Senzime AB carries out a directed share issue and raises SEK 73.5 million before issue costs

“Year 2020 has started with larger orders of TetraGraph systems from South Korea, NHS hospitals in England and customers in the US through our new US subsidiary. COVID-19 has not affected our access to components and production capacity and our assessment remains that we will be able to deliver products and services without interruption throughout the coronavirus pandemic. Through the proceeds from the directed share issue we now secure capabilities to, with additional long-term institutional owners, continue the expansion in both the US as well as in Europe and Asia. “Now we really have resources to accelerate our roll-out of TetraGraph”, says Pia Renaudin, CEO of Senzime.

The share issue comprises a total of 4,900,000 shares at a subscription price of SEK 15 per share, raising gross proceeds of SEK 73.5 million to the Company before issue costs. The subscription price corresponds to today’s closing price.

The purpose of the share issue and the reason for the deviation from the shareholders' preferential rights is to widen the shareholder base with institutional investors and at the same time, in a timely and cost-efficient manner, raise new equity to enable new investments for accelerated growth. The proceeds will primarily be used to implement the Company’s growth plan with focus on sales in the US market and certain other international markets and to strengthen the working capital in connection with the expansion of the business.

Through the share issue, the total number of shares in the Company will increase by 4,900,000 shares, from 52,448,290 shares, to 57,348,290 shares. The share capital will increase by SEK 612,500, from SEK 6,556,036.25 to SEK 7,168,536.25. The share issue implies a dilution effect of approximately 8.5 percent based on the number of shares in the share issue divided by the total number of shares in the Company after the share issue.

In connection with the share issue the Company has agreed to not carry out any additional equity issues for a period of 180 days after the settlement date. In addition, Pia Renaudin (CEO), Erik Bergman (CFO) as well as all board members of the Company, have agreed to, with customary exceptions, not sell any shares in the Company for a lock-up period of 180 days after the settlement date.

Advisers

In connection with the share issue, the Company has retained Danske Bank A/S, Danmark, Sverige Filial as financial adviser and Advokatfirman Lindahl KB as legal adviser.

For further information, please contact:     

Pia Renaudin, CEO of Senzime AB

Tel: +46 708-13 34 17, e-mail: pia.renaudin@senzime.com

This is 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 8 April 2020, 20:10 CET.

About Senzime

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 Growth Market (ticker SEZI). FNCA Sweden AB, +46 (0)8-528 00 399, info@fnca.se, is Certified Adviser for Senzime. www.senzime.com

Important information

This press release does not constitute an offer or solicitation to purchase securities in Senzime.

This press release does not constitute or form part of an offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein may not be sold in the United States absent registration or an exemption from registration under the US Securities Act of 1933, as amended (the “Securities Act”). Senzime has no intention to register any securities referred to herein in the United States or to make a public offering of the securities in the United States. The information in this press release may not be announced, published, or distributed, directly or indirectly, within or into the United States, Australia, Canada, Hong Kong, Japan, New Zeeland, Singapore, South Africa, Switzerland or in any other jurisdiction where such announcement, publication or distribution of the information would not comply with applicable laws and regulations.