The Management Board of BRAIN AG (Biotechnology Research And Information Network AG) has, with the approval of the Supervisory Board, successfully completed the issue of about 1.8 million new shares (corresponding to approx. 10% of the share capital) as part of a cash capital increase from authorised capital excluding subscription rights.
The new registered shares with no par value were allocated to institutional investors by way of an accelerated bookbuilding process and placed at an issue price of EUR 8.30 per new share. BRAIN's main shareholder participated in the capital increase.
Adriaan Moelker, CEO BRAIN AG, declares: “We expect that the cash inflow from the capital increase will accelerate the further development of our product pipeline. In addition, part of the proceeds will be used to finance acquisitions and the expansion of our production network.”
“We are very pleased that our investors are supporting us in the equity financing and are thus helping to drive BRAIN´s long-term growth path”, added Manfred Bender, CFO BRAIN AG.