IRVINE, CA, and HERSTAL, BELGIUM - November 5, 2014 - MDxHealth SA (Euronext Brussels: MDXH), a leading molecular diagnostic company that develops and commercializes epigenetic tests to improve the diagnosis and treatment of cancer patients, announced today that it has successfully raised € 12,330,000.00 (US$ 15,429,762.00[1]) in gross proceeds by means of a private placement of 3,425,000 new shares with a group of institutional, qualified and professional investors in and outside Belgium at an issue price of € 3.60 (or US$ 4.51) per share. The closing price of the MDxHealth share on Euronext Brussels on November 4, 2014, before the launch of the private placement was € 3.599 per share. The placement was more than twice oversubscribed by a broad and international range of institutional investors. Petercam NV/SA acted as Sole Lead Manager and Book Runner in the private placement.
"We are delighted to have raised this additional funding from a mix of new investors who share our belief in the commercial potential of our world leading DNA methylation platform," said Dr. Jan Groen, Chief Executive Officer of MDxHealth. "In combination with our existing cash position, these funds allow us to support and scale-up MDxHealth's U.S.-based managed care and related healthcare reimbursement efforts, together with its sales and marketing efforts. In addition, it will allow us to accelerate product development and finance general corporate purposes."
The payment and delivery of the new shares is expected to take place on November 7, 2014, at which date the new shares are also expected to be admitted to listing. The new shares to be issued will have the same rights and benefits as, and rank pari passu in all respects with, the existing and outstanding shares of MDxHealth at the moment of their issuance and will be entitled to distributions in respect of which the relevant record date or due date falls on or after the date of issue of the new shares. As a result of the issuance of new shares, the company's share capital will increase from € 27,321,762.02 to € 30,053,884.52 and its issued and outstanding shares will increase by 10 % from 34,251,303 to 37,676,303 ordinary shares.