Date: 2013-10-29
Type of information: Capital increase
Company: Epigenomics (Germany)
Investors: Biochain (USA), institutional investors in Europe and the U.S.
Amount: € 3.3 million
Funding type: private placement
Planned used: Epigenomics AG intends to use the net proceeds from the offering to finance its current operations and to strengthen the distribution capabilities, especially for its lead product Epi proColon®, a blood-based test for the early detection of colorectal cancer.
Others: * On October 29, 2013, the Executive Board of Epigenomics with the approval of the Supervisory Board has resolved on the increase of the Company’s share capital by € 660,260.00 from the authorized capital 2013/I against contribution in cash. The resolution follows a private placement of 660,260 newly issued shares with institutional investors in Europe and the U.S. Among others, the owners of Polymedco, Inc., Epigenomics’ commercialization partner in the U.S., participated in the transaction.
The issue price has been set at € 4.993 per share. This equals the volume-weighted average Xetra price during the period of the last three trading days.The preemptive rights of the shareholders were excluded. Gross proceeds from this to Epigenomics amounted € 3.3 m. Upon registration of the capital increase with the commercial register Epigenomics’ share capital will increase to € 12,996,387.
* On October 27, 2013, Epigenomics has announced that BioChain and certain of its shareholders will invest US$ 1.3 million (€ 0.94 million) into the Company by subscribing 217,935 newly issued shares. This investment follows the signing of an agreement regarding a broad strategic collaboration of both companies. Executive Board and Supervisory Board of Epigenomics approved the increase of the share capital of the company from authorized capital against contribution in cash. The issue price has been set at € 4.32 per share. This constitutes a 5% discount to the two-day XETRA closing price average prior to the announcement. After registration of the capital increase, the subscribed capital of Epigenomics AG will increase from currently € 12,118,192 to € 12,336,127.
Therapeutic area: Diagnostic - Cancer - Oncology
