Brighter strengthens funding for autumn product launch.
Strengthens the company's financing by SEK 6.4 million. The capital will be used mainly for the launch of Brighter’s connected diabetes aid, Actsite. The financing is made through a loan of SEK 3.82 million and a private placement of the entire amount through settling and SEK 2.58 million in cash.
The work on the launch of Actiste is in full action: 0 series production, assurance of pre-order subscriptions from county councils, support organization, packaging design, logistics flows, marketing and communication. In addition, CE marking of both the physical device and the digital platform - including interface / apps for users, “next of kin”, healthcare professionals, etc. Brighter is also preparing launches in Indonesia and Thailand and is working on assuring the quality on requests from other markets. This funding is a complement to the previously announced convertible issue.
"We continuously work with the company's capital structure and financing to optimize operations. In this we have established a good relationship with Recall Capital as a long-term partner who also has the mission to ensure the company's shares’ liquidity in the market”, says Henrik Norström, COO and CFO.
Based on the authorization of the Board, the Board has decided to issue a private placement of a total of SEK 6,400,000 and 1,600,000 shares, of which SEK 3,816,000 and 954,000 shares through settlement and 2,584,000 and 646,000 shares in cash, which strengthens the company's equity. The settlement relates to loans issued by Recall Capital and the cash issue is fully subscribed by Recall Capital. The subscription price per share will be SEK 4.00, corresponding to a discount of 4.53% of the closing price on August 3, 2017. The number of shares in the company after the private placement amounts to SEK 56,942,991 and the share capital amounts to SEK 2,847,149.55.
For more information, please contact:
Truls Sjöstedt, CEO
Tel: +46 709 73 46 00
Henrik Norström, COO
Tel: +46 733 40 30 45
About Brighter AB (publ)
Brighter develops solutions for data-driven and mobile health services. Through its intellectual property and its first launch 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, 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 Nordic AB +46 (0)8 – 454 32 50, CorporateFinance@remium.com, www.remium.com.
This information is information that Brighter 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 persons set out above, at 08:30 CET on August 7, 2017.