Senzime AB (publ) proposes a directed share issue of SEK 30 million to Länsförsäkringar, Handelsbanken, Segulah and the Crafoord family
Press release: Uppsala, July 25, 2019. The Board of Directors of Senzime AB (publ) ("Senzime" or the "Company") has decided to propose a directed share issue to a consortium consisting of a few strategically important investors, including Länsförsäkringar funds, Handelsbanken Microcap, Segulah and the Crafoord family to a value of SEK 30 million before issue costs and at a subscription price per share of SEK 8.90, corresponding to the average price in the last three trading days. Through the rights issue, the Company will receive SEK 30 million before issue costs to support the global launch of TetraGraph.
The Board of Directors of Senzime has decided to propose an extraordinary general meeting to decide on a directed issue with a value of SEK 30 million. The subscription price of the issue is SEK 8.90 and corresponds to the average price in the last three trading days, which means that Senzime will receive SEK 30 million before issue costs.
"This funding gives us the opportunity to accelerate the roll-out of TetraGraph. It strengthens our position in negotiations with potential strategic partners and enables important new recruitments in the US market, for example, "says Pia Renaudin, CEO of Senzime AB.
The purpose of the decision and the reason for the deviation from the shareholders ' preferential rights are that the company can procure funding for the company's global rollout of TetraGraph including the planned launch in the United States. The issue strengthens the ownership of the company with investors with a focus on companies in the pharmaceutical industry and medical technology, which is strategically important for the company. The directed issue also means that the funding can be implemented in a time-efficient manner and in addition to significantly lower costs for the company, compared to a traditional rights issue. It is the board's overall assessment that the issue – on the proposed terms – is in the interest of all shareholders. The proposed subscription price in the new share issue corresponds to the average price in the last three trading days.
The Board of Directors will convene an extraordinary general meeting to be held on 21 August 2019 for resolution on the new share issue. Through the issue, the share capital will increase by approximately SEK 421 348, which means a dilution of about 6.4 per cent of both the number of shares and votes (options are not included).
Senzime develops and markets systems, driven by unique algorithms and sensors, to follow patients ' nervous systems and electrical impulses – before, during and after surgery. The company's solution is called TetraGraph, a medical technology system that digitally and continuously measures the degree of neuromuscular blockade in the patient. The goal is improved clinical precision and simplified management in healthcare. By preventing complications and enabling healthcare professionals to follow health care guidelines and drug recommendations, TetraGraph contributes to shorter hospitalizations and lower health care costs – in a world where everyone wakes up safely after surgery. The vision is a world without narcotics-related complications. Senzime operates in growing markets that in Europe and the United States are valued in excess of SEK 10 billion. The company's shares are listed on Nasdaq First North (ticker SEZI). FNCA Sweden AB, +46 (0)8-528 00 399, firstname.lastname@example.org, is Certified Adviser for Senzime. www.senzime.com
This information is insider information that Senzime AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person set out above, on July 25, 2019, 09.45.
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