Press release, Helsinki, 6 June 2017, there is a 19.00
Nexstim Plc (NXTMH:HEX, NXTMS:STO) (“Nexstim” or the “company“), a medical device company that developed and markets a ground-breaking system to navigate a non-invasive brain stimulation for therapeutic and diagnostic applications, announces that the Nexstim Plc’s board of directors has today decided on a rights issue of 1 475 244 shares to the Finnish innovation foundation Sitra, the aggregate subscription price of sek 285 526,10€. The rights issue is in accordance with the befullmäktigandet given by the extraordinary general meeting of 20 February 2017, and the agreement on a reservdistribution of equity (SEDA-agreement) with Bracknor Investment and the Finnish innovation foundation Sitra published July 21, 2016. The new shares will be noted an estimated 12 June 2017. After the rights issue, the total number of registered shares in the company to 86 053 694.
After this issuance, the company will have received approximately 1.8 million in funding from the innovation fund with the support of the SEDA agreement. In addition, all of the SEDA agreement intended 5 000 000 shares which have been allocated to the innovation fund in connection with the February 20, held extraordinary general meeting of shareholders established and the authorisations granted by the extraordinary general meeting has been used in its entirety. The 21 July 2016 published finansieringsarrangemanget has now been completed, apart from the use of the warrants issued in connection with the arrangement. The unused warrants entitle to subscription of a maximum of 31 801 597 shares in the company at a subscription price that varies between 0,2773-0,8539 euros per share. The subscription of all the shares which the warrants entitle holders to, for the subscription price determined for the warrants, would amount to a total value of about € 14.3 million.
Martin Jamieson, chairman of the board and ceo
Additional information is available on the website
or per telephone:
Nexstim +44 771 516 39 42
Martin Jamieson, chairman of the board and ceo firstname.lastname@example.org
UB Securities Oy (Certified Adviser) +358 (0)9 2538 02 46
Citigate Dewe Rogerson +44 (0)207 2821066
Katja Stout email@example.com
About Nexstim Plc
Nexstim is a medical device company that developed and markets a ground-breaking system to navigate a non-invasive brain stimulation for therapeutic applications (NBT®system) and diagnostic applications (NBS-system). Nexstims NBS system is the first and only FDA-approved and CE-marked system to navigate transcranial magnetic stimulation (navigated Transcranial Magnetic Stimulation, nTMS) for mapping of the areas of motor skills and speech in the brain before a surgical procedure.
On the same technology platform the company has developed a system to navigate hjärnterapi (Navigated Brain Therapy, NBT®), which has received CE marking for the treatment of stroke, severe depression and chronic neuropathic pain. The NBT®system is currently undergoing additional Phase III trials (E-FIT) with 60 patients. Nexstim expects the trial ends the second quarter of 2018 and that the company then can request for authorization from the FDA. With the approval from the FDA would Nexstim able to begin marketing and selling the NBT®system for the treatment of stroke in the united states.
Nexstims shares are listed on Nasdaq First North Finland and Nasdaq First North Sweden. More information is available at www.nexstim.com.
The issuance of shares to the Finnish innovation fund Sitra