New equity financing would provide the Company sufficient financial visibility to execute its strategic plan and achieve profitability
The future exercise of share subscription warrants (BSA) issued as part of the transaction could bring the total amount of the financing to over €11m
Regulatory News:
Mauna Kea Technologies (Euronext Growth: ALMKT), inventor of Cellvizio®, the multidisciplinary probe and needle-based confocal laser endomicroscopy (p/nCLE) platform, announced it has secured firm subscription commitments for an amount exceeding €5 million, corresponding to the minimum target set by its draft safeguard plan (the "Safeguard Plan
This crucial step comes ahead of the hearing scheduled for October 27 at the Paris Commercial Court (the "Court"), which will rule on the approval of the Safeguard Plan.
The Company is continuing discussions with several other family offices and entrepreneurs to maximize the amount of commitments prior to the launch of the transaction.
The capital increase, which will be carried out via a private placement of shares with attached warrants (ABSA) after the Safeguard Plan is approved by the Court, will provide the Company with the necessary financial resources to execute its strategic roadmap and achieve its profitability target by 2027.
The terms of the transaction, notably the subscription price and the characteristics of the warrants (BSA) issued to new investors and existing shareholders, remain unchanged and are described in the press release dated October 8, 2025.
This is a new important milestone which arrives when the Company registers a very positive commercial momentum, marked by a notable commercial acceleration in the United States and a significant improvement in its financial results. This progress confirms the relevance of the strategy being implemented and the Company's ability to successfully execute its plan.
Sacha Loiseau, Chairman, CEO and founder of Mauna Kea Technologies, concluded: "Securing these firm financing commitments is a decisive step in our turnaround plan. Moreover, it reflects investors' confidence in the new chapter opening for Mauna Kea while allowing us to anticipate a favorable outcome of the safeguard procedure. I am particularly pleased to have the support of renowned entrepreneurs and investors from the healthcare sector across several geographies, who recognize the value creation inflection point that I am convinced lies ahead of us. We are approaching this new phase with renewed discipline and the determination to rapidly achieve profitability, expand clinical adoption of Cellvizio, and rebuild value for all stakeholders."
Indicative Timeline
- October 27, 2025: Hearing of the Paris Commercial Court on the safeguard plan
- First half of November 2025: Court's decision and setting of the ABSA Issue Price
- Within 2 trading days following the setting of the Issue Price: Settlement and delivery of the new ABSA
About Mauna Kea Technologies
Mauna Kea Technologies is a global medical device company that manufactures and sells Cellvizio®, the real-time in vivo cellular imaging platform. This technology uniquely delivers in vivo cellular visualization which enables physicians to monitor the progression of disease over time, assess point-in-time reactions as they happen in real time, classify indeterminate areas of concern, and guide surgical interventions. The Cellvizio® platform is used globally across a wide range of medical specialties and is making a transformative change in the way physicians diagnose and treat patients. For more information, visit www.maunakeatech.com.
Disclaimer
This press release and the safeguard plan contains forward-looking statements about Mauna Kea Technologies, its business and the progress of the safeguard proceedings initiated for the benefit of the Company. All statements other than statements of historical fact included in this press release and the safeguard plan, including, but not limited to, statements regarding Mauna Kea Technologies' financial condition, business, strategies, plans and objectives for future operations are forward-looking statements. Mauna Kea Technologies believes that these forward-looking statements are based on reasonable assumptions. However, no assurance can be given that the expectations expressed in these forward-looking statements will be achieved. These forward-looking statements are subject to numerous risks and uncertainties, including those described in Chapter 2 of Mauna Kea Technologies' 2024 Annual Report filed with the Autorité des marchés financiers (AMF) on April 30, 2025, which is available on the Company's website (www.maunakeatech.fr), as well as the risks associated with changes in economic conditions, financial markets and the markets in which Mauna Kea Technologies operates. The forward-looking statements contained in this press release and the safeguard plan are also subject to risks that are unknown to Mauna Kea Technologies or that Mauna Kea Technologies does not currently consider material. The occurrence of some or all of these risks could cause the actual results, financial condition, performance or achievements of Mauna Kea Technologies to differ materially from those expressed in the forward-looking statements. This press release and the information contained herein do not constitute an offer to sell or subscribe for, or the solicitation of an order to buy or subscribe for, shares of Mauna Kea Technologies in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The distribution of this press release may be restricted in certain jurisdictions by local law. Persons into whose possession this document comes are required to comply with all local regulations applicable to this document.
This press release does not constitute a prospectus within the meaning of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 (the "Prospectus Regulation"). With respect to the member states of the European Economic Area (each, a "Relevant Member State"), no offer of the securities mentioned herein is made or will be made to the public in that Relevant Member State, except (i) to any legal person who is a qualified investor as defined in the Prospectus Regulation, (ii) to fewer than 150 natural or legal persons per Relevant Member State, or (iii) in other circumstances falling within Article 1(4) of the Prospectus Regulation; provided that none of these offers shall require the publication by the Company of a prospectus pursuant to Article 3 of the Prospectus Regulation. For the purposes of the foregoing, the expression "offer to the public" in any Relevant Member State has the meaning given to it in Article 2(d) of the Prospectus Regulation.
This document is only distributed to and is only directed at persons who are (a) outside the United Kingdom, (b) "investment professionals" falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended, the "Order"), (c) "high net worth companies" or other persons to whom it may lawfully be communicated, falling within Article 49(2) of the Order (all such persons together being referred to as "relevant persons"). Any investment or investment activity to which this document relates is available only to relevant persons and will be engaged in only with relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.
Solely for the purposes of each manufacturer's product approval process, the target market assessment in respect of the securities offered in the Capital Increase has led to the conclusion that, in relation to the type of clients criteria, (i) the target market for the securities is eligible counterparties and professional clients, each as defined in Directive 2014/65/EU, as amended ("MiFID II"); and (ii) all channels for distribution of the securities offered in the Capital Increase to eligible counterparties and professional clients are appropriate. Any person subsequently offering, selling or recommending the ABSA (a "distributor") should take into consideration the manufacturers' client type assessment; however, a distributor subject to MiFID II is responsible for undertaking its own target market assessment in respect of the ABSA offered in the Capital Increase (by either adopting or refining the manufacturers' target market assessment) and determining appropriate distribution channels.
This press release has been prepared in French and English. In the event of any discrepancy between the two versions of the press release, the French version shall prevail.
View source version on businesswire.com: https://www.businesswire.com/news/home/20251021346800/en/
Contacts:
Mauna Kea Technologies
investors@maunakeatech.com
NewCap Investor Relations
Aurélie Manavarere Thomas Grojean
+33 (0)1 44 71 94 94
maunakea@newcap.eu