SciBase Announces Capital Raise of Approximately SEK 81.8 Million

SciBase's Strategic Capital Raise

The Board of Directors of SciBase Holding AB (publ) has made a significant move by deciding to execute a capital raise totaling around SEK 81.8 million. This initiative includes a directed issue comprising unit rights and a rights issue, enhancing the company's financial positioning in a competitive landscape.

Components of the Capital Raise

Directed Issue Details

The directed issue is specifically aimed at generating approximately SEK 22.5 million. This capital will support the company's strategic initiatives and enhance their investor base by attracting new long-term shareholders. Various investors, including notable names such as Maria Anderkvist and Praktikerinvest Aktiebolag, have committed to this phase of the raise.

Rights Issue Overview

In addition to the directed issue, the company is offering a rights issue expected to raise up to SEK 59.3 million. Existing shareholders will receive preferential treatment, allowing them to acquire additional shares, ensuring their continued support and investment in SciBase.

CEO's Perspective on the Capital Raise

Pia Renaudin, the CEO of SciBase, shared her thoughts on this development: "Our existing owners, together with new participants in the directed issue, are solidifying our financial position. Despite the challenging market climate, we have integrated new long-term owners without discounting our stock. Our focus is on the U.S. market, where we see substantial growth potential and high interest among clinics for our Nevisense product. This capital raise empowers us to enhance cancer diagnostics fully. We believe that timely intervention can minimize the number of patients who delay their cancer diagnosis, ultimately saving lives."

Understanding Nevisense and Its Impact

SciBase specializes in early detection and prevention in dermatology through its innovative product, Nevisense. This unique platform leverages AI and advanced Electrical Impedance Spectroscopy (EIS) technology to improve diagnostic accuracy. Nevisense aims to empower healthcare providers to swiftly and accurately establish diagnoses, facilitating faster interventions that can significantly enhance patient outcomes, particularly in the realm of skin diseases, including skin cancer.

The U.S. Market and Future Expansion Plans

Entering the U.S. market signifies a major focus for SciBase, as it represents a significant portion of their growth strategy. By strengthening their sales force and establishing operational representation in five regions, they aim to showcase the remarkable growth potential of Nevisense, which has already seen impressive sales growth in recent years.

Objectives for Capital Application

The proceeds from this capital raise are earmarked for specific purposes including financing further commercialization efforts in the U.S., enhancing production capabilities, and supporting overall operational growth. The strategic use of funds will enable SciBase to establish its market share effectively and drive revenues in both U.S. and European markets.

Anticipated Timeline and Future Developments

The timeline set forth for the rights issue includes key milestones, starting with an extraordinary general meeting held for shareholder approval followed by a series of trading dates for both units and rights. These phases are crucial for ensuring investor engagement and capital influx that supports ongoing projects.

Seeking Future Growth Opportunities

In light of predicted growth, SciBase is committed to exploring new markets and opportunities for expansion. Their ongoing research collaborations and product launches in dermatology signal their desire to stay at the forefront of medical technology and diagnostics. This flexibility allows for innovation in product development aligned with market needs.

Frequently Asked Questions

What is the overall goal of the capital raise?

The goal is to enhance SciBase’s financial position, expand market presence, particularly in the U.S., and enable further development of their innovative dermatological technology, Nevisense.

How will the raised funds be utilized?

Funds will primarily be used for commercialization growth in the U.S., product development, and working capital for ongoing operations such as marketing and sales.

Who are the main investors participating in the issues?

Key investors include Maria Anderkvist, Praktikerinvest Aktiebolag, and several others who have demonstrated long-term interest in supporting SciBase's growth.

What is Nevisense?

Nevisense is a cutting-edge diagnostic tool that uses AI and Electrical Impedance Spectroscopy to improve the detection and diagnosis of skin cancer and other skin diseases.

What are the expected future growth markets?

SciBase is focusing on expanding into not only the U.S. market but also into selective European markets that include Germany, Switzerland, Austria, and potentially others as resources allow.

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