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Mainz Biomed Announces Pricing of $4.0 Million Follow-On Offering of Ordinary Shares and Warrants

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Mainz Biomed (NASDAQ:MYNZ) has announced the pricing of a $4.0 million follow-on offering, consisting of 2,000,000 units priced at $2.00 per unit. Each unit includes one ordinary share (or pre-funded warrant), one Series A warrant, and one Series B warrant to purchase ordinary shares. The Series A warrants have a 5-year term, while Series B warrants expire either 30 days after eAArly Detect 2 study results or one year from issuance. Both warrant series are immediately exercisable at $2.00 per share. Additionally, the company has amended previous December 2024 warrants, reducing their exercise price to $2.00 for both Series A (1,367,521 shares) and Series B (1,367,521 shares). Maxim Group LLC is serving as the sole placement agent, with the offering expected to close around May 21, 2025.
Mainz Biomed (NASDAQ:MYNZ) ha annunciato il prezzo di un'offerta secondaria da 4,0 milioni di dollari, composta da 2.000.000 di unità al prezzo di 2,00 dollari ciascuna. Ogni unità comprende un'azione ordinaria (o un warrant pre-finanziato), un warrant di Serie A e un warrant di Serie B per l'acquisto di azioni ordinarie. I warrant di Serie A hanno una durata di 5 anni, mentre i warrant di Serie B scadono 30 giorni dopo i risultati dello studio eAArly Detect 2 o un anno dalla data di emissione. Entrambe le serie di warrant sono esercitabili immediatamente al prezzo di 2,00 dollari per azione. Inoltre, la società ha modificato i warrant precedenti con scadenza dicembre 2024, riducendo il prezzo di esercizio a 2,00 dollari sia per la Serie A (1.367.521 azioni) che per la Serie B (1.367.521 azioni). Maxim Group LLC agisce come unico agente di collocamento, con la chiusura dell'offerta prevista intorno al 21 maggio 2025.
Mainz Biomed (NASDAQ:MYNZ) ha anunciado el precio de una oferta secundaria de 4,0 millones de dólares, que consiste en 2.000.000 de unidades a 2,00 dólares por unidad. Cada unidad incluye una acción ordinaria (o un warrant prefinanciado), un warrant Serie A y un warrant Serie B para comprar acciones ordinarias. Los warrants Serie A tienen un plazo de 5 años, mientras que los Serie B expiran 30 días después de los resultados del estudio eAArly Detect 2 o un año desde la emisión. Ambas series de warrants son ejercitables inmediatamente a 2,00 dólares por acción. Además, la compañía ha modificado los warrants anteriores de diciembre de 2024, reduciendo su precio de ejercicio a 2,00 dólares para las Series A (1.367.521 acciones) y B (1.367.521 acciones). Maxim Group LLC actúa como agente colocador exclusivo, y se espera que la oferta cierre alrededor del 21 de mayo de 2025.
