CS MEDICA A/S signs LoI with investor about a directed issue of 60 MDKK at a share price of DKK 31,50 per share
CS MEDICA A/S (“CS Medica” or the “Company”) signs Letter Of Intent (LoI) with Heilongjiang FuYu ShengKun Textile Industry Co., Ltd regarding a directed issue of 60 MDKK at a share price of 31.50 DKK
Following the company’s intensified discussion with potential investors, notified the 18th of august 2022, CS MEDICA A/S has signed a letter of intent with Heilongjiang FuYu ShengKun Textile Industry Co. (”new Investor”), regarding a directed issue of 1,904,762 shares in the Company (the “Shares”), equal to 14.47% of the Company’s share capital on a non-diluted, post money basis. The Shares are subscribed at a subscription price of DKK 31.50 per share. Consequently, the New Investor shall pay a total cash amount of DKK 60,000,003 for the Shares (the “Investment”). The new Investor is a potential partner for CS MEDICA when entering the Asian market, and with this Direct Issue a closer relationship is established.
The basis for the Investor’s contemplated investment in the Company is a valuation based on the previously approved share prices at the TO series, in this case the TO3 share price, approved at the EGM the 3rd of February 2022. The Investment is conditional upon Heilongjiang FuYu ShengKun Textile Industry Co. finalizing the due diligence, without any findings, that may prevent the completion of the Investment, or that the Investor does not receive proper authorization in China to carry out the investment.
Completion of the Investment Agreement is subject to the approval on an extraordinary general meeting (the “General Meeting”).
The board of directors support the Direct issue, but the issue's implementation presupposes the approval at an extraordinary general meeting in the Company which is expected to be held later this year.
This disclosure contains information that CS MEDICA A/S is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 25-08-2022 17:59 CET.