SPINEWAY : Increase in capital of €1.4 million and entry of TINAVI Medical Technologies into Spineway”s capital

SPINEWAY, a company specialising in implants and surgical instruments for the treatment of vertebral (spinal) problems, is proud to announce that the Chinese company TINAVI Medical Technologies has joined its capital, following a €1.4 million increase in capital.

Following approval by the General Meeting on 4 November, Spineway increased its reserve capital through the issue of shares with attached warrants (Actions à Bons de Souscription d’Actions or ABSA in French) excluding preferential right of subscription, for a total of €1.4 million (including issue premium).

This increase in capital, made on November 18 through the issue of 355,260 new shares with attached warrants, was paid for entirely by TINAVI Medical Technologies, which now holds 9.09% of the capital and 5.04% of Spineway’s voting rights.

Stéphane Le Roux, Chief Executive Officer of Spineway, says: “We are delighted to welcome TINAVI Medical Technologies into our capital. In keeping with our Skyway 2018 plan, this partnership will open great potential for our development in China, which is a key nation in our Group’s history. On top of that, the synergies between our areas of expertise and know-how will help our respective companies grow and develop more rapidly in the spinal surgery market, which is continually striving to innovate.”

Find out all about Spineway at www.spineway.com

SPINEWAY IS ELIGIBLE FOR THE PEA-PME (EQUITY SAVINGS PLAN FOR SMES)

Spineway designs, manufactures and markets innovative implants and surgical instruments for treating severe disorders of the spinal column.

Spineway has an international network of over 50 independent distributors and 90% of its turnover comes from exports.

Spineway, which is eligible for investment through FCPIs (French unit trusts specializing in innovation), received the OSEO Excellence award as well as the Deloitte Fast 50 award in 2011. Rhône Alpes INPI Patent Innovation Award (2013) -Talent INPI award (2015).

Contacts:

Capital increase and Tinavi entry

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Source: SPINEWAY via Globenewswire