Nanotechnology Now

Our NanoNews Digest Sponsors



Heifer International

Wikipedia Affiliate Button


android tablet pc

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

Chemical interactions between silver nanoparticles and thiols: A comparison of mercaptohexanol again September 30th, 2014

A Heartbeat Away? Hybrid "Patch" Could Replace Transplants: TAU researcher harnesses gold nanoparticles to engineer novel biocompatible cardiac patch September 30th, 2014

Iranian Scientists Determine Grain Size, Minimize Time of Nanocomposite Synthesis September 29th, 2014

Nanoparticles Used to Improve Quality of Bone Cement September 29th, 2014

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

Harris & Harris Group Letter to Shareholders on Website August 19th, 2014

Harris & Harris Group to Host Conference Call on Second-Quarter 2014 Financial Results on August 15, 2014 August 12th, 2014

SouthWest NanoTechnologies Inc. Announces $2.7 Million in New Financing to Fund Growth, Plant Expansion and Technical Personnel August 11th, 2014

Harris & Harris Group Reports Financial Statements as of June 30, 2014 August 10th, 2014

Investments/IPO's/Splits

PEN Inc. Announces New Trading Symbol: PENC: Stock Continues Trading on the OTCQB September 3rd, 2014

Aspen Aerogels, Inc. to Present at Barclays CEO Energy-Power Conference August 27th, 2014

Harris & Harris Group Letter to Shareholders on Website August 19th, 2014

Harris & Harris Group to Host Conference Call on Second-Quarter 2014 Financial Results on August 15, 2014 August 12th, 2014

Nanomedicine

A Heartbeat Away? Hybrid "Patch" Could Replace Transplants: TAU researcher harnesses gold nanoparticles to engineer novel biocompatible cardiac patch September 30th, 2014

How things coil: Researchers discover that simulation technology designed for Hollywood can be used as a predictive tool for understanding fundamental engineering problems September 29th, 2014

Nanoparticles Used to Improve Quality of Bone Cement September 29th, 2014

Teijin Aramid’s carbon nanotube fibers awarded with Paul Schlack prize: New generation super fibers bring wave of innovations to fiber market September 25th, 2014

Announcements

Chemical interactions between silver nanoparticles and thiols: A comparison of mercaptohexanol again September 30th, 2014

A Heartbeat Away? Hybrid "Patch" Could Replace Transplants: TAU researcher harnesses gold nanoparticles to engineer novel biocompatible cardiac patch September 30th, 2014

Iranian Scientists Determine Grain Size, Minimize Time of Nanocomposite Synthesis September 29th, 2014

Nanoparticles Used to Improve Quality of Bone Cement September 29th, 2014

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 1999-2014 7th Wave, Inc. All Rights Reserved PRIVACY POLICY :: CONTACT US :: STATS :: SITE MAP :: ADVERTISE