The Martinsried-based drug discovery and development company 4SC AG (Frankfurt, Prime Standard: VSC) announces the placement of new shares, after the Management Board, with the approval of the Supervisory Board, passed a resolution to authorise an increase of share capital on 20 June 2008. The capital increase from the authorised capital included a collateral rights offering to existing shareholders at a subscription price of 3.10 Euro per share. The remaining unsubscribed shares were completely used for a private placement at the subscription price. The capital increase generated approx. 29.45 million Euros in gross proceeds for the company.
The proceeds of the capital increase are to be used for financing the acquisition of Nycomed's oncology projects in the amount of 14 million Euros. Additional funds are to be used for further development of the existing as well as the new project pipeline of 4SC AG. The corporate action was supported by Santo Holding (Deutschland) GmbH, who is the largest single shareholder in 4SC AG.
Following the completion of the capital increase, a total of 9,500,913 new shares were placed. As a result of the capital increase, 4SC AG's subscribed capital increased to 28,502,739.00 Euros. The free float is approximately 29.24 percent of issued shares based on today's knowledge.
The approval of the new shares for trading at the Frankfurt Stock Exchange is not expected before November / December 2008.
The capital increase was accompanied by Conrad Hinrich Donner Bank AG.
The proceeds of the capital increase are to be used for financing the acquisition of Nycomed's oncology projects in the amount of 14 million Euros. Additional funds are to be used for further development of the existing as well as the new project pipeline of 4SC AG. The corporate action was supported by Santo Holding (Deutschland) GmbH, who is the largest single shareholder in 4SC AG.
Following the completion of the capital increase, a total of 9,500,913 new shares were placed. As a result of the capital increase, 4SC AG's subscribed capital increased to 28,502,739.00 Euros. The free float is approximately 29.24 percent of issued shares based on today's knowledge.
The approval of the new shares for trading at the Frankfurt Stock Exchange is not expected before November / December 2008.
The capital increase was accompanied by Conrad Hinrich Donner Bank AG.
