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* Transformation into truly international commercial enterprise
* Flexible access to up to EUR 20 million equity capital over the next 36 months
* Purchase price of newly issued shares determined by market price of MagForce's stock
MagForce Nanotechnologies AG has signed a Standby Equity Distribution Agreement ("SEDA") with YA Global Master SPV Ltd. ("YA Global"), an investment fund managed by Yorkville Advisors. Under this agreement, MagForce now has the option over the next 36 months to avail itself of a binding commitment by YA Global to subscribe to and purchase multiple tranches of newly issued shares from the company's approved capital up to a total amount of EUR 20 million. MagForce will retain complete discretion over if and when it makes use of its rights over the life of the option.
Under the terms of the agreement, MagForce may offer these tranches from time-to-time, pursuant to the terms of the agreement. The purchase price of newly issued shares shall be determined by a formula based on the market price of MagForce's stock. The commitment provides MagForce with flexible access to additional equity capital of up to EUR 20 million, thus ensuring that the company retains a sound basis of financial comfort as it enters the rapidly approaching commercialization phase and further expands its R&D pipeline.
"The signing of this agreement with YA Global will better enable MagForce to proceed with two very important investments," explained Dr. Peter Heinrich, CEO of MagForce Nanotechnologies AG. "Firstly, it will provide us with additional resources for the European market launch of Nano-Cancer® therapy for the first indication expected to receive European regulatory approval, which is glioblastoma multiforme. Secondly, it will allow us to expand our clinical investigations to encompass even more kinds of solid tumors. With this additional capital now available, we will be able to accelerate our transformation from an essentially German R&D venture financed with German capital into a truly international commercial enterprise."
"We are extremely pleased to be able to announce our investment in MagForce" said Dr. Michael J. Nowak, head of healthcare and managing director at Yorkville Advisors. MagForce is currently moving forward with the planned market launch of its first product in what is perhaps the most interesting phase of company development. Dr. Nowak added, "The innovative structure of our investment commitment, with its combination of both flexibility and financial security, is an ideal arrangement for the company at this stage."
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 the United States of America, Canada, Australia or Japan.
About Nanostart AG
Nanostart AG is the world’s leading nanotechnology investment company. The Frankfurt-based company provides venture capital financing for nanotechnology companies in various growth phases. It also provides the benefits of its experience and expertise to developers of financial instruments and to investors in the nanotechnology sector. For further information about the company, please visit www.nanostart.de.
About MagForce Nanotechnologies AG
MagForce Nanotechnologies AG is the world’s leading company in the area of nanotechnology-based cancer treatment. Its patented therapy allows the targeted destruction of tumors using magnetic nanoparticles. MagForce’s nanotechnology represents a revolutionary approach to the future successful treatment of solid tumors. For more information, please visit www.magforce.com.
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Dr. Hans Joachim Dürr
D-60313 Frankfurt, Germany
phone: +49 (0)69-21 93 96 111
fax: +49 (0)69-21 93 96 122
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