DGAP-News: Successful capital increase with significant oversubscription: Appreciation of management's performance in aap's transformation process in COVID-19 times; financing secured at least until end of 2023
DGAP-News: aap Implantate AG
/ Key word(s): Capital Increase/Financing
Successful capital increase with significant oversubscription: Appreciation of management's performance in aap's transformation process in COVID-19 times; financing secured at least until end of 2023
21.10.2021 / 10:36
The issuer is solely responsible for the content of this announcement.
aap Implantate AG ("aap" or the "Company") has successfully completed the capital increase with subscription rights resolved on 27 September 2021. The order book both for placed oversubscriptions and the private placement was significantly oversubscribed, so that demand could not be fully met. In total, all 1,500,000 aap shares offered in the subscription offer were subscribed by shareholders or placed with investors by way of private placement. On the basis of the fixed subscription price of EUR 3.30 per new share, this results in maximum possible gross issue proceeds of EUR 4.95 million. After deduction of consulting fees and other costs, the Company will receive net inflows of around EUR 4.8 million in the short term.
"I am very pleased with the outcome of the capital increase and on behalf of the entire Management Board I would like to thank our existing and all new shareholders for their trust and support," says Rubino Di Girolamo, Chairman of the Management Board / CEO of aap. "We take this as a clear appreciation of the performance of the management and the employees in the transformation process of the Company in the very challenging times of the COVID-19 pandemic. We also see this result as a sign of support for the corporate strategy pursued, both in terms of short-term performance metrics and long-term value creation."
The issue proceeds from the transaction shall be used to finance the planned sales growth with a focus on the USA (especially investments in sets) and the start of the human clinical study for aap's antibacterial silver coating technology in the fourth quarter of 2021.
"The profitable and sustainable expansion of the operational LOQTEQ(R) business, especially with a view to the USA, will continue to have top priority. We will particularly keep a close eye on the factors of quality, customer satisfaction, sales strategy, optimization projects to increase efficiency and operating costs," says Agnieszka Mierzejewska, Member of the Management Board / COO of aap. "In the long term, our LOQTEQ(R) product portfolio combined with the antibacterial silver coating will give us a unique competitive position."
Based on the current and the planned further business development for the coming years, the financing of the operating business and the planned human clinical study for the antibacterial silver coating technology is secured by the net inflows from the capital measure until the end of the financial year 2023. For the following years, the Management Board expects that, if the Company continues to develop according to plan, the operating business shall generate sustainable cash flow surpluses and thus also ensure the execution of the human clinical study for the antibacterial silver coating technology.
"In the phase that is now coming, the aim is to consistently achieve the growth targets that have been set and to successively further optimize the value creation process," says Marek Hahn, Member of the Management Board / CFO of aap. "In order to make this transparent, we want to intensify communication between the management and all stakeholders of the company, as such an iterative process supports the strategy implementation within the agreed financial framework."
aap Implantate AG (ISIN DE0005066609) - General Standard/Regulated Market - All German stock markets -
About aap Implantate AG
aap Implantate AG is a globally active medical technology company based in Berlin, Germany. The Company develops, manufactures and markets products for trauma. The IP-protected portfolio includes besides the innovative anatomical plating system LOQTEQ(R) a wide range of cannulated screws. In addition, aap Implantate AG has an innovation pipeline with promising development projects such as the antibacterial silver coating technology and magnesium-based implants. These technologies address critical and unmet needs in trauma. In Germany, aap Implantate AG sells its products directly to hospitals, purchasing groups, and hospital groups, while at international level it primarily uses a broad network of distributors in around 25 countries. In the US the Company pursues a hybrid distribution strategy with its subsidiary aap Implants Inc. Distribution is carried out both through distribution agents and partnerships with global orthopedic companies. aap Implantate AG's stock is listed in the General Standard segment of Frankfurt Stock Exchange (XETRA: AAQ.DE). For more information, please visit our website at www.aap.de.
This release may contain forward-looking statements based on current experience, estimates and projections of the management board and currently available information. They are not guarantees of future performance. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. Many factors could cause the actual results, performance or achievements of aap to be materially different from those that may be expressed or implied by such statements. These factors include those discussed in aap's public reports. Forward-looking statements therefore speak only as of the date they are made. aap does not assume any obligation to update the forward-looking statements contained in this release or to conform them to future events or developments.
For queries, please contact:
aap Implantate AG; Fabian Franke; Head of Investor Relations; Lorenzweg 5; 12099 Berlin, Germany; Phone: +49 (0)30 75019 - 134; Fax: +49 (0)30 75019 - 290; Email: [email protected]
21.10.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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||aap Implantate AG
||+49 (0) 30 75 01 90
||+49 (0) 30 75 01 91 11
||Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
|EQS News ID:
|End of News
||DGAP News Service
Quelle: boersengefluester.de und Firmenangaben
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1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de
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