25 Jun, 2019 · In News
18 Oct, 2019 · In Press Releases
World’s first soft robotic muscle strengthening system. Developed in collaboration with leading Fortune 500 companies
03 Oct, 2019 · Regulatory information
Bioservo Technologies AB's (publ) ("Bioservo" or the "Company") rights issue with preferential rights for the shareholders (the “Rights Issue") ended on September 30, 2019. The interest to participate was significant and in total the Rights issue was subscribed to 156.3 percent. Thus the company obtains SEK 64.3 million before issue costs. Those who have been allocated shares without the support of subscription rights will soon be notified by contract note alternatively through their nominee.
The subscription period for the Rights Issue ended on September 30, 2019 and the summary shows that 5 201 715 shares, corresponding to 97.0 percent, were subscribed for by the exercise of subscription rights. In addition, the Company received interest from investors regarding the subscription of an additional 3 179 729 shares without the support of subscription rights, corresponding to 59.3 percent. Thus the Rights Issue is heavily oversubscribed and no underwriting agreements will be utilized. Bioservo will receive SEK 64.3 million before issue costs amounting to SEK 5.6 million. Notification of allotment of shares subscribed for without exercising subscription rights will shortly be sent to those who have been allotted shares via contract note. Nominee shareholders receive notification of allotment in accordance with the respective nominee's routines. Allocation of shares subscribed for without the exercise of subscription rights has been carried out in accordance with the principles stated in the prospectus that was published on September 12, 2019.
“It is extremely gratifying that so many existing and new shareholders have shown such great interest in investing in Bioservo and we want to express our gratitude. We have now financially secured Bioservo's ability to vigorously process the market over the next few years, and I look forward with confidence to that Ironhand will become a natural preventive equipment for employees with demanding work tasks in the industry and to take the next generation of Carbonhand and later also Ironarm to commercial launch”, says Petter Bäckgren, CEO Bioservo.
Share capital and number of shares
After the Rights Issue is registered with The Swedish Companies Registration Office the Company’s share capital will increase with SEK 1 072 374,00 to SEK 2 859 664,20. The number of shares will increase with 5 361 870 shares to 14 298 321 shares.
Trading in BTA
Trading in paid subscribed shares (BTA) will take place on Nasdaq First North Growth Market until the week after the Rights Issue has been registered with the Swedish Companies Registration Office. Registration of the Rights Issue is at the latest expected to take place during week 43, 2019.
Erik Penser Bank AB is financial advisor and Advokatfirman Glimstedt is legal advisor to Bioservo in connection with the Rights Issue.
For further information please contact:
+46 8 21 17 10
+46 8 21 17 10
The information in this press release is such that Bioservo Technologies AB (publ) is obliged to publish in accordance with EU Regulation on Market Abuse (MAR). The information was submitted for publication through the agency of above contact persons for publication on 3 October 2019 at [7:00] p.m. CEST.
About Bioservo Technologies AB
Bioservo Technologies (publ) is a technology and development company that combines medical science with modern robotics. The company holds a leading global position within soft exoskeleton technology –wearable non-invasive devices –for people in need of extra power to optimize the body’s endurance and performance, or for people with reduced muscle strength.
Bioservo Technologies AB was founded in 2006 in collaboration between researchers at the Royal Institute of Technology and a doctor at Karolinska Hospital. Bioservo Technologies is a Swedish public limited company with headquarters in Stockholm.
FNCA Sweden AB, +46(0)8-52800399, firstname.lastname@example.org is the Company’s Certified Adviser on Nasdaq First North Growth Market.
For more information, please visit www.bioservo.com