MAUNA KEA TECHNOLOGIES At November 30, 2017, the Company had €13.1 million in available cash. This financing facility will allow Mauna Kea to potentially further strengthen its balance sheet and position the Company to accelerate investment in growth initiatives.
The CEO of the Company, acting with a delegation from the Board of Directors and in accordance with the 20th and 23rd resolutions approved by the General Meeting of Shareholders on May 3, 2017, decided today to implement this new equity financing facility.
Pursuant to the terms of the agreement, Kepler Cheuvreux, acting as financial intermediary and underwriter for the transaction, gave a full and firm commitment to subscribe for 2,250,000 shares at its own initiative over a timeframe not exceeding 24 months. The shares will be issued based on the volume-weighed average price of the trading days preceding each issuance, minus a maximum discount of 6.5%.
Assuming the equity line facility were to be used in full(1), it would enable to raise €10.7 million in financing based on the current share price(2). Subject to the contractual conditions being fulfilled, a shareholder owning 1.00% of the capital today would see that holding drop to 0.91% of capital on a non-diluted basis(3), and to 0.84% of capital on a diluted basis(4). Mauna Kea Technologies has the ability to stop this equity financing at any time.
The number of shares issued and listed under this facility shall be published in Euronext Paris market notices, and on the website of Mauna Kea Technologies.
The present issuance does not require the production of a prospectus subject to AMF approval.
Leading to the issuance of a maximum of 2,250,000 new shares
Based on the indicative volume-weighted average price of the last twenty trading days of Mauna Kea Technologies shares.
Based on the 23,147,338 shares comprising the share capital of Mauna Kea Technologies as of November 30, 2017
Under the assumption of the issuance of all 4,407,789 shares arising from the exercise of all existing dilutive instruments as of the date of the present press release (including this equity line).
Mauna Kea Technologies is a global medical device company focused on eliminating uncertainties related to the diagnosis and treatment of cancer and other diseases thanks to real time in vivo microscopic visualization. The Company's flagship product, Cellvizio, has received clearance to sell a wide range of applications in more than 40 countries, including the United States, Europe, Japan, China, Canada, Brazil and Mexico. For more information on Mauna Kea Technologies, visit www.maunakeatech.com
Mauna Kea Technologies Sacha Loiseau
CEO
investors@maunakeatech.com
United States
Zack Kubow / Lee Roth The Ruth Group
646-536-7020 / 7012
zkubow@theruthgroup.com lroth@theruthgroup.com
U.S. Media Kirsten Thomas The Ruth Group 508-280-6592
kthomas@theruthgroup.com
France and Europe NewCap - Investor Relations Florent Alba
+33 (0)1 44 71 94 94
maunakea@newcap.fr
Kepler Cheuvreux
Thierry du Boislouveau
+33 6 01 06 60 20
Thierry.du-boislouveau@keplercf.com
1
Mauna Kea Technologies SA published this content on 01 December 2017 and is solely responsible for the information contained herein.
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