Mauna Kea announced on Thursday that it had emerged from the safeguard procedure that the medical device manufacturer had voluntarily initiated last March, a favorable development that will enable it to quickly launch a capital increase of at least €5 million.

The inventor of 'Cellvizio', a real-time in vivo cellular imaging platform that enables doctors to improve the accuracy of their diagnoses, said that the Paris Economic Court yesterday approved its safeguard plan, which was presented at a hearing on October 27.

This court decision, which confirms the approval of the plan by creditors and shareholders, will enable the group to end the safeguard procedure that was initiated on March 31 and to immediately proceed with its reserved capital increase project, the terms of which were detailed last month.

In a press release, Mauna Kea emphasizes that Sacha Loiseau, its chairman and CEO, has committed to participating in the capital increase to the tune of €100,000.

The transaction, which will take the form of a share issue with share subscription warrants (ABSA) at a unit price of €0.0973, has already secured its minimum amount, the company said.

An offer aimed at individual investors will also be made via the PrimaryBid platform.

In addition, trading in the shares has been suspended for the session on Thursday, November 13, to ensure "the smooth running of operations," said Mauna Kea, whose share price has fallen 41% this year.