DGAP-News: SYGNIS AG / Key word(s): Acquisition
08.05.2018 / 14:00
The issuer is solely responsible for the content of this announcement.
SYGNIS completes acquisition of TGR Biosciences
Heidelberg, Germany and Cambridge, UK, 08 May 2018 – SYGNIS AG (Frankfurt: LIO1; ISIN: DE000A1RFM03; Prime Standard) today announced the completion of the acquisition of TGR Biosciences (TGR), the Australian research reagents company. TGR and its highly complementary technologies and products along with its strong customer base will significantly contribute to the overall performance of the SYGNIS Group. SYGNIS is currently assessing the impact the acquisition will have on its previous 2018 full year financial guidance and will announce this as soon as this review is complete.
Dr. Heikki Lanckriet, CEO and CSO of SYGNIS, said: “The acquisition of TGR Biosciences with its complementary business portfolio is a perfect fit for SYGNIS and an important step in our ‘Grow, Buy and Build strategy’ – we are very excited about our joint future. Both, TGR Biosciences and the SYGNIS Group will benefit from increasing sales and cross selling synergies, which will further strengthen our market position and provide further opportunities for growth.”
The acquisition, priced in Australian Dollars at approximately EUR 10.1 million (net of cash acquired with the business) comprising cash, loan notes and a share based earn out, brings TGR into the SYGNIS Group. The acquisition was financed by the recent capital increase, where SYGNIS raised gross proceeds of EUR 4.2 million in a private placement with institutional investors. Additionally, SYGNIS obtained a debt finance in the amount of EUR 2 million to complete the acquisition. SYGNIS has the right to exchange the debt finance into a mandatory convertible bond with additional option rights for approximately 1.4 million shares. The volume of the convertible bond and the conversion price will depend upon market conditions at the time SYGNIS utilizes such right if SYGNIS decides so which is likely.
TGR offers a strong complementary product portfolio including patented best-in-class protein capturing technology, fitting with SYGNIS’ range of products and services to support the immunology, genomic and proteomic markets. TGR’s technology and R&D facilities will be fully integrated into the SYGNIS group, and trade under the Expedeon brand in the near future.
For further information, please contact:
MC Services AG (Investor Relations and International Media Relations)
About SYGNIS AG: www.sygnis.com
### This publication is intended for information only and constitutes neither an offer to sell nor an invitation to buy securities. Some statements included in this press release, relating neither to proven financial results nor other historical data, should be viewed as forward-looking, i.e. not definite. Such statements are mainly predictions of future results, trends, plans or goals. These statements should not be considered to be total guarantees since given their very nature they are subject to known and unknown risks and imponderability and can be affected by other factors as a consequence of which the actual results, plans and goals of SYGNIS AG may deviate greatly from the established conclusions or implied predictions contained in such statements. SYGNIS does not undertake to publicly update or revise these statements in the light of new information or future results or for any other reason. ###
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