euromicron AG (XTRA:EUCA) announced a private placement of 2,870,558 no-par value registered shares at a price of €3.40 per share for gross proceeds of €9,759,897.2 on July 10, 2019. The transaction will include participation from new investor Funkwerk AG (DB:FEW) for a stake of up to 28% in the company, and other existing investors. The transaction has been approved by the board of directors of the company. Out of the total gross proceeds, €7,339,020 will be added into the share capital of the company. The transaction will be completed in tranches. The company will issue 717,639 shares in its first tranche, and 2,152,919 shares in its second tranche

On the same day, the company issued 717,639 shares for proceeds of €2,439,972.6 in its first tranche. The tranche included participation from Funkwerk AG (DB:FEW). Post the first tranche, the share capital of the company increased by 10% to €20,182,308.60. The subscription period for second tranche will begin at the end of July.