MOLOGEN AG
MOLOGEN AG: Convertible bond worth EUR4.99 million successfully placed
DGAP-News: MOLOGEN AG / Key word(s): Corporate Action NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. – Total amount issued: EUR4.99 million, maturity of 8 years – Coupon of 6% p.a. – Major shareholder GTD exercises its subscription rights in full and additionally subscribes all bonds not taken up by other shareholders Berlin, 17 January 2017 – Biotechnology Company MOLOGEN AG (ISIN DE0006637200, SIN 663720) today announced the full placement of a convertible bond with a total amount of EUR4.99 million. The bonds to be issued in a denomination of EUR10.00 each with a maturity of 8 years feature 6% interest p.a. In the period from 1 April 2017 up to maturity, it will be possible to convert the bonds into a maximum of 3,124,994 shares in the company in total at a conversion price of EUR1.60 per share. The convertible bond was issued as part of a prospectus-exempt public rights offering. Almost 60% were subscribed by existing MOLOGEN shareholders. Global Derivate Trading GmbH (GDT), the major shareholder of the company, took up all convertible bonds 2017/2025 that were not subscribed. Ahead of the transaction, GDT made a binding commitment to the company that it would purchase 60% of convertible bonds 2017/2025. Overall, the order book reflected a significant demand overhang. Issuance and delivery of the bonds will take place on 20 January 2017. The funds inflow is to be used for the ongoing implementation of the “Next Level” strategy program and specifically the further development of the lead product, immunotherapy with lefitolimod. Furthermore, the additional funds inflow will give the company greater financial scope for implementing and securing other strategic and operating measures in 2017. In addition, this puts the company in a stronger position for potential future negotiations on partnership and licensing agreements. Based on today’s planning, financing is expected to be secured until the start of 2018. Dero Bank, Munich, Germany was the sole bookrunner for the transaction. Blättchen Financial Advisory GmbH provided support to MOLOGEN on the transaction in an advisory capacity. Walter Miller, Chief Financial Officer of MOLOGEN AG, explained: “We are very happy with the level of investor demand and the full placement of the bond issue. In particular, we are pleased about the high subscription level and the support we once again received from our major shareholder.” In November 2016, the company issued a first convertible bond with a nominal amount of EUR2.54 million at similar offering terms. That issue was taken up in full by major shareholder GDT, excluding shareholders’ subscription rights. MOLOGEN AG also successfully carried out a significantly oversubscribed capital increase in October 2016, with gross proceeds of EUR13.6 million. MOLOGEN AG The cancer immunotherapy lefitolimod (MGN1703) is the company’s lead product and best-in-class TLR9 agonist. Treatment with lefitolimod (MGN1703) triggers a broad and strong activation of the immune system. Due to this mode of action, namely to reactivate the monitoring function of the immune system, lefitolimod (MGN1703) can be recognized as an Immune Surveillance Reactivator (ISR). It has the potential to be applied to various indications. ISR lefitolimod (MGN1703) is currently being developed for first-line maintenance treatment of colorectal cancer (pivotal study) and small cell lung cancer (randomized controlled trial). Furthermore, it is also being investigated in an extended phase I study in HIV and a phase I combination study with the checkpoint inhibitor ipilimumab (Yervoy(R)). Next to checkpoint inhibitors, lefitolimod is one of the few product candidates that are in a phase III clinical trial (IMPALA) in the field of immuno-oncology and close to reaching the market. MOLOGEN’s pipeline focus is on new, innovative immunotherapies to treat diseases for which there is a high medical need. www.mologen.com MOLOGEN(R), dSLIM(R), EnanDIM(R) and MIDGE(R) are registered trademarks of MOLOGEN AG.
17.01.2017 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English |
Company: | MOLOGEN AG |
Fabeckstraße 30 | |
14195 Berlin | |
Germany | |
Phone: | 030 / 841788-0 |
Fax: | 030 / 841788-50 |
E-mail: | presse@mologen.com |
Internet: | www.mologen.com |
ISIN: | DE0006637200 |
WKN: | 663720 |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
End of News | DGAP News Service |