Sequana Medical Increases Share Capital and Issues New Shares
Sequana Medical Increases Share Capital
Sequana Medical NV, a prominent name in treating fluid overload related to liver disease, heart failure, and cancer, has announced a significant increase in its share capital. This change comes as part of a strategic move involving the conversion of certain receivables, contributing a total of EUR 963,000. This increase raises the share capital from EUR 5,930,366.66 to EUR 6,064,033.87, showcasing the company's commitment to growth and innovation.
Details of New Shares Issued
Alongside the capital increase, Sequana Medical has also raised the total number of issued and outstanding shares from 57,239,575 to 58,529,799. The Company has issued a total of 1,290,224 new shares as per the terms defined in its convertible loan agreement. This strategic step not only enhances the company's capital structure but also strengthens its position in the market.
Outstanding Subscription Rights
Currently, there are 7,489,576 outstanding subscription rights. If fully exercised, these rights would allow the subscription of up to 8,656,304 new shares with voting rights. This includes various options from different share options plans, each designed to incentivize employees and key stakeholders as follows:
Executive Share Options
Under the 'Executive Share Options' plan, up to 261,895 new shares may be issued through the exercise of 90,780 options, reflecting the Company's commitment to its leadership team.
2018, 2021, 2023, and 2025 Share Options
Additionally, the 2018 Share Options plan may allow for the issuance of up to 687,784 new shares, the 2021 plan may yield another 188,370 new shares, and the 2023 and 2025 plans may provide for 1,000,000 shares each. These plans are crucial in motivating directors and employees, solidifying their contributions to the Company's vision.
Bootstrap and Kreos Warrants
Furthermore, the Bootstrap Warrants could potentially issue up to 302,804 new shares. Meanwhile, Kreos Capital may access 1,567,819 shares via the exercise of its warrants, further enhancing Sequana Medical's liquidity and market strength.
Innovations and Market Strategy
Sequana Medical NV is addressing a critical need within the medical community by pioneering solutions for fluid overload, which frequently affects patients with severe conditions. Traditional treatments such as diuretics often fall short or become intolerable. Thus, Sequana's focus is on its innovative platforms, alfa pump® and DSR®, designed to tackle diuretic-resistant fluid overload effectively. These treatments aim to improve patients' quality of life while also alleviating pressure on healthcare systems.
With the recent regulatory approvals in place, including the US FDA approval for the alfa pump System, Sequana Medical is gearing up for commercialization efforts expected to commence shortly. This strategic initiative aims at targeting the 90 leading liver transplant centers in the USA, which perform the majority of such procedures.
The outcomes from the Company’s clinical research, particularly the RED DESERT and SAHARA studies, indicate promising results. These studies reinforce DSR's mechanism as an effective intervention in breaking the cycle of cardiorenal syndrome—highlighting its potential in real-world applications.
Commitment to Stakeholders
Sequana Medical is committed to providing transparent information to its stakeholders. This announcement is in accordance with the relevant regulations governing market disclosures, affirming their pledge to keep shareholders informed about significant developments within the Company.
For inquiries or further information, stakeholders and interested parties can reach out directly to Sequana Medical's investor relations team. Their dedicated staff are eager to provide detailed insights and updates concerning the Company’s progress and initiatives.
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