BRAIN AG wins new long-term oriented investor by way of a capital increase
- DAH Beteiligungs GmbH is new, long-term oriented investor of BRAIN AG supporting its growth strategy
- Capital increase by approximately 10% from Authorized Capital
- Proceeds from capital increase planned to be used for new acquisition
Today, the bioeconomy company BRAIN AG has successfully implemented a capital increase against contributions in cash, partially using its Authorized Capital. A total of 1,641,434 new registered no-par-value shares („New Shares“), corresponding to approximately 10% of the current share capital, was subscribed by one long-term oriented investor; the DAH Beteiligungs GmbH from Mannheim, Germany.
Dr Juergen Eck, CEO of BRAIN AG, says: „In our discussions with Daniel Hopp, the long-term nature and sustainability of his investment strategy was expressed. The investment of DAH Beteiligungs GmbH, coming on board about one and a half years after our successful IPO, is another important milestone in our growth strategy. We enable the biologisation of classical industrial processes and the corresponding development of new products. The aim is to reduce the dependency on valuable, limited raw materials in favour of more sustainability, nature and climate protection. Examples of this are our DOLCE program for the reduction of sugar consumption, our BioXtractor system for the extraction of precious metals from waste streams, or the use of the greenhouse gas carbon dioxide as a raw material.“
Due to the capital increase, the company’s share capital will increase from currently EUR 16,414,348.00 to EUR 18,055,782.00. The gross proceeds for BRAIN from this transaction will amount to approximately EUR 28 million.Frank Goebel, CFO of BRAIN AG, says: „BRAIN has been pursuing a successful growth strategy for several years. The goal is, in addition to intensifying research collaborations with industrial partners, to develop and market our own biotechnological product candidates. In line with this strategy, the proceeds from the capital increase shall primarily be used to finance small and medium-sized acquisitions. Consequently, also our shareholders will benefit from our sustainable corporate strategy.”
Ad hoc release capital increase:www.brain-biotech.de/en/investor-relations/financial-news/adhoc-news