Gradientech announces oversubscribed rights issue

Gradientech AB (publ) announces that the company's rights issue, for which the subscription period ended on December 6, 2023, has been completed. The issue was oversubscribed amounting to a total of approximately 107 percent. Through the issue, Gradientech will receive the maximum planned amount of approximately SEK 25.8 million before deduction of issue costs.

“To oversubscribe a rights issue, without guarantors, in the current strained financing climate, is both gratifying and an acknowledgment that we have many shareholders who think that we both have a promising product and that we deliver as a company,” says Sara Thorslund, co-founder and CEO of Gradientech. “We are now continuing our dedicated efforts to gain ground in Europe with our CE-marked QuickMIC® system, to prepare for the start of clinical regulatory studies in the US and to get the long-term financing in place.”

Outcome

After the end of the subscription period, the final count in the rights issue shows that the issue was oversubscribed, which after allotment means that all 4,448,812 shares have been subscribed for with and without the support of subscription rights. Through the issue, Gradientech will receive the maximum planned amount of approximately SEK 25.8 million before deduction of issue costs. Allotment of shares has been made in accordance with the allotment principles described in the information brochure that was distributed to all shareholders and published on the company's website. The issue was carried out without guarantee commitments.

Advisor

Advokatfirman Lindahl KB acts as legal advisor to Gradientech in connection with the rights issue. Nordic Issuing acts as issuing agent.

For further information, please contact:

Urban Adolfsson, CFO Gradientech

Phone: +46 70 820 72 09

urban.adolfsson@gradientech.se  

About Gradientech

Gradientech is leading the field of ultra-rapid antibiotic susceptibility testing. We develop next-generation diagnostics in infectious disease medicine. Our product QuickMIC®, classified as a breakthrough device by the U.S. Food and Drug Administration, allows patients with sepsis to quickly receive specific guidance on the right antibiotic in the right dose. It saves lives, reduces healthcare costs and limits the spread of antibiotic resistance – one of the greatest global health threats of our time. Gradientech is headquartered in Uppsala, Sweden. Visit www.gradientech.se for more information.