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Paion AG plans capital increase by issuing up to 18.5 million shares


Friday, 11 Apr 2014 04:58am EDT 

Paion AG:To resolve upon capital increase by issuing up to 18.5 million shares.Resolution on this capital increase planned to be adopted at upcoming AGM, to be held on May 21.Capital increase to be implemented following decision by AGM in Q2 2014.It is planned to offer new shares first to shareholders of company by way of indirect subscription rights.Trading in subscription rights shall be set up.All new shares that are not subscribed for shall be placed with institutional investors by way of accelerated bookbuilt offering.Subscription price to be determined by Board before beginning of subscription period at appropriate discount to share price.Net proceeds from offering to be used primarily for further development of Remimazolam in US and EU.Remaining proceeds from capital increase in amount of approximately 5-10 million euros could be invested in premarketing activities.In this transaction, Close Brothers Seydler Bank AG (Germany) act as Sole Global Coordinator and Bookrunner.Blaettchen Financial Advisory GmbH acts as advisor to PAION on transaction. 

Company Quote

2.84
-0.04 -1.39%
7:50am EDT