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Polyphor AG / Key word(s): Merger/Financing
Ad hoc announcement pursuant to Art. 53 LR
Polyphor to inform about the financing of its merger partner EnBiotix
Polyphor AG (SIX: POLN) and EnBiotix Inc. today announced that EnBiotix has completed a convertible debenture raise of USD 11 million to finance its future operations. With this financing the last major step towards the closing of the merger between Polyphor and EnBiotix has been made and the closing is expected to take place before year end 2021. Upon completion of the merger transaction, Polyphor and EnBiotix will merge, whereby Polyphor will acquire all of the outstanding capital stock of EnBiotix in exchange for around 35.3 million shares of Polyphor common stock. The combined entity will be renamed Spexis AG. Additional information can be found via press release issued by EnBiotix (http://www.enbiotix.com/media/pressreleases/).
"We are very pleased that we have now completed this last and important step catalyzing the closing of the business combination of EnBiotix and Polyphor to create Spexis", said Jeffrey D. Wager, M.D., Chairman and Chief Executive Officer of EnBiotix. "We believe that Spexis will pursue a unique position as a rare disease and oncology company and look very much forward to generating a powerful platform for pipeline and corporate development."
End of ad hoc announcement
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