RaySearch Laboratories AB Seeks Institutional Share Placement

RaySearch Laboratories AB Plans Share Placement

Johan Löf, the CEO and Founder of RaySearch Laboratories AB, has announced an important step as he prepares to sell approximately 2 million class B shares of the company. This significant move represents about 6% of the total shares of RaySearch Laboratories AB. The shares are being offered to institutional and qualified investors through a structured placement designed to enhance liquidity.

Details of the Share Placement

The placement will be conducted via an expedited bookbuilding process managed by Skandinaviska Enskilda Banken AB (SEB), which serves as the Sole Global Coordinator and Bookrunner for this transaction. The entire bookbuilding process aims to finalize share agreements swiftly, making it efficient for both buyers and the seller.

The process of converting the shares from class A to class B is set to be completed before the finalization of the sale. Should all planned shares be sold, Johan Löf will retain around 3.4 million class A shares and a small number of class B shares, representing roughly 10% of the total shares and a commanding 40% of voting rights in the company. This illustrates Löf's continued strong stake and commitment to RaySearch Laboratories.

Background on Johan Löf and RaySearch Laboratories

Founded in 2000, RaySearch Laboratories has been at the forefront of medical technology advancements. Johan Löf, who has helmed the company as its CEO and Board member since its inception, plans this share placement primarily to ensure liquidity while still affirming his loyalty and commitment to the company.

Despite this sale, Löf has publicly declared that he is dedicated to leading the firm and has entered into a lock-up agreement to maintain his remaining shares for 500 days. This guarantees a continued leadership presence during a pivotal time for the company.

Market Implications and Future Prospects

As the bookbuilding begins, the decision tree regarding the precise number of shares to sell will hinge on market conditions and investor interest. This plan is not merely a financial transaction; it represents a strategic development for RaySearch Laboratories, positioning it favorably among competitors in the health technology sector.

The financial community will closely monitor the dynamics of this placement, as it not only reflects the confidence of its leadership but also sends a message to potential investors regarding the value and potential growth of RaySearch Laboratories. The accelerated bookbuilding could result in swift changes, depending on investor responses and interest level.

Stakeholder Engagement and Legal Oversight

Alongside SEB, other legal advisors include Mannheimer Swartling for the company and Baker & McKenzie for the seller. Each firm brings significant expertise to ensure the process adheres to all legal requirements and protects investor interests.

Note that this announcement complies with relevant financial regulations, aimed at maintaining transparency with shareholders and investors. Following the completion of the bookbuilding, further announcements will detail this significant corporate action.

Frequently Asked Questions

What is the purpose of the share placement?

The main goal is to provide liquidity to Johan Löf while maintaining his commitment to the company.

Who is responsible for conducting the placement?

Skandinaviska Enskilda Banken AB (SEB) is acting as the Sole Global Coordinator and Bookrunner for the placement.

What percentage of RaySearch Laboratories shares does Johan Löf plan to retain?

Post-placement, Johan Löf aims to retain approximately 10% of total shares and 40% of voting rights.

How does this placement impact RaySearch Laboratories?

This move indicates confidence in the company's market position and potential growth prospects, as well as providing liquidity.

What should investors expect during the bookbuilding process?

Investors should anticipate rapid developments as the bookbuilding process can be completed quickly depending on demand.

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