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Home>Mauna Kea Technologies Renews Its Equity Financing Facility to Support Its Development

Mauna Kea Technologies Renews Its Equity Financing Facility to Support Its Development

Mauna Kea Technologies Renews Its Equity Financing Facility to Support Its Development

10/06/2017

Mauna Kea Technologies Renews Its Equity Financing Facility to Support Its Development

Regulatory News:

Mauna Kea Technologies (Paris:MKEA) (OTCQX:MKEAY) (Euronext: MKEA, OTCQX: MKEAY) inventor of Cellvizio®, the multidisciplinary confocal laser endomicroscopy platform, today announces the implementation of an equity financing facility with Kepler Cheuvreux. This will allow the Company to complete small successive capital increases at its own pace and timing. Mauna Kea secured its prior equity financing facility, also with Kepler Cheuvreux, in November 2016.

The CEO of the Company, acting with a delegation from the Board and in accordance with the 21st resolution approved by the General Meeting of Shareholders on May 3, 2017, decided today to implement this 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 2,100,000 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 €5.7 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.

Kepler Cheuvreux being a financial intermediary and a guarantor of the transaction, the shares will be issued based on the volume-weighted average price of the trading days preceding the issue, with a maximum discount of 6.5%.

At September 30, 2017, the Company had €7.0 million in available cash.

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