Exercise of the overallotment option
Pareto Securities has notified Sedana Medical AB (publ) (”Sedana Medical” or the ”Company”), that the overallotment option has been exercised in full.
Press Release July 7, 2017
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. PLEASE REFER TO IMPORTANT INFORMATION AT THE END OF THE PRESS RELEASE.
In connection with the initial public offering and listing of the Company’s shares on Nasdaq First North June 21, 2017, the Company committed to issue an additional 769 230 new shares to cover overallotments of shares in connection with the offering.
Pareto Securities, acting as stabilization manager on behalf of the Company in the offering, has today exercised the overallotment option in full. The Company will therefore receive an additional SEK 15 million, which means that the Company will receive total proceeds of SEK 115 million before deduction of transaction costs.
No stabilization transactions have been carried out since the listing, and due to the Company’s share price performance, Pareto Securities has decided to end the stabilization period.
Explanatory description
If the demand for shares is large, the overallotment option makes it possible for the Company to issue more shares than the original offer. In this particular case, the overallotment option meant that the Company, in line with what is stated the prospectus published June 7, 2017, issued an additional 769 230 new shares.
The overallotment option was issued to make price stabilization practically possible during the first 30 days following the listing of Sedana Medical's shares. Since the price development of the Company's share has been strong and traded with a good margin to the subscription price, no price stabilization has been required and Pareto Securities has today decided to end the stabilization period.
For additional information, please contact:
Christer Ahlberg, CEO, Sedana Medical AB
Mob: +46 70 675 33 30
E-mail: Christer.ahlberg@sedanamedical.com
Thomas Eklund, Chairman of the Board, Sedana Medical AB
Mob: +46 70 824 20 25
E-mail: Thomas.eklund@investorab.com
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 7 July 2017 at 14.00 (CET).
About Sedana Medical
Sedana Medical is a Swedish medical technology company that was founded in 2005 after acquiring the AnaConDa from Teleflex. The AnaConDa technology was originally developed by Louis Gibeck AB, a leader in heat and moisture exchangers. Our headquarters are based in Danderyd outside Stockholm in Sweden and in Ireland, where the company has its headquarters for R&D. The company’s business includes the development, marketing and sale of medical devices and drug development for future projects around AnaConDa. The Anaconda technology enables safe and simple delivery of volatile anaesthetics to invasively ventilated patients. The company’s product range includes AnaConDa and AnaConDa-S with relevant accessories.
Important information
This announcement is not and does not form a part of any offer for sale of securities. Copies of this announcement are not being made and may not be distributed or sent into the United States, Australia, Canada, New Zealand, Hong Kong, Japan, Singapore, South Africa, South Korea or any other jurisdiction in which such distribution would be unlawful or would require registration or other measures. The securities referred to in this announcement have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and accordingly may not be offered or sold in the United States absent registration or an exemption from the registration requirements of the Securities Act and in accordance with applicable U.S. state securities laws. The Company does not intend to register any offering in the United States or to conduct a public offering of securities in the United States.
Any offering of securities referred to in this announcement will only be made by means of a prospectus. This announcement is not a prospectus for the purposes of Directive 2003/71/EC (together with any applicable implementing measures in any Member State, the “Prospectus Directive”). Investors should not invest in any securities referred to in this announcement except on the basis of information contained in the aforementioned prospectus. In any EEA Member State other than Sweden that has implemented the Prospectus Directive, this communication is only addressed to and is only directed at qualified investors in that Member State within the meaning of the Prospectus Directive, i.e., only to investors who can receive the offer without an approved prospectus in such EEA Member State.
This communication is only being distributed to and is only directed at persons in the United Kingdom that are (i) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”) or (ii) high net worth entities, and other persons to whom this announcement may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “Relevant Persons”). This communication must not be acted on or relied on by persons who are not Relevant Persons. Any investment or investment activity to which this communication relates is available only to Relevant Persons and will be engaged in only with Relevant Persons. Persons distributing this communication must satisfy themselves that it is lawful to do so.
Matters discussed in this announcement may constitute forward-looking statements. Forward-looking statements are statements that are not historical facts and may be identified by words such as “believe,” “expect,” “anticipate,” “intends,” “estimate,” “will,” “may,” "continue," “should” and similar expressions. The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although the Company believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors which are difficult or impossible to predict and are beyond its control. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements. The information, opinions and forward-looking statements contained in this announcement speak only as at its date, and are subject to change without notice.
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Sedana Medical AB (publ) is a Swedish company that develops, manufactures and sells the medical device AnaConDa. AnaConDa is a medical device for inhalation sedation of mechanically ventilated patients in intensive care units. At the end of 2016, the company initiated a major clinical study to receive market approval in Europe for IsoConDa (isoflurane) for inhalation sedation in intensive care units. The study is expected to end in late 2018. Registration is expected at the end of 2019. Sedana Medical has sales offices in Germany, Spain and France, as well as external distributors in Europe, the Middle East, Canada, Australia and South Korea. The headquarters is based in Danderyd, Sweden and the company has R&D operations in Ireland.
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