Sequana Medical Communicates Significant Changes in Capital
Sequana Medical NV, an innovative company focused on treating fluid overload in conditions such as liver disease, heart failure, and cancer, has officially increased its share capital and number of shares outstanding. This move aims to enhance the company's financial position and expand its capabilities in providing life-changing treatments.
Details of the Capital Increase
Recently, Sequana Medical announced that following a contribution in kind involving outstanding receivables relating to a loan agreement, its total share capital rose from EUR 4,196,650.60 to EUR 4,603,936.18. The number of ordinary shares issued has also grown, now totaling 44,436,192 from a previous 40,504,864 shares. This increase was facilitated through the issuance of 3,931,328 new shares at a share price of EUR 0.665.
Subscription and Outstanding Rights
Currently, there are 4,570,591 outstanding subscription rights. If exercised, these rights would enable the issuance of up to 5,485,289 additional shares with voting rights. The breakdown of these rights includes:
- Up to 261,895 new shares from 90,780 ongoing executive share options.
- Up to 687,784 new shares issuable under the 2018 share options plan.
- Up to 805,723 new shares from the 2021 share options plan.
- Up to 1,000,000 shares from the 2023 share options plan.
- 302,804 new shares to Bootstrap Europe upon the exercise of outstanding warrants.
- 1,315,789 new shares linked to Kreos warrants.
- Up to 1,111,294 new shares from the subscription rights issued by the board earlier this year.
Regulatory Compliance and Next Steps
This announcement adheres to Article 15 of the Belgian Act concerning the disclosure of significant participations in publicly traded companies. Sequana Medical is committed to transparency in its operations and share movements as it navigates the regulatory landscape.
About Sequana Medical and Its Product Offering
Sequana Medical NV is dedicated to developing innovative solutions for patients with fluid overload, a condition that can lead to increased mortality and hospitalizations. Commonly, diuretics are the standard care approach, yet these can often prove ineffective or intolerable for many. The company aims to provide viable treatment alternatives for patients resistant to traditional diuretics, revolutionizing their quality of life.
The company’s alfapump® and DSR® systems are tailored to work harmoniously with the body, effectively addressing fluid overload issues. These products have shown promise in clinical settings, demonstrating significant benefits for patients while simultaneously moderating healthcare costs.
Sequana Medical is currently in the final stages of its PMA application for alfapump, which has garnered acceptance for review by the US FDA. The company expects market approval ahead of the first quarter of the following year, with plans for a commercial launch later in the second half.
Research and Development Progress
The results from recent clinical studies, including the RED DESERT and SAHARA trials, show that DSR can effectively break the cycle of cardiorenal syndrome in patients with heart failure. Promising outcomes from the MOJAVE study have led to the independent Data Safety Monitoring Board’s approval to extend the randomized cohort, aiming to treat more patients following alfapump’s anticipated approval.
Contact Information
For further inquiries, Sequana Medical invites stakeholders to reach out to their investor relations team via email or phone:
Sequana Medical Investor Relations
E: IR@sequanamedical.com
T: +32 (0)9 496 17 27
Frequently Asked Questions
What is the new share capital amount for Sequana Medical?
The new share capital amount for Sequana Medical is EUR 4,603,936.18.
How many shares are currently outstanding?
There are currently 44,436,192 ordinary shares outstanding.
What are the main products offered by Sequana Medical?
Sequana Medical offers alfapump® and DSR®, which are designed to treat fluid overload in patients.
What is the aim of Sequana Medical's recent capital increase?
The aim is to enhance financial resources to support the development and commercialization of innovative treatments.
How can I contact Sequana Medical for more information?
You can contact Sequana Medical’s investor relations via email at IR@sequanamedical.com or by phone at +32 (0)9 496 17 27.