Mainz Biomed (NASDAQ:MYNZ)는 400만 달러 규모의 후속 공모 가격을 발표했으며, 1단위당 2.00달러에 2,000,000단위로 구성됩니다. 각 단위는 보통주 1주(또는 선납 워런트 1개), 시리즈 A 워런트 1개, 시리즈 B 워런트 1개를 포함하며, 보통주를 구매할 수 있습니다. 시리즈 A 워런트는 5년 만기이며, 시리즈 B 워런트는 eAArly Detect 2 연구 결과 발표 후 30일 또는 발행일로부터 1년 후 만료됩니다. 두 워런트 시리즈 모두 주당 2.00달러에 즉시 행사 가능합니다. 또한, 회사는 2024년 12월 만기 워런트의 행사가격을 시리즈 A(1,367,521주)와 시리즈 B(1,367,521주) 모두 2.00달러로 인하하는 수정안을 발표했습니다. Maxim Group LLC가 단독 배정 대리인으로 참여하며, 공모는 2025년 5월 21일경 마감될 예정입니다.
Mainz Biomed (NASDAQ:MYNZ) a annoncé le prix d'une offre secondaire de 4,0 millions de dollars, composée de 2 000 000 d'unités au prix de 2,00 dollars chacune. Chaque unité comprend une action ordinaire (ou un warrant préfinancé), un warrant de série A et un warrant de série B permettant d'acheter des actions ordinaires. Les warrants de série A ont une durée de 5 ans, tandis que ceux de série B expirent soit 30 jours après les résultats de l'étude eAArly Detect 2, soit un an après leur émission. Les deux séries de warrants sont immédiatement exerçables au prix de 2,00 dollars par action. De plus, la société a modifié les warrants antérieurs arrivant à échéance en décembre 2024, en réduisant leur prix d'exercice à 2,00 dollars pour les séries A (1 367 521 actions) et B (1 367 521 actions). Maxim Group LLC agit en tant qu'agent de placement unique, la clôture de l'offre étant prévue aux alentours du 21 mai 2025.
Mainz Biomed (NASDAQ:MYNZ) hat die Preisfestsetzung für ein Folgeangebot in Höhe von 4,0 Millionen US-Dollar bekannt gegeben, das aus 2.000.000 Einheiten zu je 2,00 US-Dollar besteht. Jede Einheit beinhaltet eine Stammaktie (oder einen vorfinanzierten Warrant), einen Serie-A-Warrant und einen Serie-B-Warrant zum Erwerb von Stammaktien. Die Serie-A-Warrants haben eine Laufzeit von 5 Jahren, während die Serie-B-Warrants entweder 30 Tage nach den Ergebnissen der eAArly Detect 2-Studie oder ein Jahr nach Ausgabe verfallen. Beide Warrants sind sofort zum Preis von 2,00 US-Dollar pro Aktie ausübbar. Zusätzlich hat das Unternehmen die zuvor für Dezember 2024 ausgegebenen Warrants geändert und den Ausübungspreis für Serie A (1.367.521 Aktien) und Serie B (1.367.521 Aktien) auf 2,00 US-Dollar gesenkt. Maxim Group LLC fungiert als alleiniger Platzierungsagent, und der Abschluss des Angebots wird für den 21. Mai 2025 erwartet.
Positive
  • Secured additional $4.0 million in gross proceeds through the offering
  • Warrant amendment agreement could facilitate easier exercise of existing warrants
Negative
  • Significant dilution potential from new share issuance and warrants
  • Low offering price at $2.00 per unit indicates weak market position
  • Additional dilution risk from repricing of December 2024 warrants

