The capital increase of 210,000 new stocks which opened on October 22nd, 2019 has been successfully filled by existing and new investors at a price of €5.40 per share, corresponding to 10% of the share capital.
We can report full placement of the resolved capital increase from authorized capital excluding subscription rights. Requests also exceeded the maximum volume of the capital increase. This demand can only be taken into account in future corporate actions.
Among the investors are Dr. Herbert Leifker, former Managing Director and Chief Commercial Officer of Unitymedia, and Michael Ganser, former CEO of Cisco Germany. They will both be working closely with the company with the latter, Mr. Ganser set to join the Advanced Blockchain AG Supervisory Board.
The gross proceeds from the capital increase, approximately €1.1 million, are intended to serve the further expansion of the company and the further strengthening of the company's equity base.
Advanced Blockchain AG is a German publicly listed Blockchain-as-a-Service company based in Berlin. We build next generation blockchain infrastructure and applications for the world's largest companies and we're the first blockchain company to be listed on the Xetra (Frankfurt) stock exchange.