Sequana Medical Enhances Share Capital and Expands Share Count
Sequana Medical Announces New Share Capital Amount
Sequana Medical NV (Euronext Brussels: SEQUA), a leader in addressing drug-resistant fluid overload, has recently revealed crucial updates regarding its share capital and outstanding shares. This development follows a subscription of new shares by GEM Global Yield LLC SCS, which has led to a substantial increase in the company's financial foundations.
Significant Increase in Share Capital
As of the announcement, Sequana Medical's share capital increased from EUR 5,664,269.96 to EUR 5,927,258.66. This uplift is attributed to the issuance of 2,538,501 new shares, bringing the total number of issued and outstanding shares to 57,209,575. This strategic move highlights Sequana Medical's proactive steps in strengthening its capital base to support ongoing and future projects.
Overview of the Share Issuance
The new shares were issued at an approximate price of EUR 0.9051 each as part of an arrangement facilitated by GEM. This adjustment reflects the ongoing collaboration between Sequana Medical and its shareholders, ensuring that the company is well-positioned to continue its innovative pursuits in the medical field.
Current Subscription Rights and Future Prospects
Sequana Medical currently holds a total of 7,519,576 outstanding subscription rights. These rights enable holders, upon exercising them, to subscribe for up to 8,686,304 new shares with voting power. The breakdown of share options available to various employee plans is noteworthy:
- Executive Share Options allow for the potential issuance of 261,895 new shares.
- The 2018 Share Options plan supports the issuance of 687,784 new shares.
- The 2021 Share Options offers an opportunity for an additional 188,370 new shares.
- The 2023 and 2025 Share Options plans could collectively add up to 2,000,000 new shares.
- Lastly, Bootstrap and Kreos Warrants allow for significant future share issuance upon their exercise, ensuring robust participation in company growth.
Commitment to Innovation in Healthcare
Sequana Medical is committed to developing new medical solutions for patients suffering from fluid overload due to liver disease, heart failure, and cancer. The company's high-level research has led to innovative products like the alfa pump and DSR therapy, aimed at improving patient care while remaining cost-effective for healthcare systems.
Path to US Commercialization
The Company is gearing up for the US market, particularly after receiving FDA approval for the alfa pump system for treating recurrent or refractory ascites. The plan includes launching US commercialization efforts through a dedicated sales force targeting leading liver transplant centers. This move signifies a pivotal moment for Sequana Medical as it expands its reach into the American healthcare landscape.
Recent Scientific Validation
Recent proof-of-concept studies related to the company's DSR therapy have shown promising results, further solidifying Sequana Medical's position as a forerunner in innovative treatments. The positive outcomes observed in the studies present a compelling case for the efficacy of their offerings, further entrenching the company's goal to deliver quality care to patients.
Contact Information
For additional information or inquiries, interested parties can reach Sequana Medical's investor relations team at IR@sequanamedical.com or call +32 9 292 8065.
Frequently Asked Questions
What is Sequana Medical's recent announcement about share capital?
Sequana Medical announced an increase in its share capital from EUR 5,664,269.96 to EUR 5,927,258.66 due to the issuance of new shares.
How many new shares were issued by Sequana Medical?
A total of 2,538,501 new shares were issued, raising the total number of outstanding shares to 57,209,575.
What is the purpose of the GEM subscription?
The GEM subscription facilitates Sequana Medical's capital increase and supports its innovative healthcare projects.
What treatment options does Sequana Medical offer?
Sequana Medical focuses on treating drug-resistant fluid overload in conditions like liver disease and heart failure, primarily through its alfa pump and DSR therapy.
When does Sequana Medical plan to start US commercialization?
The company intends to initiate US commercialization of its FDA-approved alfa pump system by Q3 2025.
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