S2Medical AB (publ) announces outcome of rights issue
The Board of Directors of S2Medical AB (publ) (the "Company" or "S2Medical") announces the outcome of the rights issue of units with preferential rights for the existing shareholders, announced on 15 March 2022 (the "Rights Issue"). The Rights Issue was 37.0 percent subscribed for with and without the support of unit rights. In total, 4,971,902 units were subscribed for with the support of unit rights, representing approximately 33.0 percent of the Rights Issue, and 599,183 units were subscribed for without the support of unit rights, representing approximately 4.0 percent of the Rights Issue. The remaining part of the Rights Issue, corresponding to 4,965,373 units or approximately 33.0 percent, will be allocated to guarantors and S2Medical will thereby receive a total of approximately SEK 21 million before issue costs.
Outcome of the Rights Issue
The subscription period for the Rights Issue closed on 6 May 2022 and the outcome shows that the Rights Issue was subscribed for approximately 37.0 percent with and without the support of unit rights. In total, 4,971,902 units were subscribed with the support of unit rights, corresponding to approximately 33.0 percent of the Rights Issue, and 599,183 units without the support of unit rights, corresponding to approximately 4.0 percent of the Rights Issue. The remaining part of the Rights Issue, corresponding to 4,965,374 units or approximately 33.0 percent, will be allocated to guarantors. The Rights Issue will raise approximately SEK 21 million before issue costs, which are expected to amount to approximately SEK 5 million, including the cash costs of the guarantors. The proceeds of the issue will be used primarily to enable the continued development of the Company's product portfolio and to meet the Company's expansion plans.
Notification of the allocation of units subscribed for without subscription rights will be sent to those who have been allocated units in the form of a settlement note. Shareholders registered with a trustee will receive notification of allocation in accordance with the procedures of the respective trustee. Allotment of units subscribed for without the support of subscription rights has been carried out in accordance with the principles set out in the prospectus published on 14 April 2022.
CEO Petter Sivlér comments:
[“The proceeds from the Rights Issue, together with the potential proceeds from the warrants this fall, will enable us to focus on growth, both through a geographic expansion and through an expansion of the product portfolio. We have a positive outlook on the Company’s future and would like to thank our existing shareholders for their continued trust as well as direct a warm welcome to our new shareholders.”]
Number of shares and share capital
After the Rights Issue has been registered with the Swedish Companies Registration Office, the total number of B shares in the Company will increase by 10,546,458 and amount to 22,473,521 (the total number of shares will amount to 25,598,541). The share capital will increase by SEK 617,763.481091 and amount to SEK 1,499,445.955901 after registration.
If all warrants of series TO1 are fully exercised, the number of B shares in the Company will increase from 22,473,521 B shares to 33,019,999 B shares (the total number of shares will increase to 36,144,999) and the share capital from SEK 1,499,445.955901 to SEK 2,117,209.436920.
Trading in BTU
Trading in paid subscribed Units (“BTU”) on Nasdaq First North Growth Market will continue until the Swedish Companies Registration Office (“SCRO”) has registered the Rights Issue and BTU is converted to units (B-shares and warrants of series TO1), which is expected to occur around week 21, 2022.
Trading in new shares and warrants
The new B shares will be admitted for trading in connection with the conversion of BTU to units (B-shares and warrants of series TO1) taking place, which is expected to occur around week 21, 2022.
The warrants of series TO 1, with short name S2M TO1 B and ISIN code SE0017769433, are intended to be admitted to trading on Nasdaq First North Growth Market in connection with the conversion of BTU to units (B-shares and warrants of series TO1) taking place, given that the conditions for admission to trading, e.g. in relation to distribution, are fulfilled.
The information was submitted for publication, through the agency of the contact person, on 10-05-2022 20:36 CET.
Contact Details
Petter Sivlér – CEO, S2Medical AB (publ)
Telephone: +46 (0)8-70 000 50
E-mail: petter.sivler@s2m.se
Certified Adviser
Vator Securities AB
Telephone +46 (0)8-580 065 99
Website: www.vatorsec.se
E-mail: ca@vatorsec.se
About S2Medical
S2Medical AB (publ) is a medical technology company that develops and sells innovative wound healing products for the entire wound healing process, with a focus on burns and chronic wounds. The company has developed eiratex®, a new cellulose-based material for healing severe burns and chronic wounds. The material heals wounds effectively and thereby reduces both suffering for patients and costs for health care.
Share's ticker: S2M
Share's ISIN-code: SE0011725084