Insights

Mainz Biomed's $4M offering at $2 per unit suggests cash needs but includes warrant incentives for potential additional capital.

Mainz Biomed's $4 million follow-on offering represents a significant capital raise for this cancer diagnostics company, though the $2.00 per unit pricing structure warrants close attention. The company is issuing 2 million units with a complex structure including one share plus two separate warrants per unit. Most notably, each unit is priced at just $2.00, and both accompanying warrants also carry the same $2.00 exercise price.

The offering's structure suggests urgent capital needs. The company is also amending previously issued warrants from December 2024, reducing their exercise price to match this offering at $2.00. This repricing of existing warrants indicates the company is providing additional incentives to attract capital, which typically signals financial pressure.

The Series B warrants have an unusual expiration trigger tied to the company's eAArly Detect 2 study results, creating a potential catalyst for warrant exercise within 30 days of those results. This structure gives investors a binary option based on study outcomes, potentially generating additional capital if results are positive, while limiting downside if results disappoint.

For existing shareholders, this offering will cause immediate dilution, with the potential for significant additional dilution if the warrants are exercised. The pricing and structure suggest the company faced challenges raising capital on more favorable terms, reflecting investor concern about its near-term prospects or cash burn rate.

BERKELEY, Calif. and MAINZ, Germany, May 19, 2025 (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 pricing of a follow-on offering of 2,000,000 units, with each unit consisting of one ordinary share (or pre-funded warrant in lieu thereof), one Series A warrant to purchase one ordinary share, and one Series B warrant to purchase one ordinary share for gross proceeds of approximately $4.0 million. Each unit is being sold at an effective offering price of $2.00 per unit. Each Series A warrant will be immediately exercisable at an exercise price of $2.00 per share and will expire five years from the date of issuance. Each Series B warrant will be immediately exercisable at an exercise price of $2.00 per share and will expire on the earlier of (i) 30 days following receipt of results from the Company’s eAArly Detect 2 study, and (ii) one year from the date of issuance.

Maxim Group LLC is acting as the sole placement agent for the offering. The offering is expected to close on or about May 21, 2025, subject to customary closing conditions.

The Company has also entered into a Warrant Amendment Agreement with the investor to reduce the effective strike price of both the Series A Warrants and Series B Warrants previously issued by the Company on December 12, 2024 (the “December Series A Warrants” and the “December Series B Warrant” respectively). Pursuant to the agreement, the strike prices of outstanding December Series A Warrants to purchase an aggregate of 1,367,521 of the Company's ordinary shares and the strike price of the December Series B warrants to purchase an aggregate of 1,367,521 of the Company's ordinary shares will be reduced to an amended exercise price of $2.00.

The newly issued securities described above are being offered pursuant to a registration statement on Form F-1, as amended (File No. 333-287249) (the “Registration Statement”), which was declared effective by the Securities and Exchange Commission (the “SEC”) on May 16, 2025. The offering is being made only by means of a prospectus which is a part of the Registration Statement. A final prospectus relating to the offering will be 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 clinical study to prepare for its pivotal FDA clinical study and 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.

For media inquiries

MC Services AG
Maximilian Schur / Simone Neeten
+49 211 529252 20
mainzbiomed@mc-services.eu

For investor inquiries, please contact info@mainzbiomed.com

Forward-Looking Statements
Certain statements made in this press release are “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “anticipate”, “believe”, “expect”, “estimate”, “plan”, “outlook”, and “project” and other similar expressions or the negative of such expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements reflect the current analysis of existing information and are subject to various risks and uncertainties. As a result, caution must be exercised in relying on forward-looking statements. Due to known and unknown risks, actual results may differ materially from the Company’s expectations or projections. The following factors, among others, could cause actual results to differ materially from those described in these forward-looking statements: (i) the failure to meet projected development and related targets; (ii) changes in applicable laws or regulations; (iii) the effect of the COVID-19 pandemic on the Company and its current or intended markets; and (iv) other risks and uncertainties described herein, as well as those risks and uncertainties discussed from time to time in other reports and other public filings with the Securities and Exchange Commission (the “SEC”) by the Company. Additional information concerning these and other factors that may impact the Company’s expectations and projections can be found in its initial filings with the SEC, including its annual report on Form 20-F filed on April 9, 2024. The Company’s SEC filings are available publicly on the SEC’s website at www.sec.gov. Any forward-looking statement made by us in this press release is based only on information currently available to Mainz Biomed and speaks only as of the date on which it is made. Mainz Biomed undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise, except as required by law.


FAQ

What is the size and price of Mainz Biomed's (MYNZ) May 2025 follow-on offering?

Mainz Biomed's follow-on offering consists of 2,000,000 units priced at $2.00 per unit, raising approximately $4.0 million in gross proceeds.

What are the terms of MYNZ's Series A and Series B warrants in the May 2025 offering?

Series A warrants have a 5-year term and $2.00 exercise price. Series B warrants expire in either 30 days after eAArly Detect 2 study results or one year, also with a $2.00 exercise price.

How many December 2024 warrants were repriced in MYNZ's warrant amendment?

The amendment repriced 1,367,521 December Series A warrants and 1,367,521 December Series B warrants to an exercise price of $2.00.

When is MYNZ's May 2025 follow-on offering expected to close?

The offering is expected to close on or about May 21, 2025, subject to customary closing conditions.
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