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ARTICLE | Financial News

MagForce subsidiary raises $15 million

August 9, 2014 12:31 AM UTC

MagForce AG (Xetra:MF6) said its MagForce USA Inc. subsidiary raised $15 million through the sale of 1.5 million shares in the subsidiary at $10 in a "growth financing" round led by Mithril Capital Management. Undisclosed strategic investors and company management also participated. Investors received warrants to purchase up to 1.5 million shares at the same price. MagForce established MagForce USA last month to develop its technology and products for the North American market. ...