Medgenics Inc Medgenics Announces Exercise by Underwriters (9080A)
March 26 2013 - 9:31AM
UK Regulatory
TIDMMEDG TIDMMEDU
RNS Number : 9080A
Medgenics Inc
26 March 2013
Press Release 26 March 2013
Medgenics Announces Exercise by Underwriters of Over-Allotment
Option
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, today announced that,
in connection with its previously announced public offering, the
underwriters have exercised their option to purchase 470,000 shares
of common stock at $5.24 per share and 840,000 Series 2013-A
warrants (the Warrants) at $0.01 per Warrant, which allows for the
purchase of 420,000 shares of Common Stock at an initial exercise
price of $6.78. The Warrants are currently exercisable and will
expire February 13, 2018. Further details of the Warrants were
announced in a press release on February 14, 2013.
Net proceeds to Medgenics were $2,274,000, after deducting
underwriting discounts.
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, 2(nd) Floor, New York, NY, 10022, or by telephone at
1-212-895-3745, or by email at syndicate@maximgrp.com.
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.
-Ends-
About Medgenics
Medgenics is developing and commercializing Biopump(TM), 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.
Forward-looking Statements
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.
For further information, contact:
Medgenics, Inc. Phone: +972 4 902 8900
Dr. Andrew L. Pearlman
Andrew.pearlman@medgenics.com
LHA Phone: +1 212-838-3777
Anne Marie Fields
afields@lhai.com
Nomura Code Securities (NOMAD/Broker) Phone: +44 207 776 1219
Jonathan Senior
Giles Balleny
SVS Securities plc (Joint Broker) Phone: +44 207 638 5600
Alex Mattey
Ian Callaway
Abchurch Communications Phone: +44 207 398 7719
Adam Michael
Joanne Shears
Jamie Hooper
Jamie.hooper@abchurch-group.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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