SYGNIS AG receives binding commitment for the purchase of shares

Capital increase to finance Innova Biosciences acquisition

29-May-2017 - Germany

SYGNIS AG received a binding commitment for the purchase of shares up to a total of EUR 3.5 million as part of the previously announced cash capital increases to finance the acquisition of Innova Biosciences Ltd. Under the terms of the agreement signed today, the investor has committed to purchase up to 2,536,000 new shares at a price of EUR 1.38 per new share. The obligation is subject to the condition that the DAX closing price on the settlement day is not more than 10% lower than the DAX closing price as of today.

“We are delighted by the positive feedback on the planned acquisition of Innova Biosciences Ltd. and the great support we experience from investors for this important strategic transaction,” Pilar de la Huerta, Co-CEO and CBDO of SYGNIS, said.

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