Brief: Medincell Raises EUR 15.6 Million In Capital Increase

Medincell SA

16/06/2020 06:54

June 16 (Reuters) - Medincell SA  MEDCL.PA :
    * MEDINCELL ANNOUNCES THE GREAT SUCCESS OF ITS CAPITAL
INCREASE
AND RAISES 15.6 M€
    * TO FINANCE DEVELOPMENT OF PRODUCT PORTFOLIO BASED ON BEPO®
TECHNOLOGY COMBINED WITH ALREADY APPROVED AND WIDELY USED ACTIVE
INGREDIENTS
    * AMOUNT SHOULD ENABLE MEDINCELL TO ACHIEVE ITS STRATEGIC
OBJECTIVES AND COVER ITS WORKING CAPITAL NEEDS UNTIL THE SECOND
HALF OF 2022
    * WILL ALSO MAKE IT POSSIBLE TO INITIATE NEW PROGRAMS IN
VARIOUS
THERAPEUTIC AREAS, IN LINE WITH THE COMPANY'S STRATEGY
    * WILL ALSO CONTRIBUTE TO FINANCING INITIAL COSTS OF MDC-TTG
PROGRAM
    * MEDINCELL SHOULD ALREADY BE RECEIVING ROYALTY REVENUES
FROM SALE
OF FIRST PRODUCTS BASED ON BEPO® TECHNOLOGY
    * AMOUNT RAISED IN CONTEXT OF OFFER, COMBINED WITH COMPANY'S
CONSOLIDATED CASH POSITION AT 31 MARCH 2020 OF 12.4 M€
    * THE ISSUE PRICE OF THE NEW SHARES HAS BEEN SET AT €7.75
PER
SHARE
    * SETTLEMENT AND DELIVERY OF NEW SHARES AND ADMISSION TO
TRADING
ON REGULATED MARKET OF EURONEXT PARIS SCHEDULED FOR JUNE 18,
2020

Source text for Eikon:  ID:nNDL3mZRFK 
Further company coverage:  MEDCL.PA 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 778 51 10;))