The share issue in OssDsign AB (publ) before listing on Nasdaq First North oversubscribed
On May 2, 2019, the Board of Directors of OssDsign AB (publ) (“OssDsign” or the “Company”) resolved, with the support of the authorization from the Annual General Meeting on April 24, 2019, on a share issue of up to 5,500,000 shares (the “Offer”) and to apply for admission to trading of the Company’s shares on Nasdaq First North. Expected first day of trading is May 24, 2019. There has been a strong interest for participating in the Offer and the Offer was subscribed to approximately 117 percent. Through the Offer, the Company will raise approximately SEK 151.3m before transaction costs. Provided that the over-allotment option of an additional 825,000 shares is fully exercised, the Company will raise an additional SEK 22.7m before transaction costs. OssDsign is provided around 2,000 new shareholders through the Offer.
The last day to subscribe for shares in the Offer was May 17, 2019. The Offer will increase the number of shares in the Company from 12,233,168 shares to 17,733,168 shares, corresponding to a dilution of 31 percent. If also the over-allotment option is fully exercised, the total number of shares will increase by an additional 825,000 shares to a total of 18,558,168 shares and the total dilution effect will amount to 34 percent. The subscription price was SEK 27.50 per share. The Offer was covered up to approximately 74 percent by subscription commitments from a number of institutional and private investors, including the Company’s two largest shareholders as well as the Company’s Chairman Simon Cartmell and Board Member Anders Qvarnström.
”It is very gratifying to see that it has been a great interest for OssDsign and that we have succeeded in attracting both reputable institutional owners and achieving a wide distribution of shares in our offer. The completed share issue and the forthcoming listing on Nasdaq First North will enable us to pursue our strategy and implement the planned market investments required to achieve strong growth as well as sustainable and increasing profitability.”, says Anders Lundqvist, CEO of OssDsign.
Decision on allotment of subscribed shares has been made in accordance with the principles stated in the prospectus that was published on May 2, 2019. Notification of allotment of shares is made by distribution of a contract note, which is expected to take place around May 21, 2019. Payment for allotted shares shall be made in accordance with instructions on the contract note and the settlement day is May 23, 2019. Only those who have been allotted shares will be notified.
Erik Penser Bank is the financial advisor in connection with the Offer. SV Ventures has acted as Co-Advisor to the Company in strategic matters related to the Offer and Setterwalls Advokatbyrå is the legal advisor in connection with the Offer.
The Company’s Certified Adviser is Erik Penser Bank AB. Contact information: Erik Penser Bank AB, Box 7405, 103 91 Stockholm, Sweden, phone: +46 (0)8-463 80 00, email: email@example.com.
For further information, please contact:
Anders Lundqvist, CEO, OssDsign AB
Phone: +46 73 206 98 08, email: firstname.lastname@example.org
OssDsign is a Swedish medical technology company that develops and manufactures regenerative implants for improved healing of bone defects. Providing neuro and plastic surgeons with innovative implants, OssDsign improves the outcome for patients with severe cranial and facial defects worldwide. By combining clinical knowledge with proprietary technology, OssDsign manufactures and sells a growing range of patient-specific solutions for treating cranial defects and facial reconstruction. OssDsign's technology is the result of collaboration between clinical researchers at Karolinska University Hospital in Stockholm and material scientists at the Ångström Laboratory at Uppsala University.
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