Mölndal,
The Board of Directors of
A number of Swedish and international institutional investors participated in the Directed Issue, including Adrigo Asset Management,
- Intensification of commercial efforts within the US market, to advance targeting of relevant trauma centers, CPOs and surgeons.
- Acceleration of market access in other nascent and new potential markets (EU and RoW), together with funding of working capital requirements to secure availability for end-customers and facilitate growth in selected markets.
- Expansion of product portfolio and addressable indications in the US, including investments in regulatory affairs for the submission of the PMA application for transhumeral (above-elbow) and transtibial (below-knee) amputations, as well as strengthen and accelerate research and product development capabilities for next-generation products.
The Directed Issue entails a dilution of 5.0 percent of the total number of outstanding shares and 3.8 percent of the votes in
Due to strong demand and to enable
The Board of Directors of the Company has deemed, after an overall assessment and careful consideration, that a new share issue with deviation from the shareholders' preferential rights was a more justified alternative for the Company's shareholders than a rights issue and that it was in the best interest of both the Company and its shareholders. The Board of Directors' assessment was based on the fact that the Directed Issue enabled the Company to raise capital quickly and efficiently, which in turn provides a flexibility to capture investment opportunities available to the Company in the short term, as well as to benefit from the perceived interest in the Company's share among institutional investors and broaden the institutional investor base. Conversely, a rights issue would likely have led to a prolonged process and delayed investments for the Company, along with greater market risk, adverse impact on share price and higher dilution for non-participating shareholders.
In connection with the Directed Issue, the Company has agreed not to, with customary exceptions, issue any shares for a period of 90 days after the settlement date of the Directed Issue. In addition, Company shareholders within the Company's Board of Directors and management team, have agreed not to sell any shares in
Advisers
This disclosure contains information that
For more information, please contact:
Rickard Brånemark, CEO
Phone: +46 (0) 70 846 10 61
E-mail: rickard.branemark@integrum.se
Jörgen Svanström, CFO
Phone: +46 (0) 70 734 96 60
E-mail: jorgen.svanstrom@integrum.se
Certified Adviser
About
Important information
The release, announcement or distribution of this press release may, in certain jurisdictions, be subject to restrictions. The recipients of this press release in jurisdictions where this press release has been published or distributed shall inform themselves of and follow such restrictions. This press release does not constitute an offer, or a solicitation of any offer, to buy or subscribe for any securities in
Any investment decision in connection with the Directed Issue must be made on the basis of all publicly available information relating to the Company and the Company's shares. Such information has not been independently verified by Carnegie as Sole Global Coordinator and Bookrunner. The information contained in this announcement is for background purposes only and does not purport to be full or complete. No reliance may be placed for any purpose on the information contained in this announcement or its accuracy or completeness.
This press release does not constitute or form part of an offer or solicitation to purchase or subscribe for securities in
This press release is not a prospectus for the purposes of Regulation (EU) 2017/1129 (the "Prospectus Regulation") and has not been approved by any regulatory authority in any jurisdiction.
In the
Information to distributors
Solely for the purposes of the product governance requirements contained within: (a) EU Directive 2014/65/EU on markets in financial instruments, as amended ("MiFID II"); (b) Articles 9 and 10 of Commission Delegated Directive (EU) 2017/593 supplementing MiFID II; and (c) local implementing measures (together, the "MiFID II Product Governance Requirements"), and disclaiming all and any liability, whether arising in tort, contract or otherwise, which any "manufacturer" (for the purposes of the MiFID II Product Governance Requirements) may otherwise have with respect thereto, the shares in
Furthermore, it is noted that, notwithstanding the Target Market Assessment, the Sole Bookrunner will only procure investors who meet the criteria of professional clients and eligible counterparties.
For the avoidance of doubt, the Target Market Assessment does not constitute: (a) an assessment of suitability or appropriateness for the purposes of MiFID II; or (b) a recommendation to any investor or group of investors to invest in, or purchase, or take any other action whatsoever with respect to the shares in
Each distributor is responsible for undertaking its own target market assessment in respect of the shares in
Forward-looking statements
This press release contains forward-looking statements that reflect the Company's intentions, beliefs, or current expectations about and targets for the Company's future results of operations, financial condition, liquidity, performance, prospects, anticipated growth, strategies and opportunities and the markets in which the Company operates. Forward-looking statements are statements that are not historical facts and may be identified by words such as "believe", "expect", "anticipate", "intend", "may", "plan", "estimate", "will", "should", "could", "aim" or "might", or, in each case, their negative, or similar expressions. The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurances that they will materialize or prove to be correct. Because these statements are based on assumptions or estimates and are subject to risks and uncertainties, the actual results or outcome could differ materially from those set out in the forward-looking statements as a result of many factors. 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 Company does not guarantee that the assumptions underlying the forward-looking statements in this press release are free from errors nor does it accept any responsibility for the future accuracy of the opinions expressed in this press release or any obligation to update or revise the statements in this press release to reflect subsequent events. Undue reliance should not be placed on the forward-looking statements in this press release. The information, opinions and forward-looking statements contained in this press release speak only as at its date and are subject to change without notice. The Company does not undertake any obligation to review, update, confirm or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of this press release, unless if required by law or Nasdaq First North Premier Growth Market's rule book for issuers.
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