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RNS Number : 9080A

Medgenics Inc

26 March 2013

 
Press Release  26 March 2013

Medgenics Announces Exercise by Underwriters of Over-Allotment Option

Medgenics, Inc. (NYSE MKT: MDGN and AIM: MEDU, MEDG) (the "Company" or "Medgenics"), the developer of a novel platform technology for the sustained production and delivery of therapeutic proteins in patients using their own tissue, today announced that, in connection with its previously announced public offering, the underwriters have exercised their option to purchase 470,000 shares of common stock at $5.24 per share and 840,000 Series 2013-A warrants (the Warrants) at $0.01 per Warrant, which allows for the purchase of 420,000 shares of Common Stock at an initial exercise price of $6.78. The Warrants are currently exercisable and will expire February 13, 2018. Further details of the Warrants were announced in a press release on February 14, 2013.

Net proceeds to Medgenics were $2,274,000, after deducting underwriting discounts.

The securities described above were sold by means of the Company's existing shelf registration statement on Form S-3, a prospectus and related prospectus supplement, all as filed with the Securities and Exchange Commission (the "SEC"). Copies of such documents are available, on the SEC's website at http://www.sec.gov, and, in addition, may be obtained from Maxim Group LLC, Equity Syndicate Prospectus Department, 405 Lexington Avenue, 2(nd) Floor, New York, NY, 10022, or by telephone at 1-212-895-3745, or by email at syndicate@maximgrp.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, 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.

-Ends-

About Medgenics

Medgenics is developing and commercializing Biopump(TM), a proprietary tissue-based platform technology for the sustained production and delivery of therapeutic proteins using the patient's own tissue for the treatment of a range of chronic diseases including anemia, hepatitis and hemophilia, among others.

Forward-looking Statements

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and as that term is defined in the Private Securities Litigation Reform Act of 1995, which include all statements other than statements of historical fact, including (without limitation) those regarding the Company's financial position, its development and business strategy, its product candidates and the plans and objectives of management for future operations. The Company intends that such forward-looking statements be subject to the safe harbors created by such laws. Forward-looking statements are sometimes identified by their use of the terms and phrases such as "estimate," "project," "intend, " "forecast," "anticipate," "plan," "planning, "expect," "believe," "will," "will likely," "should," "could," "would," "may" or the negative of such terms and other comparable terminology. All such forward-looking statements are based on current expectations and are subject to risks and uncertainties. Should any of these risks or uncertainties materialize, or should any of the Company's assumptions prove incorrect, actual results may differ materially from those included within these forward-looking statements. Accordingly, no undue reliance should be placed on these forward-looking statements, which speak only as of the date made. The Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based. As a result of these factors, the events described in the forward-looking statements contained in this release may not occur.

For further information, contact:

 
      Medgenics, Inc.                        Phone: +972 4 902 8900 
       Dr. Andrew L. Pearlman 
       Andrew.pearlman@medgenics.com 
      LHA                                    Phone: +1 212-838-3777 
       Anne Marie Fields 
       afields@lhai.com 
      Nomura Code Securities (NOMAD/Broker)  Phone: +44 207 776 1219 
       Jonathan Senior 
       Giles Balleny 
      SVS Securities plc (Joint Broker)      Phone: +44 207 638 5600 
       Alex Mattey 
       Ian Callaway 
      Abchurch Communications                Phone: +44 207 398 7719 
       Adam Michael 
       Joanne Shears 
       Jamie Hooper 
       Jamie.hooper@abchurch-group.com

This information is provided by RNS

The company news service from the London Stock Exchange

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