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Exonhit cuts subscription price for capital increase to EUR1.90 p/s.

M2 PHARMA-July 25, 2011-Exonhit cuts subscription price for capital increase to EUR1.90 p/s(C)2011 M2 COMMUNICATIONS

25 July 2011 - French biotechnology company Exonhit (EPA: ALEHT) said on Friday it has fixed the subscription price for its capital hike to EUR1.90 (USD2.72) per share instead of EUR2 envisaged previously.

The other details concerning the capital hike remain unchanged, Exonhit added. Thus, the company still hopes to secure EUR1.3m in fresh funds, which may be increased to EUR1.495m in case the greenshoe option is exercised.

The subscription period started on 8 July and will end on 7 September 2011. Exonhit has reserved the right to close the operation earlier than expected if the sum of EUR1.3m is reached before 7 September.

During the capital increase, the firm will issue 684,210 new shares, which may be raised up to 786,841 shares if the greenshoe option is exercised.

(EUR1 = USD1.436)

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Publication:M2 Pharma
Date:Jul 25, 2011
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