DGAP-Ad-hoc: MOLOGEN AG / Key word(s): Corporate Action/Capital Increase
Insider information according to article 17 MAR
MOLOGEN AG resolves first capital increase for the execution of the Share Subscription Facility concluded in October 2017
Berlin, 18 December 2017 - The Executive Board of biopharmaceutical company MOLOGEN AG (ISIN DE0006637200, SIN 663720) today resolved, with the approval of the Supervisory Board, an increase of the share capital against contribution in cash without subscription rights for shareholders on the basis of the authorized capital. The Company's share capital is to be increased from currently EUR 34,295,343 to EUR 34,570,343 through issuing 275,000 new non-par value ordinary bearer shares. The new shares were privately placed with the US investor Global Corporate Finance (GCF) at a price of EUR 2.198 per new share within the framework of the Share Subscription Facility announced on 24 October 2017. The placement price equals 95% of the five consecutive trading days Volume Weighted Average Price (VWAP). Through this capital increase MOLOGEN will receive gross proceeds of EUR 604,450.
As announced in the ad-hoc notification on 24 October 2017, MOLOGEN intends to exercise its right towards the investor to issue draw-down notices within the upcoming months. Based on the current planning, MOLOGEN will implement several additional capital increases within the next months on a similar scale as the one resolved today - depending on the market conditions - until the Company has fully utilized the total volume of the Share Subscription Facility amounting to originally 3,394,725 shares (now 3,119,725). The new shares will each be placed at a price equal to 95% of the five consecutive trading days Volume Weighted Average Price (VWAP) following the relevant draw down notice. The scale of one draw down notice corresponds to the daily sales volume on certain trading platforms during the last five trading days before the declaration of the draw down notice multiplied by a factor. The total purchase price for the shares to be placed per draw-down-notice is limited to EUR 1,000,000. Based on these prospective capital increases, and based on the current share price, MOLOGEN could receive gross proceeds amounting to around EUR 8 million, depending on the further share price development. These proceeds would be used to finance the Company's operations beyond Q1 2018 and, in particular, for the further implementation of the strategy "Next level".
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640215 18-Dec-2017 CET/CEST