SynBiotic SE, as Europe's largest listed group of companies in the hemp and cannabis sector, has successfully completed the cash capital increase resolved on October 28, 2022. All 191,739 new shares were placed at the subscription price of EUR 13.00 per new share. The proceeds from the capital increase will be used to finance the business activities and expansion of SynBiotic SE through acquisitions.
SynBiotic SE Lars Müller commented, "The successful closing and full placement of this capital increase demonstrates the great interest in cannabis in Germany and in SynBiotic SE. Together with the capital increase a few weeks ago, we have raised a total of over EUR 4 million in new capital. With the publication of the key point paper last week on the legalization of recreational cannabis in Germany, it became clear that we are optimally positioned and will be the big winner of legalization. We will use the new funds in a targeted manner to further expand our leading position."
The execution of this capital increase is expected to be entered into the Company's commercial register in early to mid November 2022. Inclusion in trading on the primary market of the Düsseldorf Stock Exchange and delivery of the new Shares are expected to take place in mid to late November 2022.
About SynBiotic SE:
SynBiotic SE is the largest listed group of companies in Europe in the hemp and cannabis sector and pursues an EU-focused buy & build investment strategy. The group of companies covers the entire supply chain from cultivation to production to retail from field to shelf. One of the company's core businesses is the research & development, production and marketing of cannabinoid and terpene-based solutions to major societal problems such as pain, sleep and anxiety. In doing so, SynBiotic SE is active not only in the dietary supplement and cosmetics markets, but also in the medical and, in the future, recreational cannabis sector.
Further information is available at https://www.synbiotic.com.