In This Article:
Company announcement, Helsinki, 18 June 2018 at 9:00 am
Nexstim raises EUR 0.96 million via a directed issue of new shares to Capricorn Health-tech Fund - Funds to be used to support the commercialisation of its NBT® system
Nexstim Plc (NXTMH:HEX, NXTMS:STO) ("Nexstim" or "Company"), the targeted neuromodulation company developing and marketing pioneering navigated non-invasive brain stimulation systems for both therapeutic and diagnostic application, announces that it is raising new equity financing of the gross amount EUR 0.96 million via a directed issue of new shares to a Belgium-based Capricorn Health-tech Fund.
The Company`s Board of Directors resolved to issue up to 4,000,000 new shares at a subscription price of EUR 0.24 per share, resulting in an aggregate subscription price of EUR 960,000 (before any expenses relating to the share issue) representing approximately 4.1 per cent of all the shares in the Company after the registration. The new shares will be issued based on an authorisation received at the Company`s Annual General Meeting on 28 March 2018. The subscription price shall be recorded in its entirety into invested unrestricted equity fund.
The new shares are expected to be registered with the Finnish Trade Register on or about 20 June 2018 and are expected to be listed on First North Finland and First North Sweden on or about 21 June 2018. After the issued shares have been registered with the Finnish Trade Register, the total number of registered shares in the Company will be 97,531,529.
Nexstim plans to use this financing for commercialisation of its NBT® system in the US and Europe. The NBT® system is based on Nexstim`s unique SmartFocusTM TMS technology which allows for targeted, reproducible brain stimulation in therapy.
Commenting on the share issue, Martin Jamieson, Chairman and CEO, Nexstim Plc stated: "We are very pleased to receive the new funds from our long-term investor Capricorn Health-tech Fund. Their support reflects confidence in our strategy to commercialise our NBT® system for stroke, depression and pain, major indications where there are clear needs for improved treatment approaches."
NEXSTIM PLC
Martin Jamieson, Chairman and CEO
Further information is available on the website www.nexstim.com or by contacting:
Nexstim Martin Jamieson, Chairman and CEO +44 77 1516 3942
martin.jamieson@nexstim.com
Sisu Partners Oy (Certified Adviser) +358 (0)10 231 4560
Citigate Dewe Rogerson +44 (0)207 2822949
David Dible/Shabnam Bashir/Isabelle Andrews david.dible@citigatedewerogerson.com
About Capricorn Venture Partners
Capricorn Venture Partners is an independent European manager of venture capital and equity funds,
investing in innovative European companies with technology as competitive advantage. The investment team of Capricorn is composed of experienced investment managers with deep technology expertise and a broad industrial experience. Capricorn Venture Partners is investing out of the venture capital funds Capricorn Health-tech Fund, Capricorn ICT Fund, Capricorn Sustainable Chemistry Fund and Capricorn Cleantech Fund. In addition it is the management company of Quest for Growth, quoted on NYSE Euronext Brussels, and the investment manager of Quest Cleantech Fund, sub-fund of Quest Management SICAV.