DGAP-Adhoc: MagForce AG announces successful capital increase of the subsidiary MagForce USA, Inc.

Berlin, Germany and Nevada, USA, August 8, 2018 - MagForce AG (Frankfurt, Scale, XETRA: MF6, ISIN: DE000A0HGQF5), a leading medical device company in the field of nanomedicine focused on oncology, announces the successful completion of a capital increase of its subsidiary MagForce USA, Inc. The capital increase was carried out by exercising 700,000 subscription rights of MagForce USA, Inc. and by issuing 166,666 new shares in MagForce USA, Inc. The subscription rights were issued in 2014 to US investors as part of a growth financing round and had a term limit of four years. There are no outstanding subscription rights remaining after the exercise. The issuance of a total of 866,666 new shares will generate gross proceeds of approximately USD 9.0 million for MagForce USA, Inc. The new  MagForce USA, Inc. shares were subscribed by a new US investor.

Following the issue of the new shares, MagForce AG holds 67.9 percent of the shares in MagForce USA, Inc. and will continue to retain a majority ownership position in the US subsidiary.

The proceeds from the capital increase will be used to finance the initiated pivotal clinical trial in the USA with NanoTherm Therapy for focal tumor ablation in intermediate risk prostate cancer and associated business operations.