barbara von Frankenberg
Vice President
Communications & Investor Relations

T +49-30-308380-77
E-Mail: bfrankenberg@magforce.com


08-Aug-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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Language: English
Company: MagForce AG
Max-Planck-Straße 3
12489 Berlin
Germany
Phone: +49 (0)30 308 380 0
Fax: +49 (0)30 308 380 99
E-mail: info@magforce.com
Internet: www.magforce.com
ISIN: DE000A0HGQF5
WKN: A0HGQF
Indices: Scale 30
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Stuttgart, Tradegate Exchange

 
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