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MagForce AG extends EUR 5.0 million Convertible Notes agreement with Lansdowne Investment Company Cyprus Limited and issues additional Convertible Notes in the amount of EUR 2.0 million

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MagForce AG / Key word(s): Corporate Action
MagForce AG extends EUR 5.0 million Convertible Notes agreement with Lansdowne Investment Company Cyprus Limited and issues additional Convertible Notes in the amount of EUR 2.0 million

25-Feb-2022 / 22:19 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Disclosure of an insider information acc. to Article 17 MAR of the Regulation (EU) No 596/2014

MagForce AG extends EUR 5.0 million Convertible Notes agreement with Lansdowne Investment Company Cyprus Limited and issues additional Convertible Notes in the amount of EUR 2.0 million

Berlin, February 25, 2022 - MagForce AG (Frankfurt, Scale, Xetra: MF6, ISIN: DE000A0HGQF5), a leading medical device company in the field of nanomedicine focused on oncology, today extended a Convertible Note agreement in the amount of EUR 5.0 million with Lansdowne Investment Company Cyprus Limited ("Lansdowne") and issues additional EUR 2.0 million under the Convertible Notes to fund further expansion of NanoTherm Therapy. The aggregate EUR 7.0 million Convertible Notes have a term of 12 months and bear 12 percent interest. At the sole discretion of Lansdowne the notes can be converted into shares of Magforce AG at a price of EUR 2.75 or be exchanged for shares of MagForce USA, Inc. at a share price of EUR 11.00 per share, and/or to be paid in cash.

As permitted by the authorization of the MagForce Annual General Meeting of August 12, 2021, the additional convertible notes are issued without subscription rights for existing shareholders.

- End of Insider Information -

Contact:
MagForce AG, Max-Planck-Straße 3, 12489 Berlin
Barbara von Frankenberg
Vice President Communications & Investor Relations
T +49-30-308380-77
E-Mail: bfrankenberg@magforce.com

Disclaimer

This release may contain forward-looking statements and information which may be identified by formulations using terms such as "expects", "aims", "anticipates", "intends", "plans", "believes", "seeks", "estimates" or "will". Such forward-looking statements are based on our current expectations and certain assumptions, which may be subject to a variety of risks and uncertainties. The results actually achieved by MagForce AG may substantially differ from these forward-looking statements. MagForce AG assumes no obligation to update these forward-looking statements or to correct them in case of developments, which differ from those, anticipated.

25-Feb-2022 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

MagForce AG

Max-Planck-Straße 3

12489 Berlin

Germany

Phone:

+49 (0)30 308 380 0

Fax:

+49 (0)30 308 380 99

E-mail:

info@magforce.com

Internet:

www.magforce.com

ISIN:

DE000A0HGQF5

WKN:

A0HGQF

Indices:

Scale 30

Listed:

Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Stuttgart, Tradegate Exchange

EQS News ID:

1289205


 

End of Announcement

DGAP News Service

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