Medigene AG Completes Initial SEPA Tranche with Yorkville
Medigene AG Announces Completion of Initial SEPA Tranche
Medigene AG (FSE: MDG1), an innovative oncology platform company focused on cutting-edge T cell receptor (TCR)-guided therapies for cancer treatment, recently completed the closing of its first tranche under the Standby Equity Purchase Agreement (SEPA) with a fund managed by Yorkville Advisors Global, LP. This development marks a significant step in Medigene’s strategic efforts to enhance its funding capabilities, enabling further advancements in its research and development initiatives.
Details of the SEPA Tranche
The recently concluded tranche involved a subscription price set at EUR 1.70, which represents 95% of the average volume-weighted price of Medigene shares on the Xetra exchange. This price reflects the company’s commitment to providing value to its shareholders while ensuring that necessary capital is generated to support ongoing research.
Impacts on Share Capital
With this capital increase now registered with the Munich Local Court, Medigene AG’s share capital has risen to EUR 14,887,594.00. Specifically, the current share capital increased by EUR 150,000.00, indicating a strategic move to issue 150,000 new shares. These shares come with a full dividend entitlement from January 1 of the following calendar year. It's important to note that existing shareholders’ subscription rights were excluded from this offering, with Yorkville being specifically authorized to subscribe to the newly issued shares.
Funding Allocation
The gross proceeds of approximately EUR 0.25 million, derived from this SEPA tranche, will be allocated to enhancing Medigene’s business operations. This influx of funds is pivotal for continuing the company’s ambitious plans and research into TCR-guided therapies, an area of critical pharmaceutical development aimed at targeting and eliminating cancerous cells more effectively.
About Medigene AG
Medigene AG is a forward-thinking immuno-oncology platform company that champions the advancement of T cell receptor (TCR)-guided therapies specifically designed to combat cancer. The company's comprehensive End-to-End Platform is engineered to develop optimal T cell receptors characterized by exceptional attributes that ensure efficacy across various therapeutic models. Noteworthy therapies in development include TCR-guided T cell engager (TCR-TCE) therapies, TCR-natural killer cell (TCR-NK) therapies, and T cell receptor-engineered T cell (TCR-T) therapies, such as MDG3010 and MDG1015.
Company Contacts
For inquiries, you can reach out to Medigene AG:
Pamela Keck
Phone: +49 89 2000 3333 01
Email: investor@medigene.com
Frequently Asked Questions
What is Medigene AG focusing on?
Medigene AG focuses on developing T cell receptor-guided therapies to treat various types of cancer.
What was the subscription price for the first SEPA tranche?
The subscription price for the tranche was EUR 1.70, reflecting 95% of the average share price on the Xetra exchange.
How much capital did Medigene AG raise with this tranche?
Medigene AG raised approximately EUR 0.25 million from this first SEPA tranche.
Who was authorized to subscribe to the new shares?
Only Yorkville Advisors Global, LP was authorized to subscribe to the new shares issued under the SEPA agreement.
What will the raised funds be used for?
The raised funds will be utilized to support and enhance Medigene’s ongoing business operations and research initiatives.
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