News Detail - Cyan Security

cyan successfully completes capital increase with full placement and issue proceeds of EUR 8 million

DGAP-News: cyan AG / Key word(s): Capital Increase/Miscellaneous
22.09.2021 / 08:30
The issuer is solely responsible for the content of this announcement.

cyan successfully completes capital increase with full placement and issue proceeds of EUR 8 million

Munich, September 22, 2021 - cyan AG successfully placed all 2,481,686 new shares offered in the capital increase with subscription rights. The majority of shares were subscribed by existing shareholders by exercising their statutory subscription rights. The new shares could be subscribed at a subscription ratio of 4 to 1 with a subscription price of EUR 3.22. The remainder of around 44% was acquired by interested investors in a significantly oversubscribed private placement. The company received a total of EUR 7,991,028.92 from the capital increase. The share capital of the company was thereby increased from EUR 9,926,745.00 to EUR 12,408,431.00. The cash inflow will be used to implement the restructuring strategy with a focus on cybersecurity.

Michael Sieghart, CFO of cyan AG: "We are very grateful to our shareholders for the trust they have placed in us and consider this to be a confirmation of the strategy we have outlined. With the proceeds from the capital increase, we receive the necessary financial leeway to be able to implement the transformation."

cyan AG will set its focus in the future on recurring revenues from cybersecurity products for telecom companies. For the BSS/OSS segment, all options including a sale are being examined. The restructuring also includes a comprehensive cost reduction program with the aim of becoming profitable in the Group in 2022.

About cyan

cyan AG is a leading, globally active provider of intelligent cyber security solutions and platforms (BSS/OSS) for telecom companies with more than 15 years of experience in the IT industry. The company's main business areas are IT security solutions for end customers of mobile and fixed network internet providers (MNO, ISP), mobile virtual network operators (MVNO) and financial service providers. The solutions provided by cyan are integrated as white label product into the infrastructure of the business partners, who then offer them to their end customers in a B2B2C model, under their own brand.

Today the group has numerous international customers, through which cyan's products are distributed to end customers. In the process cyan can offer a range of solutions along the entire value chain from platform, data optimization to cyber security. In addition, cyan operates its own research & development center with the aim of identifying industry trends at an early stage and developing optimal product solutions. In December 2018, cyan won a global group contract with Orange as a result of an inter-national tender process. Besides Orange, cyan's customers include among others Claro Chile (América Móvil Group) as well as the telecom group Magenta (T-Mobile).

Further information is available at www.cyansecurity.com.

cyan AG Investorenkontakt:

cyan AG
Tel. +49 89 71042 2073
E-Mail: ir@cyansecurity.com

cyan AG Pressekontakt:

Better Orange IR & HV AG
Tel. +49 89 88 96 906 17
E-Mail: vera.mueller@better-orange.de



22.09.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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