MagForce AG: extends EUR 5.0 million Convertible Notes agreement with Lansdowne Investment Company Cyprus Limited and issues additional Convertible Notes in the amount of EUR 2.0 million
MagForce AG / Key word(s): Corporate Action
Disclosure of an insider information acc. to Article 17 MAR of the Regulation (EU) No 596/2014
MagForce AG extends EUR 5.0 million Convertible Notes agreement with Lansdowne Investment Company Cyprus Limited and issues additional Convertible Notes in the amount of EUR 2.0 million
Berlin, February 25, 2022 – MagForce AG (Frankfurt, Scale, Xetra: MF6, ISIN: DE000A0HGQF5), a leading medical device company in the field of nanomedicine focused on oncology, today extended a Convertible Note agreement in the amount of EUR 5.0 million with Lansdowne Investment Company Cyprus Limited (“Lansdowne”) and issues additional EUR 2.0 million under the Convertible Notes to fund further expansion of NanoTherm Therapy. The aggregate EUR 7.0 million Convertible Notes have a term of 12 months and bear 12 percent interest. At the sole discretion of Lansdowne the notes can be converted into shares of Magforce AG at a price of EUR 2.75 or be exchanged for shares of MagForce USA, Inc. at a share price of EUR 11.00 per share, and/or to be paid in cash.
As permitted by the authorization of the MagForce Annual General Meeting of August 12, 2021, the additional convertible notes are issued without subscription rights for existing shareholders.
– End of Insider Information –
This release may contain forward-looking statements and information which may be identified by formulations using terms such as “expects”, “aims”, “anticipates”, “intends”, “plans”, “believes”, “seeks”, “estimates” or “will”. Such forward-looking statements are based on our current expectations and certain assumptions, which may be subject to a variety of risks and uncertainties. The results actually achieved by MagForce AG may substantially differ from these forward-looking statements. MagForce AG assumes no obligation to update these forward-looking statements or to correct them in case of developments, which differ from those, anticipated.
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