Senzime has completed a private placement that adds 10 million
Uppsala, 28 April 2015. Senzime AB (publ) today announced that the Company completed a private placement. The private placement provides the company with approximately SEK 10 million before issue costs. The subscription price is SEK 4.42 per share.
The private placement provides Senzime with the opportunity to issue 2,281,222 new shares to two qualified new investors for the price of SEK 4.42 per share. The price per share represents an approximate 10 percent discount from the 30-day volume-weighted price of the issue resolution. The Company intends to use the proceeds from the private placement to strengthen working capital including financing the current operations of the recently acquired MD Biomedical AB.
"We have just acquired MD Biomedical, thus creating for us the conditions to commercialize a complete patient monitoring system based on microdialysis on a large and growing market. Through the private placement we are also strengthening our financial position which altogether strengthens our position on several fronts, "says Lena Söderström, CEO of Senzime AB.
To implement capital raising the Board of Senzime, with authorization from the AGM held on 14 May 2014, decided on a private placement of 2,281,222 new shares. The reason for deviating from the shareholders' preferential rights is to broaden Senzimes shareholder base and ensure equity in a short time.
The number of shares in Senzime increases by 2,281,222 from 13,595,508 to 15,876,730 and the share capital increases by 5,703,055, from SEK 33,988,770 to SEK 39,691,825 crowns. The private placement results in a share dilution of approximately 14.4 percent when concluded. Issue costs amount to approximately SEK 0,6 million.
Redeye AB has acted as financial advisor and law firm Lindahl's legal advisor in connection with the issue.
For further information, please contact:
Lena Söderström, CEO Senzime AB
Tel: +46-708-16 39 12, e-mail: lena.soderstrom@senzime.com
About Senzime
Senzime develops and sells analytical instruments and related disposable products that enable automated, continuous monitoring of vital substances including glucose (sugar), in biological fluids. Many modern medicines are produced in living cells that are nourished in a glucose solution. In order to ensure maximum productivity in manufacturing, glucose levels should be measured continuously. Continuous glucose monitoring can also be used by healthcare providers, to improve outcomes of complex surgical procedures. Other areas where online monitoring can be useful are in research, dialysis care and sports. The company's share is listed on Aktietorget since 2008. www.senzime.com