Brief: Sygnis plans to acquire Innova Biosciences Ltd.
08/05/2017 11:52
May 8 (Reuters) - SYGNIS AG LIO1k.DE
* SYGNIS AG PLANS TO ACQUIRE PROFITABLE INNOVA BIOSCIENCES
LTD. FOR EUR 8 MILLION IN CASH AND UP TO 3.5 MILLION SHARES
* COMBINED 2017 PRO-FORMA REVENUES EXPECTED TO EXCEED EUR 10
MILLION
* PURCHASE PRICE CONSISTS OF A CASH PAYMENT OF EUR 8
MILLION, 2 MILLION SHARES OF SYGNIS AG TO BE ISSUED BY WAY OF A
CAPITAL INCREASE AGAINST CONTRIBUTION IN KIND AS WELL AS UP TO A
FURTHER 1.5 MILLION SHARES
* SUBSCRIPTION PRICE IN CAPITAL INCREASE HAS BEEN SET AT EUR
1.38 PER SHARE
* SYGNIS AG - IN ADDITION TO FINANCING EUR 8 MILLION CASH
PURCHASE PRICE FOR INNOVA, EXPECTED PROCEEDS FROM CAPITAL
INCREASES OF UP TO EUR 10 MILLION WILL BE USED FOR ONE-OFF
TRANSACTION AND INTEGRATION COSTS ANDTO FINANCE WORKING CAPITAL
Source text for Eikon: ID:nEQbjRl13
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