SciBase Reports on the Conclusion of Rights Issue
SciBase Holding AB (publ) is excited to share the positive results regarding its recent rights issue, demonstrating strong interest from shareholders. Recently concluded, the rights issue exhibited an impressive subscription rate of 96.4%. More than half of these subscriptions were accessed through subscription rights, showcasing robust shareholder engagement.
Details of the Rights Issue
Following the company's authorization on December 29, the rights issue allowed it to secure around 79.9 MSEK, before transaction costs. This step reflects SciBase's commitment to bolstering its financial footing while advancing its innovative dermatological solutions.
Subscription Outcomes
The rights issue concluded with a significant participation rate. Approximately 61.3% of shares were subscribed using subscription rights, while 35.1% were taken up without them. Each share in the rights issue was priced at SEK 0.20, demonstrating competitive market considerations.
Set-Off Issue and Its Implications
In addition to the rights issue, SciBase has initiated a set-off issue of shares, which totals 209,075,476 at the same subscription price of SEK 0.20 per share. This strategic move enables the company to offset certain receivables from its TO 2 offer.
An Overview of the TO 2 Offer
The TO 2 offer, which encouraged the exchange of TO 2 warrants for new shares, saw participation from a significant number of warrant holders, affirming investor confidence in the company. An impressive 418,150,952 warrants were accepted, translating to an acceptance rate of approximately 83.9%. This action further dilutes the outstanding warrants to 80,383,883.
Impact on Share Capital and Trading
The rights issue led to a rise in the total number of shares by 399,271,881, with the set-off issue adding another 209,075,476. This translates to a substantial increase in total shares, culminating in 1,022,530,000 outstanding shares. The total share capital will also witness a notable boost of approximately 30.4 million SEK.
Future Trading Opportunities
Investors should note that the trading of new shares issued through both the rights and set-off issues will commence on Nasdaq First North Growth Market soon. Trading in BTAs is anticipated to conclude around mid-February, positioning the company favorably in the market.
Company Strategy and Vision
SciBase continues to focus on innovation within dermatology, promoting early detection through advanced diagnostic tools. This strategic expansion aims not only to improve patient outcomes but also to reduce healthcare costs significantly. SciBase recognizes that its success is rooted in addressing immediate healthcare challenges through cutting-edge technology.
Commitment to Shareholders
With strong backing from financial advisors such as Bergs Securities and Birchtree Advisory, SciBase is navigating these transitions with a keen focus on shareholder value. The company is committed to fostering open communication with investors, ensuring they stay informed about future developments and opportunities.
Frequently Asked Questions
What is the subscription rate for the recent rights issue?
The subscription rate for the rights issue was 96.4%, indicating strong participation from shareholders.
How much does SciBase expect to raise from the rights issue?
SciBase expects to raise approximately 79.9 MSEK from the rights issue before transaction costs.
What is the purpose of the set-off issue?
The set-off issue allows the company to offset certain receivables related to the TO 2 offer, enhancing its financial structure.
What changes occurred in the company's total share capital?
The total share capital will increase by about 30.4 million SEK following the recently completed rights issue and set-off issue.
What is SciBase's primary focus?
SciBase is committed to advancing medical technology in dermatology, focusing on early detection and proactive skin health management.
