Oversubscribed capital increase to pave way to profitability

  • Gross proceeds of more than one million Euros
  • CEO and middle management among investors
  • Liquidity rises to around two million Euros
  • Proceeds to promote revenues and profitability

Kleinostheim, May 19th, 2015 – curasan AG (ISIN DE0005494538), a leading specialist for medical devices in the field of bone and tissue regeneration, today successfully closed its capital increase prior to start of trading. The transaction was announced yesterday evening. All 729,746 new shares were placed at a price of EUR 1.40 with qualified investors from Germany, Austria, France and Spain. The company thus receives gross proceeds of more than one million Euros.

To not unnecessarily burden the share price of curasan during the course of the capital measure, management decided for a volume of up to ten percent of the share capital and the exclusion of shareholders’ subscription rights. ‘We are delighted by the huge interest of investors we came across. The demand could not be fully satisfied and we were oversubscribed in the end’, Michael Schlenk, CEO of Curasan, sums up the course of the transaction. ‘I would not consider though, to make use of this interest within another capital increase in the nine to twelve months ahead. Our liquidity of now around two million Euros will pave the way to operating profitability within the next one and a half to two years.’

The share placement was, for the most part, carried out by the company itself, supported by ODDO SEYDLER BANK AG. The CEO and parts of the middle management also participated in the transaction. ‘Even though I already prove my commitment to curasan by deferring my own remuneration, it was important for us to show investors that we ourselves believe in what we’ve been telling them in the past weeks’, Schlenk emphasizes.

With the proceeds of the capital increase the company plans to pursue revenue-enhancing measures on its way to profitability. ‘We will invest our resources very wisely. In the past weeks we already started to classify our core markets, identify the ideal sales channels and better profile our products accordingly.’ The Management plans to present a more extensive outlook on the measures and targets in the quarters ahead at the upcoming general meeting in June.

Upcoming capital markets events of curasan AG:

25/06/2015    Annual General Meeting 2015        Aschaffenburg