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Mainz Biomed Announces the Closing of its $25.8 Million Public Follow-on Offering of Common Stock and Full Exercise of the Underwriters’ Option to Purchase Additional Shares
Proceeds Allocated to Development of Recently Acquired mRNA Biomarkers and Launch of Clinical Studies to Support ColoAlert’s FDA Submission BERKELEY, Calif.
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[{"type":"text","content":"Proceeds Allocated to Development of Recently Acquired mRNA Biomarkers and Launch of Clinical Studies to Support ColoAlert’s FDA Submission\nBERKELEY, Calif. and MAINZ, Germany, Jan. 28, 2022 (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, announced today the closing of its underwritten public follow-on offering (the “Follow-on Offering”) of 1,725,000 ordinary shares at a public offering price of US$15.00 per ordinary share (the “Offering Price”). The aggregate gross proceeds to Mainz Biomed were $25,875,000 before deducting underwriting discounts and commissions and other offering expenses payable. This included the exercise in full by the underwriters of their option to purchase 225,000 additional shares of common stock. Boustead Securities, LLC acted as the sole underwriter for the offering. Ortoli Rosenstadt LLP served as counsel to Mainz Biomed. Sichenzia, Ross and Ference LLP served as counsel to the underwriter. The offering was being made only by means of a prospectus. A copy of the final prospectus related to the offering may be obtained, when available, from Boustead Securities, LLC, via email: [email protected] or by calling +1 (949) 502-4408 or standard mail at Boustead Securities, LLC, Attn: Equity Capital Markets, 6 Venture, Suite 395, Irvine, CA 92618, USA. In addition, a copy of the final prospectus, when available, relating to the offering may be obtained via the SEC’s website at www.sec.gov. About Mainz Biomed N.V.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 currently marketed in Europe with an FDA clinical study and submission process intended to be launched in the first half of 2022 for U.S. regulatory approval. Mainz Biomed’s product candidate portfolio 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, and the GenoStick technology, a platform being developed to detect pathogens on a molecular genetic basis. For more inf...