- 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
FRANKFURT, Germany & BERLIN--(BUSINESS WIRE)-- The Management Board of Nanostart (OTCQX:NASRY) - holding MagForce AG (XETRA:MF6), 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.
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 Nanostart:
Nanostart AG (OTCQX: NASRY) headquartered in the German financial capital of Frankfurt, is a leading nanotechnology investment company, with portfolio companies spanning the globe from Silicon Valley to Singapore. The company provides venture capital financing for nanotechnology companies in various growth phases with a focus on innovation-driven industries of the future such as cleantech, life sciences and IT/electronics. Through its subsidiary Nanostart Asia and the venture capital fund in Singapore, Nanostart is proud to be the investment partner of the Singaporean government.
About MagForce:
MagForce AG (XETRA: MF6) 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 visit www.magforce.com.
Disclaimer:
This notice constitutes neither an offer to sell nor a solicitation of offers to purchase or subscribe to securities. There will be no public offering of securities of Nanostart AG in conjunction with the existing listing of its shares in the “Entry Standard” segment of the regulated unofficial market (Freiverkehr) on the Frankfurt Stock Exchange. This notice does not constitute a securities prospectus. Neither this notice nor the information contained within is intended for direct or indirect distribution within Canada, Australia or Japan.
CONTACT:
Nanostart AG
Dr. Hans Joachim Duerr
Head of Corporate Communications
phone: +49 (0)69-21 93 96 111
fax: +49 (0)69-21 93 96 150
e-mail: [email protected]
KEYWORDS: Europe Germany
INDUSTRY KEYWORDS: Technology Nanotechnology Health Biotechnology Oncology
MEDIA:
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