EANS-Adhoc: Sygnis Pharma AG
SYGNIS secures up to EUR 10 Million through a 3
year Standby Equity Distribution Agreement with Yorkville
ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement.
Company Information
19.10.2009
Heidelberg, 19 October 2009 - SYGNIS Pharma AG (Frankfurt: LIO; ISIN DE0005043509; Prime Standard), a clinical stage biotech company developing innovative CNS treatments, today announced that it has entered into a 3 year standby equity distribution agreement (SEDA) with YA Global Master SPV LTD (YA Global).
The agreement provides SYGNIS with the option to request YA Global, during the next 36 months, to subscribe for newly issued SYGNIS shares, from the company´s authorized capital, in tranches of up to EUR 500,000 each. The subscription price of the new shares will be determined at 95% of the lowest volume-weighted average price of one of the five trading days following the date of the relevant draw down notice.
The total value of this equity facility aggregates to up to EUR 10 million, provided that the aggregate number of shares issued to YA Global shall not exceed 9,9% of SYGNIS´ share capital. YA Global can either accumulate these shares or place them in the market. However, YA Global is committed not to short sell or enter into any hedging transactions related to particular company stock.
### Disclaimer Some statements included in this press release, relating neither to proven financial results nor other historical data, should be viewed as forward-looking, i.e. not definite. Such statements are mainly predictions of future results, trends, plans or goals. These statements should not be considered to be total guarantees since given their very nature they are subject to known and unknown risks and imponderability and can be affected by other factors as a consequence of which the actual results, plans and goals of SYGNIS Pharma AG may deviate greatly from the established conclusions or implied predictions contained in such statements. SYGNIS does not undertake to publicly update or revise these statements in the light of new information or future results or for any other reason. ###
Further inquiry note:
Dr. Franz-Werner Haas
VP Operations / General Counsel
Tel: +49 (0) 6221-454 812
Email: franz-werner.haas@sygnis.de
Branche: Biotechnology
ISIN: DE0005043509
WKN: 504350
Index: CDAX
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Hamburg / free trade
Stuttgart / free trade
Düsseldorf / free trade
Hannover / free trade
München / free trade