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BERKELEY, Calif. and MAINZ, Germany, Dec. 16, 2024 (GLOBE NEWSWIRE) -- Mainz Biomed N.V. (NASDAQ:MYNZ) (“Mainz Biomed” or the “Company”), a molecular genetics diagnostic company specializing in the early detection of cancer, today announced the closing of its previously announced follow-on offering of 1,367,521 units, with each unit consisting of one ordinary share (or prefunded warrant in lieu thereof) one Class A warrant to purchase one ordinary share, and one Class B warrant to purchase one ordinary share for gross proceeds of approximately $8.0 million. Each unit was sold at an effective offering price of $5.85 per unit, priced at-the-market under Nasdaq rules. Each Class A warrant is immediately exercisable at an exercise price of $5.85 per share and will expire five years from the date of issuance. Each Class B warrant is immediately exercisable at an exercise price of $5.85 per share and will expire on the earlier of 30 days following receipt of results from the Company’s eAArly Detect 2 study, and one year from the date of issuance.
Maxim Group LLC acted as the sole placement agent for the offering.
The securities described above were offered pursuant to a registration statement on Form F-1, as amended (File No. 333-282993) (the “Registration Statement”), which was declared effective by the U.S. Securities and Exchange Commission (the "SEC") on December 12, 2024. The offering was made only by means of a prospectus which is a part of the Registration Statement. A final prospectus relating to the offering has been filed with the SEC. Copies of the final prospectus relating to this offering may be obtained from Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, NY 10022, at (212) 895-3745. This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
Please visit Mainz Biomed’s official website for investors at mainzbiomed.com/investors/ for more information
About Mainz Biomed NV
Mainz Biomed develops market-ready molecular genetic diagnostic solutions for life-threatening conditions. The Company’s flagship product is ColoAlert®, an accurate, non-invasive and easy-to-use, early-detection diagnostic test for colorectal cancer. ColoAlert® is marketed across Europe. The Company is currently running a pivotal FDA clinical study for US regulatory approval. Mainz Biomed’s product candidate portfolio also includes PancAlert, an early-stage pancreatic cancer screening test based on real-time Polymerase Chain Reaction-based (PCR) multiplex detection of molecular-genetic biomarkers in stool samples. To learn more, visit mainzbiomed.com.
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