Viromed Medical AG has successfully completed a capital increase, placing 450,000 new registered no-par value shares at EUR 4.50 per share, raising gross proceeds of approximately EUR 2 million. The funds are earmarked for the company's working capital, according to the announcement distributed via NEWMEDIAWIRE. The capital increase, which was announced earlier today and completed shortly thereafter, was executed using the Authorized Capital 2025 and excluded shareholders' subscription rights. Subject to registration in the commercial register, the share capital will rise from EUR 21,250,000 to EUR 21,700,000.
The completion of this capital increase is significant because it provides Viromed with immediate liquidity to support its ongoing operations and strategic initiatives. The company, listed on the stock exchange since October 2022, focuses on the development, manufacture, and distribution of medical products, with a particular emphasis on innovative cold plasma technology for medical applications through its wholly owned subsidiary, Viromed Medical GmbH. The fresh capital will bolster the company's working capital position, which is essential for sustaining operations, advancing product development, and expanding market reach.
Viromed has established a broad customer base in the DACH region (Germany, Austria, and Switzerland) and beyond. The company aims to further advance the use of cold plasma technology in medicine in the coming years and to realize the corresponding growth potential. Cold plasma technology is an emerging field with applications in wound healing, disinfection, and other medical treatments, and Viromed's focus on this area positions it at the forefront of innovation. The additional working capital will enable the company to invest in research and development, marketing, and sales efforts to capitalize on these opportunities.
The decision to exclude shareholders' subscription rights and utilize authorized capital reflects a targeted approach to raise funds quickly and efficiently. By placing shares at EUR 4.50, Viromed has secured capital without the lengthy process of a rights offering. This move underscores the company's commitment to executing its business plan and delivering value to shareholders over the long term. Further details about Viromed Medical AG can be found on the company's website at www.viromed-medical-ag.de.
The capital increase comes at a time when the medical technology sector is increasingly recognizing the potential of cold plasma. Viromed's successful placement of shares indicates investor confidence in its business model and growth prospects. With the additional funds, the company is better positioned to navigate the competitive landscape and pursue its goal of advancing cold plasma technology in medicine. The registration of the capital increase in the commercial register is expected to be a formality, after which the new shares will be fully integrated into the company's share capital.
