SYGNIS plans to acquire profitable proteomics player
Combined 2016 pro-forma revenues to exceed EUR 5 million
To finance the transaction, the Management Board of SYGNIS AG has resolved, with the approval of the Supervisory Board, to increase the Company’s share capital by up to EUR 20,538,089.00 from EUR 16,803,891.00 to EUR 37,341,980.00 by issuing up to 20.538.089 shares by way of a rights offering.
New shares not subscribed in the rights offering will be offered to Expedeon shareholders as contribution in kind against Expedeon shares. SYGNIS intends to acquire Expedeon by issuing approximately 80% of the new shares against contributions in kind (Expedeon shares).
Any new shares not subscribed by SYGNIS or Expedeon shareholders will be offered to select qualified investors in a private placement. Expected proceeds from the capital increase of up to EUR 5 million will be used for transaction-related expenses, including EUR 1.7 million cash payments to Expedeon shareholders, one-off integration costs and financing working capital. The transaction is subject to the approval by the Annual General Meeting on 20 June 2016.
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