Brief: Medicalgorithmics Signs Investment Deal With Biofund Capital Management

Medicalgorithmics SA

03/10/2022 08:08

Oct 3 (Reuters) - Medicalgorithmics SA  MDG.WA :
    * SAID ON SATURDAY IT HAS SIGNED AN INVESTMENT DEAL WITH
US-BASED
BIOFUND CAPITAL MANAGEMENT (BIOFUND)
    * BIOFUND TO ACQUIRE 5.0 MILLION SHARES (49.99% VOTING
RIGHTS) IN
COMPANY'S INCREASED SHARE CAPITAL FOR 13.8 MILLION ZLOTYS AND IN
KIND CONTRIBUTION OF 100% STAKE IN US-BASED KARDIOLYTICS WORTH
$44.9 MLN
    * SHARE ISSUE PRICE SET AT 44.27 ZLOTYS EACH
    * BIOFUND TO ALSO PROVIDE COMPANY WITH ADDITIONAL FINANCING
OF UP
TO 13.8 MILLION ZLOTYS OVER THREE YEAR PERIOD FROM SHARE
PURCHASE
    * KARDIOLYTICS DEVELOPS AI ALGORYTHMS RELATED TO HEART
ATTACK
RISK, CARDIAC DISEASES AND 3D MODELLING
    * TRANSACTION ENDS COMPANY'S REVIEW OF STRATEGIC OPTIONS
    * COMPANY'S EGM TO VOTE ON I, J, K AND L SERIES SHARE ISSUE
WITH
PRIVATE SUBSCRIPTION

        
 Source text for Eikon:  urn:newsml:reuters.com:*:nEM8v60Q3a, urn:newsml:reuters.com:*:nEM4vT6QPa
 Further company coverage:  MDG.WA  
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