DGAP-Adhoc: PAION COMPLETES PRIVATE PLACEMENT THROUGH THE

New Post Public Reply Private Reply Replies (0) Message Board

News Desk 2018

Feb 12, 2014 at 6:15 PM

DGAP-Adhoc: PAION COMPLETES PRIVATE PLACEMENT THROUGH THE ISSUANCE OF NEW SHARES IN A PLACEMENT VOLUME OF EUR 3.17 MILLION

PAION AG / Key word(s): Capital Increase 12.02.2014 23:54 Dissemination of an Ad hoc announcement according to Â§ 15 WpHG, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. AD-HOC ANNOUNCEMENT ACCORDING TO Â§ 15 WPHG PAION COMPLETES PRIVATE PLACEMENT THROUGH THE ISSUANCE OF NEW SHARES IN A PLACEMENT VOLUME OF EUR 3.17 MILLION Aachen (Germany), 12 February 2014 - The biopharmaceutical company PAION AG (ISIN DE000A0B65S3; Frankfurt Stock Exchange General Standard: PA8) announces that the Company will issue an additional amount of about 1.3 million new shares with a total value of around EUR 3.17 million in a private placement to the U.S. institutional investor Capital Ventures International (CVI), under exclusion of the shareholders' subscription rights. The U.S. institutional investor CVI and PAION AG agreed in December 2013 that CVI will have the right to acquire new shares in PAION AG in a private placement resulting in proceeds up to a total amount of EUR 6.0 million, whereby the purchase price per new share had to correspond to a customary five percent discount on the volume weighted average share price during a reference period. In a first step, CVI had agreed on 16 January 2014 to immediately invest half of the amount of EUR 6.0 million, i.e. EUR 3.0 million. In this first step, CVI has acquired about 1.25 million shares. Today CVI has decided to acquire additional about 1.3 million shares with a total value of around EUR 3.17 million, the purchase price per new share corresponded to a five per cent discount on the volume weighted average share price over the last five trading days prior to 12 February 2014. The total proceeds from the private placement of about EUR 6.17 million together with the gross issue proceeds of EUR 4.99 million from the rights offering will further improve PAION's financial leeway. The proceeds from the transaction will be used mainly for the preparation of the Remimazolam Phase III development program. Specifically it is intended to use the funds to produce the study medication and validate the production at market scale. ### About PAION PAION AG is a publicly-listed biotech company headquartered in Aachen, Germany with a second site in Cambridge, UK. The company has a track record in developing hospital-based treatments for which there is substantial unmet medical need. PAION AG is transforming its business model from a pure development company to a specialty pharmaceutical company with a focus on anaesthesia products to take advantage of the unique profile of its main compound, Remimazolam. Contact Ralf Penner Director Investor Relations / Public Relations PAION AG Martinstrasse 10-12 52062 Aachen - Germany Phone: +49 241 4453-152 E-mail: r.penner@paion.com www.paion.com Disclaimer: This release contains certain forward-looking statements concerning the future business of PAION AG. These forward-looking statements contained herein are based on the current expectations, estimates and projections of PAION AG's management as of the date of this release. They are subject to a number of assumptions and involve known and unknown risks, uncertainties and other factors. Should actual conditions differ from the Company's assumptions, actual results and actions may differ materially from any future results and developments expressed or implied by such forward-looking statements. Considering the risks, uncertainties and other factors involved, recipients should not rely unreasonably upon these forward-looking statements. PAION AG has no obligation to periodically update any such forward-looking statements to reflect future events or developments. This release does not constitute an offer of securities for sale or a solicitation of an offer to purchase securities of PAION AG in the United States or any other jurisdiction. Neither this announcement nor anything contained herein shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever in any jurisdiction. The securities of PAION AG may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended (the 'Securities Act'). The securities of PAION AG have not been, and will not be, registered under the Securities Act. 12.02.2014 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: PAION AG Martinstr. 10-12 52062 Aachen Germany Phone: +49 (0)241-4453-0 Fax: +49 (0)241-4453-100 E-mail: info@paion.com Internet: www.paion.com ISIN: DE000A0B65S3 WKN: A0B65S Listed: Regulierter Markt in Frankfurt (General Standard); Freiverkehr in Berlin, DÃ¼sseldorf, Hamburg, MÃ¼nchen, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------

Newer

Older

Scroll down for more posts ▼

Top 10 Most Recent News Articles

ID Plans Secures Polaris Investment for Real Estate Boost

New Moves in Real Estate Tech Can you smell opportunity? Because it’s in the air down in Tampa where ID Plans just inked a deal with Polaris Growth Fund. We’re talking some serious private equity backing here aimed at ramping up what ID Plans can lay down in the commercial real estate sector. If you're not on this ride yet, it might be time to take a closer look....

