Completed sale of shares in Sedana Medical AB (publ)

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Sedana Medical AB (publ) (“Sedana Medical”) broadens the shareholder base through a secondary sale of existing shares by four insiders to Handelsbanken Fonder, Apus Capital, Norron Asset Management and Brohuvudet AB (the “Block Sale”). The Block Sale comprises a total of 697,835 shares, equivalent to circa SEK 63.5 million, or 3.7 percent of the outstanding shares in Sedana Medical. The Block Sale was made at the price of SEK 91 per share, corresponding to a discount of 3.6 percent compared to yesterday’s closing price.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, HONG KONG, JAPAN, SINGAPORE, SOUTH AFRICA, SOUTH KOREA OR ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL OR WOULD REQUIRE REGISTRATION OR ANY OTHER MEASURES.

Press release 20 September 2018 at 08:30 (CET)

Chairman Thomas Eklund comments:

We regard it as positive for both the company and the shareholders to increase the institutional ownership in Sedana Medical.”, says Thomas Eklund.

The sale means that board members Sten Gibeck and Ola Magnusson (through his wholly owned company Magiola Consulting AB) each sell 300,000 and 200,000 shares, respectively. In addition, Ron Farrell, Head of R&D, and Christer Ahlberg, CEO, each sell 167,835 and 30,000 shares, respectively.

In conjunction with the Block Sale, Sten Gibeck intends to donate 180,000 shares to four related persons. Prior to the sale, Ola Magnusson converted[1] 148,000 options into shares, which means that his net change of shares amounts to -52,000.

Following the Block Sale, the ownership of the selling shareholders will be as follows:

  • Sten Gibeck: 1,605,744 shares (8.4 percent ownership)
  • Ola Magnusson (privately and through his wholly owned company): 1,355,867 shares (7.1 percent ownership)
  • Ron Farrell: 731,062 shares (3.8 percent ownership)
  • Christer Ahlberg: 230,000 shares (1.2 percent ownership)

The CEO, Christer Ahlberg will enter into a lock-up of 360 days for the remainder of his shares. The other selling shareholders and the receivers of the donated shares will enter into a 90-days lock-up period for the remainder of their shares.

Advisers

Pareto Securities acted as bookrunner in connection with the Block Sale.

For additional information, please contact: 

Christer Ahlberg, CEO, Sedana Medical

Mobile: +46 70 675 33 30, E-mail: Christer.ahlberg@sedanamedical.com

Thomas Eklund, Chairman, Sedana Medical

Mobile: +46 70 824 20 25, E-mail: Thomas.eklund@investorlab.com

Sedana Medical is listed on Nasdaq First North in Stockholm and Erik Penser Bank (+46 8 463 83 00) is certified adviser to Sedana Medical. 

This information is such that Sedana Medical AB (publ) is obliged to disclose pursuant to the EU Market Abuse Regulation. The information was released for public disclosure, through the agency of the contact persons above, on 20 September 2018 at 08:30 (CET).

______________________

Sedana Medical AB (publ) has developed and sells the medical device AnaConDa, for the administration of volatile anaesthetics to mechanically ventilated patients. A major clinical registration study is currently ongoing to obtain market approval in Europe for inhalation sedation in intensive care units with the pharmaceutical IsoConDa® (isoflurane).

Sedana Medical has direct sales in the Nordic countries, Germany, France and Spain as well as external distributors in the rest of Europe, Canada, Australia and South Korea. The company headquarters are based in Stockholm, Sweden with R&D operations in Ireland.


[1] The conversion took place 13 September 2018.

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