Heuking Kühn Lüer Wojtek advises Sygnis AG on capital increase
The Management Board of SYGNIS AG, a company listed in the Prime Standard of Frankfurt Stock Exchange, resolved with the approval of the Supervisory Board to increase the Company’s share capital to up to around EUR 10.5 by issuing up to 1,170,532 new shares against cash contribution. Dr. Thorsten Kuthe, Partner, und Sarah Ohl, both based at the Cologne office of commercial law firm Heuking Kühn Lüer Wojtek, advised SYGNIS AG on the capital increase.
The new shares shall be offered to the Company’s shareholders in a rights offering. The subscription ratio has been set at 8:1; i.e. eight existing shares entitle the shareholder to subscribe for one new share. The subscription price is EUR 2.65 per share. New shares that are not subscribed in the course of the rights offering by existing shareholders will be offered to selected investors in a private placement at a purchase price equivalent to the subscription price.
After the merger of X-Pol Biotech, which specializes in DNA tools for amplification and sequencing, with SYGNIS AG, the Company now focusses on the development and marketing of X-Pol’s technologies and products. Besides the already licensed and mar-keted product QualiPhi® for the amplification of DNA, X-Pol currently develops further products in the field of the so called Next Generation Sequencing. SYGNIS AG intends to use the gross issue proceeds of up to approx. 3.1 million euros for financing the operative business and further growth.
Advisors Sygnis AG
Heuking Kühn Lüer Wojtek, Cologne:
Dr. Thorsten Kuthe (Lead),
Sarah Ohl, LL.M., (both capital markets law)