Brighter completes private placement of SEK 10.5 million and takes up a loan of SEK 10.5 million.
The Board of Brighter AB (publ) ("Brighter" or the "Company"), supported by the Annual General Meeting's authorization of June 17, 2015, decided to issue a total of 4,556,418 new shares with deviation from the shareholders' preferential rights. The issue was subscribed by a consortium of private investors led by Capensor Capital. The subscription price was SEK 2.33 per share.
In order to strengthen the Company's financial position, the Board has decided to conduct a private placement of SEK 10.5 million. The subscription price has been determined to SEK 2.33 per share through a bookbuilding process, which represents a discount of 15 percent on the last ten trading days’ volume weighted price.
The purpose of the issue and the reason for the deviation from shareholders' preferential rights is that the Board considers it beneficial for the company to raise capital totaling SEK 21 million. The rights offering one share dilution of approximately 9.92 percent in relation to the total number of shares after the issue. The number of shares in Brighter will increase by 4,556,418, from 41,380,845 shares to a total of 45,937,263 shares and the share capital increases by SEK 227,820,90, from SEK 2,066,042.25 to SEK 2,293,863,15.
The loan of SEK 10.5 million has been given by the same consortium that participated in the private placement. The loan has a one year term and carries an annual interest rate of 10 %.
“The funds resulting from the private placement and the loan represents a significant strengthening of our financial position. The development of Actiste® - our conneceted diabetes management tool and services - proceeds as planned, and during the spring the Board of Brighter intends to appoint the manufacturing partner in Sweden. Sales of jDome® BikeAround™ increases as expected during this quarter - a period which, together with the fourth quarter, sets the tone for sales to municipal operations”, says Truls Sjöstedt, Brighter's CEO and founder.
Questions? Please contact:
Henrik Norström, COO
Phone: 46 733 40 30 45
henrik.norstrom@brighter.se
Truls Sjöstedt, CEO
Phone: 46 709 73 46 00
truls.sjostedt@brighter.se
About Brighter AB (publ)
Brighter develops solutions for data-driven and mobile health services. Through its intellectual property and innovative tools, jDome® and Actiste®, the company creates a more efficient care chain with focus on the individual. The goal is to simplify, streamline and enhance the information flow of relevant and reliable data between the patient and health care professionals. Brighter is initially focused on diabetes care and care for the elderly, but there are opportunities in the future to operate on a broader level, spanning more diseases and treatment approaches. This is done through The Benefit Loop™, Brighter’s cloud-based service that continuously collects, analyzes and shares data on the user's terms.
The Company's shares are listed on NASDAQOMX First North/BRIG. Brighter’s Certified Adviser on Nasdaq OMX First North is Remium Corporate Finance +46 (0)8 – 454 32 76, CorporateFinance@remium.com, www.remium.com.