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    MDXH   BE0003844611


Real-time Euronext Bruxelles  -  11:35 2022-08-09 am EDT
0.7900 EUR   -1.25%
08/03MDxHealth Agrees to Buy Exact Sciences' Prostate Cancer Unit for Up to $100 Million
08/03Belgium's MDxHealth To Buy Exact Sciences' Prostrate Cancer Test For $100 Million
08/02MDXHEALTH : Acquires Oncotype DX« GPS Prostate Cancer Business from Exact Sciences and Reports Preliminary Half Year 2022 Results - Form 6-K
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MDxHealth : Successfully Completes a EUR 25.0 Million (USD 30.4 Million) (1) Capital Increase

02/22/2021 | 09:12am EDT

IRVINE - MDxHealth SA (Euronext Brussels: MDXH) (the 'Company' or 'MDxHealth'), a commercial-stage innovative molecular diagnostics company, announces the successful pricing of its capital increase with the offering of new ordinary shares.

The Company raised EUR 25.0 million (USD 30.4 million)(1) in gross proceeds by means of a private placement of 27,777,777 new shares (being approximately 30.63% of the Company's outstanding shares) at an issue price of EUR 0.90 per share through an accelerated bookbuild offering (the 'Capital Increase').

Michael McGarrity, CEO of MDxHealth, said: 'We are pleased to have secured additional funding from a high quality mix of U.S. and European investors. This financing allows us to continue to advance our focus on commercial execution, operating discipline and advancing our menu in the diagnosis and treatment of prostate cancer. We look forward to providing our full year 2020 operating and financial results and a view forward for 2021 on 3 March 2021.'

The net proceeds of the Capital Increase will be used to drive further commercial focus and execution, to advance the Company's corporate strategy and for general corporate purposes.

The payment and delivery of the new shares to be issued in the Capital Increase is expected to take place on 26 January 2021.

KBC Securities is acting as Sole Global Coordinator and together with Oppenheimer & Co. as Joint Bookrunners for the Capital Increase.

As announced earlier, Biovest, Valiance and MVM (the 'Pre-Committing Shareholders'), each an important shareholder of the Company, pre-committed to submit orders in the offering. In line with these pre-commitments, 13,386,111 shares were allocated to the Pre-Committing Shareholders.

The new shares to be issued will have the same rights and benefits as, and rank pari passu in all respects, including as to entitlement to dividends and distributions, 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.

18,138,288 of the new shares (representing 20% of the currently outstanding shares of the Company already admitted to listing and trading on Euronext Brussels) will upon their issuance be immediately admitted to listing and trading on the regulated market of Euronext Brussels. The Pre-Committing Shareholders agreed that the Company and the Joint Bookrunners will have the ability to allocate to the Pre-Committing Shareholders 9,639,489 new shares that shall not be immediately admitted to listing and trading upon their issuance. The Company will apply to Euronext Brussels for the admission to trading and listing of those unlisted new shares, as soon as practicable after their issuance and which shall be subject to the preparation of a listing prospectus.

As a result of the issuance of new shares, the Company's share capital will increase from EUR 68,998,734.95 to EUR 90,132,067.69 and its issued and outstanding shares will increase from 90,691,449 to 118,469,226 ordinary shares, representing an increase of the share capital and number of shares of 30.63%.

In the context of the Capital Increase, MDxHealth has agreed to a market customary 180-days standstill period on future share issuances, waivable by the Joint Bookrunners and subject to customary exceptions.

About MDxHealth

MDxHealth is a commercial-stage, innovative healthcare company that provides actionable molecular diagnostic information to personalize the diagnosis and treatment of cancer. The Company's tests are based on proprietary genetic, epigenetic (methylation) and other molecular technologies and assist physicians with the diagnosis of urologic cancers, prognosis of recurrence risk, and prediction of response to a specific therapy. The Company's European headquarters are in Herstal, Belgium, with laboratory operations in Nijmegen, The Netherlands, and US headquarters and laboratory operations based in Irvine, California.

Important information

The MDxHealth logo, MDxHealth, ConfirmMDx and SelectMDx are trademarks or registered trademarks of MDxHealth SA (the 'Company' or 'MDxHealth'). All other trademarks and service marks are the property of their respective owners.

This press release contains forward-looking statements and estimates with respect to the anticipated future performance of MDxHealth and the market in which it operates. Such statements and estimates are based on assumptions and assessments of known and unknown risks, uncertainties and other factors, which were deemed reasonable but may not prove to be correct. Actual events are difficult to predict, may depend upon factors that are beyond the Company's control, and may turn out to be materially different. MDxHealth expressly disclaims any obligation to update any such forward-looking statements in this release to reflect any change in its expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based unless required by law or regulation. You should not place undue reliance on forward-looking statements, which reflect the opinions of MDxHealth only as of the date of this press release.

