Nanotechnology Now - Press Release: Nanostart holding ItN Nanovation AG to receive gross proceeds of €11 million from capital increase

Home > Press > Nanostart holding ItN Nanovation AG to receive gross proceeds of €11 million from capital increase

Abstract:
- Capital increase resolved in April 2011 subscribed to in full

- RUSNANO acquires more than 2 million ItN shares in capital increase

- RUSNANO plans to increase shareholding to between 25% and 29.9%

- ItN projects strategic growth prospects from RUSNANO investment

- Fresh funds for expansion of international business

Nanostart holding ItN Nanovation AG to receive gross proceeds of €11 million from capital increase

Frankfurt am Main / Saarbrücken | Posted on May 6th, 2011

The Nanostart (OTCQX: NASRY) holding ItN Nanovation AG (ISIN DE000A0JL461) has successfully completed its capital increase with pre-emptive subscription rights against cash contributions, generating gross income for the company of €11.0 million. A total of 2,170,865 new shares were issued at a price of €5.07, increasing the share capital of the company to currently around €11.0 million, divided into the same number of shares. The new shares are expected to be admitted to stock market trading by the end of November 2011. While a small number of shares were sought after and acquired by other existing shareholders by way of subscription and the fully allocated oversubscription, 2 million shares were acquired by the Russian state-owned company RUSNANO in the capital increase by way of indirect subscription rights. Following the entry of the capital increase in the commercial register, which is expected shortly, RUSNANO will thus have acquired almost 20% of ItN Nanovation AG's share capital at that time in the capital increase.

RUSNANO has confirmed to the company that it has agreed with other shareholders to increase its stake in the company to between 25% and 29.9% by way of purchase in the coming weeks.

RUSNANO is a Russian joint stock company that was founded in 2011 and emerged from the state company Russian Corporation of Nanotechnologies. According to its own information, the purpose of the company is to actively promote the Russian nanotech industry through co-investments in nanotechnology projects with considerable economic potential or social benefit.

The Management Board of ItN Nanovation AG expressly welcomes RUSNANO's investment wholeheartedly and anticipates further strategic growth potential as a result of its new shareholder. This is expected to lie in the Filtration product area and particularly in the Coatings product area in addressing the attractive Russian market. The Management Board also sees RUSNANO's financial commitment as a confirmation of the excellent technology foundation and strong market positioning of ItN Nanovation.

The fresh funds from the capital increase will mainly be used to forge ahead with the growth of international business.

####

About Nanostart AG
Nanostart AG (OTCQX: NASRY), is the world’s leading nanotechnology investment company. Headquartered in Frankfurt am Main, it invests venture capital in nanotechnology companies in various development phases. Investments are focused on companies in the most innovation-driven segments: cleantech, life sciences and IT/electronics. Through its wholly-owned subsidiary in Singapore, Nanostart invests in nanotechnology companies in Asia in conjunction with the government of Singapore. For more information on the company, please visit www.nanostart.de.

About ItN Nanovation:

ItN Nanovation AG (FSE: I7N) is one of the world’s top nanotechnology companies. It develops innovative ceramic products such as filter systems and coatings for major industrial customers. The company manufactures the necessary nanoscale powder in-house. ItN Nanovation’s filter products can be used for drinking water treatment and wastewater purification, as filters in the drinks industry and to separate oil and water. Nanotechnology-based ceramic coatings are used as protective and catalytic layers in a wide range of applications in various industries, from ovens through aluminum foundries to coal-fired power stations. ItN Nanovation was founded in 2000. The company’s success is based on an extensive patent portfolio combined with in-depth development and application expertise. For more information on the company, please visit www.itn-nanovation.de.

Disclaimer:

This communication does not constitute an offer to sell or a request to submit an offer to buy or subscribe to securities. No initial public offering (IPO) of securities of Nanostart AG is taking place in connection with the listing of shares in the Open Market sub-segment of the Frankfurt Stock Exchange, the “Entry Standard”. This communication does not constitute a securities prospectus. This communication and the information it contains are not meant to be directly or indirectly forwarded to or within Canada, Australia or Japan.

For more information, please click here

Contacts:
Nanostart AG
Dr. Hans Joachim Duerr
Head of Corporate Communications
Goethestrasse 26-28
D-60313 Frankfurt am Main
Germany
phone: +49 (0)69-21 93 96 111
fax: +49 (0)69-21 93 96 150
email:

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark: