4SC AG (FSCGF.PK) said its management board passed a resolution with the approval of the Supervisory Board to carry out a cash capital increase out of authorised capital with subscription rights.
Authorised share capital of up to 20.98 million euros is available for the capital increase. This can be utilised to issue up to 20.98 million new no-par value bearer shares, each representing a pro rata amount of the share capital of 1.00 euro. With the number of new shares yet to be determined, the new shares are to be offered for subscription to existing shareholders by way of an indirect subscription right. Arrangements for the trade of subscription rights will not be made.
4SC plans to raise proceeds of between 10 million euros and 15 million euros from the capital increase. In the run up to the capital increase, a major shareholder has already expressed its intention to participate in the capital increase with an amount of up to 5 million euros. The proceeds from the capital increase shall primarily ensure the successful advancement of the company's existing clinical and preclinical development programmes.
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by RTT Staff Writer
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