The information contained in this announcement is for general information only and does not purport to be full or complete. This announcement does not constitute, or form part of, an offer to sell or issue, or any solicitation of an offer to purchase or subscribe for shares, and any purchase of, subscription for or application for, shares. This announcement and the information contained herein are not for publication, distribution or release in, or into, directly or indirectly, the United States of America, Australia, Canada, Japan, South Africa or any other jurisdiction where to do so would be prohibited by applicable law or require registration thereof in, such jurisdiction. Any persons reading this announcement should inform themselves of and observe any such restrictions.

This announcement is not for distribution, directly or indirectly, in or into the United States. It does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended from time to time (the 'U.S. Securities Act'), and the securities may not be offered or sold in the United States (as defined in Regulation S under the U.S. Securities Act) unless these securities are registered under the U.S. Securities Act, or an exemption from the registration requirements of the U.S. Securities Act is available. The Company and its affiliates have not registered, and do not intend to register, any portion of the offering of the securities concerned in the United States, and do not intend to conduct a public offering of securities in the United States.

Any offer of securities to which this announcement relates is only addressed to and directed at persons in the United Kingdom and member states of the European Economic Area (the 'EEA') (each a 'Member State') who are 'qualified investors' within the meaning of Article 2(e) of Regulation 2017/1129 of the European Parliament and of the Council of 14 June 2017 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market, and repealing Directive 2003/71/EC, as amended from time to time, to the extent implemented in the relevant Member State of the EEA) and any implementing measure in each relevant Member State of the EEA or, for the United Kingdom, as it forms part of retained EU law as defined in the EU (Withdrawal) Act 2018 (the 'Prospectus Regulation') ('Qualified Investors'), or such other investors as shall not constitute an offer to the public within the meaning of Article 3.1 of the Prospectus Regulation. Each person in the United Kingdom or a Member State who initially acquires any of the Company's securities or to whom any offer of the Company's securities may be made and, to the extent applicable, any funds on behalf of which such person is acquiring the Company's securities that are located in the United Kingdom or a Member State will be deemed to have represented, acknowledged and agreed that it is a Qualified Investor.

In addition, any offer of securities to which this announcement relates is in the United Kingdom, being distributed only to, and is directed only at, (i) persons who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended from time to time (the 'Order'), (ii) high net worth entities etc. falling within Article 49(2)(a) to (d) of the Order, and (iii) any other person to whom it may otherwise lawfully be communicated (all such persons together being referred to as 'relevant persons'). The offering of securities to which this announcement relates will only be available to, and any invitation, offer or agreement to subscribe for, purchase, or otherwise acquire securities will be engaged in only with relevant persons. Any person who is not a relevant person should not act or rely on this announcement or any of its contents.

This communication is not a prospectus for the purposes of the Prospectus Regulation. This communication cannot be used as basis for any investment agreement or decision. Acquiring investments to which this announcement relates may expose an investor to a significant risk of losing the entire amount invested. Persons considering making such investments should consult an authorised person specialising in advising on such investments. This announcement does not constitute a recommendation concerning the securities referred to herein.

No announcement or information regarding the offering, listing or securities of the Company referred to above may be disseminated to the public in jurisdictions where a prior registration or approval is required for such purpose. No steps have been taken, or will be taken, for the offering or listing of securities of the Company in any jurisdiction where such steps would be required, except for the admission of the new shares on the regulated market of Euronext Brussels. The issue, exercise, or sale of, and the subscription for or purchase of, securities of the Company are subject to special legal or statutory restrictions in certain jurisdictions. The Company is not liable if the aforementioned restrictions are not complied with by any person.


Tel: +1 949 271 9223

Email: ir@mdxhealth.com

(C) 2021 Electronic News Publishing, source ENP Newswire

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Analyst Recommendations on MDXHEALTH SA
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Sales 2022 25,4 M 26,0 M 26,0 M
Net income 2022 -33,1 M -33,8 M -33,8 M
Net Debt 2022 - - -
P/E ratio 2022 -
Yield 2022 -
Capitalization 123 M 126 M 126 M
Capi. / Sales 2022 4,84x
Capi. / Sales 2023 3,81x
Nbr of Employees 191
Free-Float 83,6%
Duration : Period :
MDxHealth SA Technical Analysis Chart | MarketScreener
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Technical analysis trends MDXHEALTH SA
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus BUY
Number of Analysts 1
Last Close Price 0,79 €
Average target price 1,20 €
Spread / Average Target 51,9%
Managers and Directors
Michael K. McGarrity Chief Executive Officer & Executive Director
Ron Kalfus Chief Financial Officer
Koen Hoffman Chairman
Miriam Reyes Executive Vice President-Operations
Joseph Sollee Chief Compliance Officer, EVP & General Counsel
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