Nanotechnology Now







Heifer International

Wikipedia Affiliate Button


DHgate

Home > Press > Nanostart-holding MagForce: Shareholders’ Meeting resolves to increase capital by up to €33.5 million

Abstract:

- Capital increase against cash and noncash contributions by granting preemptive rights of up to a total of €33.5 million approved at Shareholders' Meeting

- Debt reduction and debt-to-equity swap planned

Nanostart-holding MagForce: Shareholders’ Meeting resolves to increase capital by up to €33.5 million

Berlin / Frankfurt Germany | Posted on January 28th, 2013

The shareholders' Meeting of Nanostart-holding MagForce AG (Frankfurt, XETRA: MF6), a leading medical technology company in the field of nanomedicine in oncology, approved all agenda items with a majority of votes.

With immediate effect, the Company's share capital can therefore be increased by up to €18.6 million against cash and noncash contributions, granting preemptive rights to shareholders. The new shares with a notional value of €1.00 will be issued for €1.80. The Company was also granted the right to issue new shares at the issue price of €1.80 per share to certain creditors against noncash contributions to the extent that shareholders' preemptive rights are disapplied for shares counting as fractions or that preemptive rights have not been exercised following the expiration of the subscription period for all shareholders, but only up to a maximum of 8,933,643 new shares. The preemptive rights will not be traded on the stock exchange.

In the short to medium term, MagForce will use part of these cash funds to finance the post-marketing glioblastoma study. As well as financing its operating business, the Company will repay loans in the amount of €16.1 million to its primary creditors, insofar as this amount is not converted to equity as part of a debt-to-equity swap.

"The capital measures approved today will allow the Company to restructure its balance sheet by eliminating €16.1 million in debt as part of its strategic financing activities while also raising sufficient cash funds for upcoming tasks," explained Christian von Volkmann, CFO and Co-CEO. "In view of the Company's long-term corporate planning and the establishment of its NanoTherm® therapy on the market, the Management and Supervisory Board felt that these measures were vital to the Company's future and were very pleased with the approval of these measures. We are confident that MagForce's business model with NanoTherm® therapy will be a profitable one."

####

About Nanostart AG
Nanostart AG is a leading nanotechnology venture capital company. The company invests venture capital (VC) in promising young nanotechnology companies. Nanostart invests globally and at different phases of development. Emphasis of investments is on especially innovative industries such as cleantech, life sciences, and IT/electronics. Nanostart invests either directly in nanotechnology companies or through a regional nanotechnology fund. The headquarters of Nanostart AG is in Frankfurt, Germany. Through its holding in Singapore, Nanostart Asia Pacific, the company also invests as partner of the Singaporean government.

About MagForce AG:
MagForce AG is a leading medical technology company in the field of nanomedicine in oncology. The Company's proprietary, NanoTherm® therapy, enables the targeted treatment of solid tumors through the intratumoral generation of heat via activation of magnetic nanoparticles. NanoTherm®, NanoPlan®, and NanoActivator(TM) 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(TM)are trademarks of MagForce AG in select 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.

For more information, please click here

Contacts:
Nanostart AG
Dr. Hans Joachim Dürr
Head of Corporate Communications
Goethestrasse 26-28
60313 Frankfurt/Main
P: +49 69-21 93 96 111
F: +49 69-21 93 96 150

Copyright © Nanostart AG

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

New Biological Nano-Fertilizers Presented in Iran as Appropriate Replacements for Chemical Fertilizers April 18th, 2015

Iranian Foodstuff, Agricultural Industries Welcome Nanotechnology Packaging Bags April 18th, 2015

Nanocomposites Play Effective Role in Production of Smart Fibers April 18th, 2015

Dais Analytic Corporation Appoints Eliza Wang to Board of Directors: Company's Newest Director Brings Expertise in Commercial and Legal Matters Both in the United States and China; Joins on the Heels of Successful Business Development Trade Mission to China April 18th, 2015

VC/Funding/Angel financing/Loans/Leases/Crowdfunding

Long Island Capital Alliance Announces Participants for Brookhaven National Laboratory Technology Transfer Capital Forum on May 8: Keynote Speaker Dr. Doon Gibbs, Director of Brookhaven National Laboratory April 16th, 2015

Harris & Harris Group Portfolio Company OpGen Files Amended Registration Statement for Proposed Public Offering April 8th, 2015

Hong Kong Investors Bullish on Dais Analytic Invest $5.75M, Provide $60M Contract, and Create New Joint Venture Company March 26th, 2015

Harris & Harris Group Reports Financial Statements as of December 31, 2014 and Posts Annual Letter to Shareholders on Website March 17th, 2015

Investments/IPO's/Splits

Long Island Capital Alliance Announces Participants for Brookhaven National Laboratory Technology Transfer Capital Forum on May 8: Keynote Speaker Dr. Doon Gibbs, Director of Brookhaven National Laboratory April 16th, 2015

Graphenea embarks on a new era April 16th, 2015

Harris & Harris Group Portfolio Company OpGen Files Amended Registration Statement for Proposed Public Offering April 8th, 2015

Harris & Harris Group Reports Financial Statements as of December 31, 2014 and Posts Annual Letter to Shareholders on Website March 17th, 2015

Nanomedicine

Optical resonance-based biosensors designed for medical applications April 18th, 2015

Nanocomposites Play Effective Role in Production of Smart Fibers April 18th, 2015

Novel nanoparticles could save soldiers' lives after explosions April 15th, 2015

Nanoparticles at specific temperature stimulate antitumor response: Dartmouth researchers identify precise heat to boost immune system against cancer tumors April 14th, 2015

Announcements

New Biological Nano-Fertilizers Presented in Iran as Appropriate Replacements for Chemical Fertilizers April 18th, 2015

Iranian Foodstuff, Agricultural Industries Welcome Nanotechnology Packaging Bags April 18th, 2015

Nanocomposites Play Effective Role in Production of Smart Fibers April 18th, 2015

Dais Analytic Corporation Appoints Eliza Wang to Board of Directors: Company's Newest Director Brings Expertise in Commercial and Legal Matters Both in the United States and China; Joins on the Heels of Successful Business Development Trade Mission to China April 18th, 2015

NanoNews-Digest
The latest news from around the world, FREE




  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More










ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project







© Copyright 1999-2015 7th Wave, Inc. All Rights Reserved PRIVACY POLICY :: CONTACT US :: STATS :: SITE MAP :: ADVERTISE