KLX Energy Refreshes Board with Seasoned Directors

A New Chapter for KLX Energy Services KLX Energy Services has just reshuffled its board, and it's stirring interest. With Franklin S. Edmonds, Jr. and E. Dirk Hallen stepping into the roles of independent directors, effective October 29, 2026, there's change in the air. They take over from John Collins and Tom McCaffrey, who've been holding the fort during some...

Cohere's CAD $7 Billion Raise Signals AI Power Shift

Changing the Game: Cohere's Massive Series E Raise There's a seismic shift happening up north, and it’s not the aurora borealis. Cohere just announced the initial close of a staggering CAD $7 billion Series E funding round, eyeing a CAD $35.7 billion valuation. If it pans out, it’d be the kind of cash grab that's never been seen in Canadian tech history. Why This...

Follett's $2.5M Investment Revamps UF Bookstore Experience

A New Era for the UF Bookstore If you've ever strolled through a dusty college bookstore and found yourself yearning for a bit of flair, Gainesville has got a surprise for you. The University of Florida, in collaboration with Follett Higher Education, just splashed $2.5 million to turn their bookstore into a dazzling retail wonderland. Not just about flogging textbooks...

Cerebras Faces Durability Allegations: Investor Alert

Cracks in Cerebras' Processor Promises? When you dance with high-stakes tech stocks, sometimes you end up stepping on a few toes. This seems to ring true as Cerebras Systems (CBRS) dances its way into hot water. Allegations from Culper Research suggest their fancy AI processors, which are supposed to be the poster children of reliability, might bow out early. Digging...

David Cornue Brings Story Insights to SXSW 2027

Crafting Stories with Precision: Cornue's Return In the world where Austin becomes a melting pot of ideas every spring, the return of David Cornue to SXSW casts a familiar, yet electrifying spark. This best-selling author and television whiz is slated to share his story magic at two workshops: one in the Lifestyle track and the other in the Film & TV track. Folks on-site...

Marvix AI & Unlimited Systems Forge Game-Changing Partnership

Two Forces Colliding in Specialty Care There's a new dynamic duo in town, and they're set to shake up the specialty practice world. Marvix AI, with its cutting-edge clinical documentation AI, and Unlimited Systems, a powerhouse in revenue cycle management, have teamed up in a way that promises to streamline and optimize the specialty practice workflow substantially....

New Era at Farah & Farah: Layla Farah Joins Firm

Expanding the Family Legacy In the bustling city of Jacksonville, a fresh breeze has swept the corridors of the longtime legal fortress, Farah & Farah. Layla Farah, fresh off her swearing-in ceremony, has entered the ranks. It's not every day you see a purely family-driven outfit pulling together generations in such a dramatic way. Three kiddos now walking the halls of...

Mausam Bhatt Joins Cars.com as Chief Product Officer

Shifting Gears with a New Leader Sometimes the name alone isn't enough to get things rolling, but when someone who's built billion-dollar platforms from scratch joins your team, the engine's ready to roar. That's the motor firing up at Cars.com with Mausam Bhatt behind the wheel as their fresh Chief Product Officer. If you think a new set of eyes can only see what's...

Picturing Grief: Scoville's Visual Journey in Loss

Let Images Speak the Unspeakable So, here's the deal: grief isn't something you can just wrap up in a neat little package of words. It's jagged, messy—and for many, untouchable by a traditional self-help roadmap. Enter Picturing Grief, the book by Michelle Scoville that smashes the mold with its arresting mix of imagery and reflection. Freshly on the scene courtesy of...