MISGAV, Israel & SAN FRANCISCO -- (Business Wire)
Medgenics, Inc. (NYSE MKT: MDGN and AIM: MEDU, MEDG) (the
“Company” or “Medgenics”), the developer of a novel platform technology
for the sustained production and delivery of therapeutic proteins in
patients using their own tissue, announces yesterday’s closing of an
underwritten public offering of 5,600,000 shares of common stock and
Series 2013-A warrants to purchase up to an aggregate of 2,800,000
shares of common stock. The shares and the warrants were sold together
as a fixed combination, each consisting of one share of common stock and
a warrant to purchase one-half of a share of common stock, at a price to
the public of $5.25 per fixed combination. The shares of common stock
and warrants were issued separately. The warrants have an initial
exercise price of $6.78, are currently exercisable and will expire on
February 13, 2018.
Gross proceeds to Medgenics were $29,400,000, before deducting
underwriting discounts and commissions and other offering expenses
payable by Medgenics. In addition, Medgenics granted the underwriters a
45-day option to purchase up to an aggregate of 840,000 additional
shares of common stock and/or additional warrants to purchase up to an
aggregate of 420,000 shares of common stock.
Maxim Group LLC acted as sole book-running manager for the offering.
National Securities Corporation and MLV & Co. acted as co-managers for
the offering. Nomura Code Securities Limited and SVS Securities Plc
acted as sub-agents to the offering in Europe.
The securities described above were sold by means of the Company’s
existing shelf registration statement on Form S-3, a prospectus and
related prospectus supplement, all as filed with the Securities and
Exchange Commission (the “SEC”). Copies of such documents are available,
on the SEC's website at http://www.sec.gov,
and, in addition, may be obtained from Maxim Group LLC, Equity Syndicate
Prospectus Department, 405 Lexington Avenue, 2nd Floor, New
York, NY, 10022, or by telephone at 1-212-895-3745, or by email at firstname.lastname@example.org.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there be any
sale of these securities in any state or other jurisdiction in which
such offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
state or other jurisdiction.
Medgenics is developing and commercializing Biopump™, a proprietary
tissue-based platform technology for the sustained production and
delivery of therapeutic proteins using the patient's own tissue for the
treatment of a range of chronic diseases including anemia, hepatitis and
hemophilia, among others.
This release contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, Section 21E of the Securities
Exchange Act of 1934 and as that term is defined in the Private
Securities Litigation Reform Act of 1995, which include all statements
other than statements of historical fact, including (without limitation)
those regarding the Company's financial position, its development and
business strategy, its product candidates and the plans and objectives
of management for future operations. The Company intends that such
forward-looking statements be subject to the safe harbors created by
such laws. Forward-looking statements are sometimes identified by their
use of the terms and phrases such as "estimate," "project," "intend,"
"forecast," "anticipate," "plan," "planning, "expect," "believe,"
"will," "will likely," "should," "could," "would," "may" or the negative
of such terms and other comparable terminology. All such forward-looking
statements are based on current expectations and are subject to risks
and uncertainties. Should any of these risks or uncertainties
materialize, or should any of the Company's assumptions prove incorrect,
actual results may differ materially from those included within these
forward-looking statements. Accordingly, no undue reliance should be
placed on these forward-looking statements, which speak only as of the
date made. The Company expressly disclaims any obligation or undertaking
to disseminate any updates or revisions to any forward-looking
statements contained herein to reflect any change in the Company's
expectations with regard thereto or any change in events, conditions or
circumstances on which any such statements are based. As a result of
these factors, the events described in the forward-looking statements
contained in this release may not occur.
Dr. Andrew L. Pearlman, +972 4 902 8900
Marie Fields, 212-838-3777
Adam Michael/Joanne Shears/Jamie Hooper
Code Securities (NOMAD & Joint Broker)
+44 207 776 1200
SVS Securities plc (Joint
Alex Mattey/Ian Callaway
+44 207 638 5600
Source: Medgenics, Inc.
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