MAUNA KEA TECHNOLOGIES (EPA:MKEA) MAUNA KEA TECHNOLOGIES secures an equity financing facility

Transparency directive : regulatory news

12/03/2015 18:21

Press release

MAUNA KEA TECHNOLOGIES SECURES AN EQUITY FINANCING FACILITY

PARIS, March 12th 2015 - Mauna Kea Technologies (Euronext: MKEA; ISIN:
FR0010609263), inventor of Cellvizio(r), the multidisciplinary confocal laser
endomicroscopy platform, today announced the implementation of an equity
financing facility with Société Générale, based on the 20th resolution
approved by the General Meeting of Shareholders of June 11, 2014.

At the current share price(1), the facility would provide a maximum capital
contribution to the Company of EUR7 million. Proceeds from the facility will
enhanced Mauna Kea Technologies' cash balance (EUR15 million as of December
31, 2014) and will be used to support its commercialization efforts.

Under this equity financing facility, and subject to certain conditions,
Société Générale has committed itself to subscribing 1,390,000 new shares
(representing 9.9% of current capital) over the course of the next ten months,
at its own pace and timing. If the financing facility were to be used in full,
and considering the fact the company has the ability to stop the equity
financing at anytime, a shareholder with 1% of the capital today would see that
holding drop to 0.91% of capital(2).

For each tranche, the issuing price will be at a discount of 5% with respect to
the volume weighted average price of the last three trading days. Société
Générale does not intend to remain a holder of the Company's capital, so the
discount will allow it to guarantee the share subscription in spite of possible
volatility of the financial markets.

The Company will release the number of shares issued under this equity line
every month.

"We are pleased that this facility can further boost the Company's cash balance,
thereby supporting the ongoing global commercialization efforts for our unique
Cellvizio platform. Our goal is to implement this plan in a manner that
minimizes the dilution of our shareholders while positioning the Company for
sustained growth." said Sacha Loiseau, Founder and Chief Executive Officer of
Mauna Kea Technologies.

(1) 5,28 euros at the closing price on March 12th, 2015
(2) On the basis of 13,992,519 shares that make up Mauna Kea Technologies'
capital on the date of this press release.

About Mauna Kea Technologies

Mauna Kea Technologies is a global medical device company focused on leading
innovation in endomicroscopy and optical biopsy. The company designs, develops
and markets innovative tools to visualize and detect cell abnormalities in real
time during standard gastrointestinal and pulmonary endoscopy procedures. The
company's flagship product, Cellvizio(r), a probebased Confocal Laser
Endomicroscopy (pCLE) system, provides physicians and researchers with
high-resolution cellular imaging of internal tissues. Large- scale,
international, multi-center clinical trials have demonstrated Cellvizio's
ability to help physicians to more accurately detect early forms of diseases
and make immediate treatment decisions. Designed to help physicians in their
diagnoses, provide patients with better treatment and reduce hospital costs,
the Cellvizio system can be used with practically all endoscopes. Cellvizio has
510(k) clearance from the United States Food and Drug Administration and CE
Marking in the European Union for use in the gastrointestinal tract and the
urinary and respiratory systems, for endoscopic exploration of the biliary and
pancreatic ducts, and for fine-needle aspiration procedures. Cellvizio also
obtained SFDA regulatory approval in China and MHLW approval in Japan.

For further information on Mauna Kea Technologies, visit www.maunakeatech.com

Mauna Kea Technologies
Eric Cohen
Vice President Finance
Tel: +33 (0)1 70 08 09 70
investor-vpf@maunakeatech.com

France and Europe
NewCap
Investor Relations & Financial Communication
Florent Alba / Pierre Laurent
Tel: +33 (0)1 44 71 94 94
maunakea@newcap.fr

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