Senzime proposes directed new issue that includes Segulah Venture AB, amounting to a total of SEK 25 million
Senzime’s Board of Directors is proposing an Extraordinary General Meeting to decide on a directed new issue of no more than 4,166,667 shares. The subscription price is SEK 6 per share, which means that, at full subscription, Senzime will receive SEK 25 million before issue costs.
"Now, Senzime takes a big step towards the market. We have unique, CE-approved medical technology systems ready to cost-effectively prevent millions of healthcare complications - every year. We have conducted many years of research and today have a number of distributor and license agreements in place. This financing will enable us to accelerate market rollout and will strengthen our position in negotiations with additional potential strategic partners," says Lena Söderström, President and CEO of Senzime.
”Segulah Venture looks forward to taking part in Senzime's continued journey. The company has developed solutions that solve difficult medical problems and have now begun their commercial launch, which makes it an interesting time for us to join as long-term owners," says Lennart Kalén, Chairman of Segulah Venture AB.
The purpose of the decision and the reason for the deviation from shareholders' preferential rights is to acquire capital, to tie strategically important investors to the Company, and to strengthen the ownership base of the Company, thereby increasing the conditions for successful commercialization of Senzime's products, as well as providing a time- and cost-effective issue process. Given this background, it is considered that it is in the interests of all shareholders to deviate from the pre-emptive right. The directed new issue is aimed at a few strategically important investors who, through subscription agreements, undertake to subscribe to the new shares. The subscription agreements contain certain conditions, including the fact that the market price of Senzime's share does not fall below a certain level at the date of subscription.
In the circle of subscribers, Segulah Venture AB has undertaken to subscribe to 2,500,000 shares, corresponding to a subscription of SEK 15 million. The subscription price in the directed new issue has been determined at arm's length negotiations with Segulah Venture AB and corresponds to a discount of approximately 8 percent compared to the volume weighted average price of the share in the previous 10 trading days. Marketability has been ensured through the above-mentioned negotiations and taking into account prevailing market conditions. One condition for Segulah Venture AB's investment is that some existing main shareholders in the Company also participate in the funding. Against this background, shareholders Ulf Lindskog with family and network, and Adam Dahlberg with family and network are included in the circle of subscribers, who together subscribe for shares of 10 MSEK. A detailed record of the shareholders to which the issue is directed will be included in the notice of the Extraordinary General Meeting.
The Board will convene an Extraordinary General Meeting to be held on March 5, 2018, for a resolution on the new issue. Through the issue, the share capital will increase by no more than SEK 520,833.38 to SEK 5,607,611.26, which means a dilution of no more than 9.3 percent of both the number of shares and votes (options not taken into account).
In connection with the transaction, Senzime has engaged Advokatfirman Lindahl as legal adviser.
For further information, please contact:
Lena Söderström, CEO of Senzime AB
Tel: +46 708-16 39 12, email@example.com
TO THE EDITORS
Senzime develops unique patient-oriented monitoring systems that make it possible to assess patients' biochemical and physiological processes before, during and after surgery. The portfolio of technologies includes bedside systems that enable automated and continuous monitoring of life-critical substances such as glucose and lactate in both blood and tissues, as well as systems to monitor patients’ neuromuscular function perioperatively and in the intensive care medicine setting. The solutions are designed to ensure maximum patient benefit, reduce complications associated with surgery and anesthesia, and decrease health care costs. 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 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 February 16, 2018.