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SYGNIS secures up to € 10 Million through a 3 year Standby Equity Distribution Agreement (SEDA) with Yorkville

SYGNIS Pharma AG (Frankfurt: LIO; ISIN DE0005043509; Prime Standard), a clinical stage biotech company developing innovative CNS treatments, today announced that it has entered into a 3 year standby equity distribution agreement (SEDA) with YA Global Master SPV LTD (YA Global) a fund managed by Yorkville Advisors, LLC located in New Jersey USA.

The agreement provides SYGNIS with the option to request YA Global, during the
next 36 months, to subscribe for newly issued SYGNIS shares, from the company’s authorized capital, in tranches of up to € 500,000 each. The subscription price of the new shares will be determined at 95% of the lowest volume-weighted average price of one of the five trading days following the date of the relevant draw down notice.

The total value of this equity facility aggregates to up to € 10 million, provided that the aggregate number of shares issued to YA Global shall not exceed 9,9% of SYGNIS’ share capital. Yorkville can either accumulate these shares or place them in the market. However, Yorkville is committed not to short sell or enter into any hedging transactions related to particular company stock.

Peter Willinger, CFO of SYGNIS Pharma AG noted, “This agreement is very well
suited to provide SYGNIS with financial flexibility, particularly in light of the prevailing market conditions, with dilution under our control. It gives us access, if we require it, to significant liquidity in exchange for stock placing the company in a more comfortable position from which to develop our pipeline.”

Dr. Michael J. Nowak, Head of the Healthcare Group and a Managing Director at
Yorkville Advisors, LLC, the investment manager to a family of Funds based in New Jersey, led the investment into SYGNIS Pharma AG. Dr. Nowak, stated: “Yorkville provides innovative financing tools for public technology companies. Given the large unmet medical need, the market potential and promising novel approach of SYGNIS to CNS therapeutics, we’re especially delighted to be investing in this leading German CNS player.”

Further informatio:

Dr. Franz-Werner Haas
Vice President Operations
Phone: + 49 (0) 6221 454 812
Email: franz-werner.haas(at)sygnis.de
Website address: https://www.gesundheitsindustrie-bw.de/en/article/press-release/sygnis-secures-up-to-10-million-through-a-3-year-standby-equity-distribution-agreement-seda-with-yor