DGAP-News: Epigenomics AG: Epigenomics AG secures financing of up to EUR 5m
(firmenpresse) - DGAP-News: Epigenomics AG / Key word(s): Corporate Action
Epigenomics AG: Epigenomics AG secures financing of up to EUR 5m
19.08.2013 / 08:30
---------------------------------------------------------------------
Berlin, Germany, and U.S.A., August 19, 2013 - Epigenomics AG (Frankfurt
Prime Standard: ECX, OTC: EPGNY), the German-American cancer molecular
diagnostics company, announced that it has entered into an agreement with
YA Global Master SPV Ltd. ('Yorkville') through which it secured a
convertible bond financing for up to EUR 5m. Under the terms of the
agreement, YA Global Master SPV Ltd., over a period of up to two years, is
obliged to purchase convertible notes with a total nominal amount of EUR 5m
at a purchase price of 95% of the nominal amount. Epigenomics may issue the
convertible notes in tranches of EUR 500,000 each at its sole discretion. A
tranche comprises 500 convertible notes in the form of bearer bonds each
with a nominal value of EUR 1,000 and transferrable only upon approval of
Epigenomics. The convertible notes will only be issued and may only be
traded in lots with a total nominal value of EUR 125,000.
The bonds carry no interest, have a term of nine months and are convertible
into shares of Epigenomics immediately upon issuance at the discretion of
the bearer of the bonds. The conversion price equals the average trading
price of Epigenomics shares during a 5 day period prior to the time of
conversion less a 5% discount, but cannot be lower than 80% of the
prevailing share price at the time of the issuance of the convertible
bonds.
To the extent permitted by the existing authorization of Epigenomics'
General Shareholders' Meeting, the bonds will be issued without pre-emptive
rights to existing shareholders. Currently Epigenomics has the
authorization to issue convertible bonds that may be converted into up to
1,196,783 shares without offering those pre-emptive rights. Further
convertible bonds resulting in the issuance of up to an additional
3,933,217 shares may be issued with pre-emptive rights to existing
shareholders.
Epigenomics expects that the proceeds from the issuance of these bonds will
help to fund the business operations up to and possibly beyond the FDA
approval of its lead product Epi proColon(R), a blood-based test for the
detection of colorectal cancer.
Dr. Thomas Taapken, CEO/CFO of Epigenomics commented: 'This positive
agreement with Yorkville provides us with a flexible financing tool that
will help to improve the financial situation of the company ahead of the
FDA approval decision for our lead product Epi proColon(R), which we still
await in 2013. We will consider alternative financing options in parallel.'
Saad Gilani, Head-Healthcare Group at Yorkville Advisors, commented: 'We
are very excited to be investing in Epigenomics and working with its
accomplished management team in its quest to develop and market easy to
administer blood-based diagnostic tests for early detection of cancer.'
- Ends -
Contact Epigenomics AG
Antje Zeise, Manager IR | PR
Epigenomics AG
Kleine Praesidentenstrasse 1
10178 Berlin
Tel +49 (0) 30 24345 386
ir(at)epigenomics.com
www.epigenomics.com
For US press inquiries:
Epigenomics, Inc.
9700 Great Seneca Highway Rockville
Maryland 20850
pr(at)epigenomics.com
About Epigenomics
Epigenomics (www.epigenomics.com) is a molecular diagnostics company
developing and commercializing a pipeline of proprietary products for
cancer. The Company's products enable doctors to diagnose cancer earlier
and more accurately, leading to improved outcomes for patients.
Epigenomics' lead product, Epi proColon(R), is a blood-based test for the
early detection of colorectal cancer, which is currently marketed in Europe
and is in development for the U.S.A. The Company's technology and products
have been validated through multiple partnerships with leading global
diagnostic companies and testing laboratories. Epigenomics is an
international company with operations in Europe and the U.S.A.
Epigenomics legal disclaimer
This communication expressly or implicitly contains certain forward-looking
statements concerning Epigenomics AG and its business. Such statements
involve certain known and unknown risks, uncertainties and other factors
which could cause the actual results, financial condition, performance or
achievements of Epigenomics AG to be materially different from any future
results, performance or achievements expressed or implied by such
forward-looking statements. Epigenomics AG is providing this communication
as of this date and does not undertake to update any forward-looking
statements contained herein as a result of new information, future events
or otherwise.
The information contained in this communication does not constitute nor
imply an offer to sell or transfer any product, and no product based on
this technology is currently available for sale by Epigenomics in the
United States or Canada. The analytical and clinical performance
characteristics of any Epigenomics product based on this technology which
may be sold at some future time in the U.S. have not been established.
End of Corporate News
---------------------------------------------------------------------
19.08.2013 Dissemination of a Corporate News, transmitted by DGAP - a
company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
Language: English
Company: Epigenomics AG
Kleine Präsidentenstraße 1
10178 Berlin
Germany
Phone: +49 30 24345-0
Fax: +49 30 24345-555
E-mail: ir(at)epigenomics.com
Internet: www.epigenomics.com
ISIN: DE000A1K0516
WKN: A1K051
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, München, Stuttgart
End of News DGAP News-Service
---------------------------------------------------------------------
226388 19.08.2013
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 19.08.2013 - 08:30 Uhr
Sprache: Deutsch
News-ID 288745
Anzahl Zeichen: 7957
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 271 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: Epigenomics AG: Epigenomics AG secures financing of up to EUR 5m"
steht unter der journalistisch-redaktionellen Verantwortung von
Epigenomics AG (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
