FRANKFURT & BERLIN--(BUSINESS WIRE)--
Nanostart (OTCQX: NASRF.PK - News) -holding MagForce AG (Frankfurt, XETRA: MF6), a leading medical technology company focusing on nanomedicine in oncology has completed a share placement with institutional investors. All of the 825,408 newly issued shares were placed, with profit participation rights dating from January 1, 2011, at a price of EUR 5.50 per share. The gross proceeds from the capital increase, in the amount of EUR 4,539,744.00 will be used for further commercialization activities and the clinical development of the NanoTherm technology along with the expansion of commercial and strategic partnerships.
This transaction increases the nominal share capital of the company, from EUR 4.127.041, divided into 4,127,041 shares with an imputed nominal value of EUR 1.00, to EUR 4,952,495.00.
To support the transaction, Nanostart AG as the major shareholder of the company, signed a lock-up which indicates that Nanostart AG will sell no shares of MagForce AG over the stock exchange within the next twelve months.
The capital increase and the meetings with the strategic investors were managed by Silvia Quandt & Cie. AG as a tied agent as defined in 2 paragraph 10 of the Banking Act (KWG) and called on account of biw Bank for Investments & Securities Ltd.
About Nanostart:
Nanostart AG (OTCQX: NASRF.PK - News) headquartered in the German financial capital of Frankfurt, is a leading nanotechnology investment company, with portfolio companies spanning the globe from Silicon Valley to Singapore. The company provides venture capital financing for nanotechnology companies in various growth phases with a focus on innovation-driven industries of the future such as cleantech, life sciences and IT/electronics. Through its subsidiary Nanostart Asia and the venture capital fund in Singapore, Nanostart is proud to be the investment partner of the Singaporean government.
About MagForce:
MagForce AG (XETRA: MF6.DE - News) is a leading medical technology company focusing on nanomedicine in oncology. The companys proprietary procedure, NanoTherm therapy, enables the targeted treatment of solid tumors through the intratumoral generation of heat via activation of magnetic nanoparticles. NanoTherm, NanoPlan, and NanoActivator are components of the therapy and have received EU-wide regulatory approval as medical devices for the treatment of brain tumors. MagForce, NanoTherm, NanoPlan and NanoActivator are trademarks of MagForce AG in selected countries. For more information, please visit http://www.magforce.com.
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Nanostart-holding MagForce AG Successfully Completes Capital Increase