Sygnis AG intends to issue new shares to finance further growth and to commercialize its product portfolio. A team of Heuking Kühn Lüer Wojtek led by Dr. Thorsten Kuthe, Partner at the law firm’s Cologne office, advised the company on the capital increase.
The capital increase by means of subscription rights offering to existing shareholders for up to 3,855,694 new shares is expected to yield gross proceeds of EUR 6.7 million plus a contribution of a loan of EUR 0.6 million. The subscription price per share is EUR 1.90. Shareholders will be granted an oversubscription option. New shares that remain unsubscribed by shareholders will be offered to selected qualified investors in a private placement.
Sygnis, with headquarters in Germany and Spain, specializes in developing and commercializing innovative products for DNA amplification and sequencing. Based on its proprietary technologies, Sygnis has developed a commercial product portfolio that addresses the key challenges in the rapidly growing fields of molecular biology and Next Generation Sequencing. The proceeds of the new share issue are to be used to further develop the product portfolio, to commercialize the product pipeline, particularly in the U.S., to expand the global customer base, and for other activities. The principal shareholder Genetrix S.L., Spain, undertook to contribute some EUR 600,000 in the form of a contribution in kind and thus to convert its loan into equity.
Sygnis AG is listed in the Prime Standard of Deutsche Börse. The team led by Dr. Kuthe advises the company on a regular basis.
Counsel to Sygnis AG
Heuking Kühn Lüer Wojtek:
Dr. Thorsten Kuthe (Lead),
Felicitas Boehm, LL.M. Taxation,
Christopher Görtz (all Capital Markets), all Cologne,
Fabian G. Gaffron (Tax), Hamburg