NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN THE USA, AUSTRALIA, CANADA, HONG KONG, JAPAN OR SOUTH AFRICA OR
ANY OTHER JURSIDICTION WHERE SUCH PUBLICATION OR DISTRIBUTION IS UNLAWFUL.
Nexstim Plc successfully completes its Initial Public Offering - subscriptions
reach EUR 15.3 million with final offer price of EUR 6.35 per share
Helsinki, 4 November 2014 at 10:00 am
Nexstim Plc ("Nexstim" or the "Company") published its initial public offering
(the "Offering") on 13 October 2014, in which the Company offered for
subscription up to 2,873,563 new shares. The Company also announced that it will
apply for listing of its shares on Nasdaq First North Finland and Nasdaq First
North Sweden. The submission of the listing application was announced on 15
October 2014. On 30 October 2014 the number of offer shares was increased to
3,937,007 shares and the indicative price range was decreased to EUR 6.35 6.40
per share. Simultaneously, the subscription period was extended to 3 November
2014. The subscription period of the Offering ended on 3 November 2014 at 16:30
Finnish time (15:30 Swedish time).
On 3 November 2014 Nexstim's board of directors approved the subscriptions, the
number and allocation of new shares to be issued, and the final offer price. The
final offer price is EUR 6.35 per share. The Swedish krona denominated final
offer price, as determined in accordance with the terms and conditions of the
Offering, is SEK 58.92.
During the subscription period, investors subscribed for a total of 2,412,539
shares at the final offer price. The subscriptions were approved on the
condition that the subscribed shares will be paid in accordance with the offer
terms no later than on 7 November 2014. The Company will send allocation notices
and payment instructions to the institutional investors and the Swedish retail
investors who have been allocated shares as soon as possible. Finnish retail
investors will be returned excess subscription payments in accordance with the
terms and conditions of the Offering.
Nexstim has raised gross proceeds of EUR 15.3 million in the Offering (before
deducting the expenses of the Offering payable by the Company). The Offering was
conditional upon subscriptions reaching EUR 15 million, which has been
fulfilled. Upon completion of the Offering, Nexstim has introduced 225 new
shareholders, of whom approximately 9 % are institutional investors and
approximately 91 % retail investors. Institutional investors were allocated
approximately 95 % of the new shares and retail investors approximately 5 % of
the new shares. Of the new shares, approximately 50 % will be listed on Nasdaq
First North Finland and 50 % on Nasdaq First North Sweden. Of the new shares,
approximately 48 % will be allocated to new Finnish investors, 34 % to new
Swedish investors, and the remaining 18 % to other new international investors.
The number of issued shares in the Company will increase to 7,134,958 shares in
total. The above figures have been calculated assuming that all the shares
subscribed for and allocated to investors will be paid in accordance with the
terms and conditions of the Offering. The Company will appoint a liquidity
provider as required by the rules of the First North which appointment will be
announced separately.
Janne Huhtala, Nexstim's Chief Executive Officer, said: "The successful
completion of our Initial Public Offering, with interest from investors in
Finland, Sweden and internationally, marks a significant step for Nexstim, our
technology and the Phase III multi-centre trial for NBT in stroke rehabilitation
which continues to progress well. We are delighted to welcome our new investors
and would like to thank them, and existing shareholders, for their support."
The shares issued in the Offering are expected to be registered with the Trade
Register on or about 13 November 2014, and trading in the Company's shares on
both marketplaces is expected to commence on or about 14 November 2014, on
Nasdaq First North Finland with the ticker NXTMH and on Nasdaq First North
Sweden with the ticker NXTMS.
Pareto Securities AB acted as Lead Financial Advisor and Joint Arranger and UB
Securities Ltd acted as Financial Co-Advisor and Joint Arranger. The Company's
Certified Adviser under the First North rules is UB Capital Ltd. Krogerus
Attorneys Ltd and Advokatfirman Vinge KB acted as legal advisors to the Company
in the Offering.
Additional information on the Offering is available in the prospectus published
by Nexstim on 13 October 2014, as supplemented on 30 October 2014, available at
www.nexstim.com/IPO.
For further information please visit www.nexstim.com or contact:
Nexstim +358 40 8615046
Janne Huhtala, Chief Executive Officer janne.huhtala@nexstim.com
UB Capital Ltd +358 (9) 2538 0225
Consilium Strategic Communications +44 (0)20 3709 5700
Mary-Jane Elliott nexstim@consilium-comms.com
Amber Bielecka
Ivar Milligan
Laura Thornton
IMPORTANT NOTICE
This announcement is not a prospectus. The information contained herein does not
constitute an offer to sell or the solicitation of an offer to buy, nor shall
there be any sale of the securities referred to herein, in any jurisdiction in
which such offer, solicitation or sale would be unlawful prior to registration,
exemption from registration or qualification under the securities laws of any
jurisdiction. The Offering is made solely on the basis of the prospectus
approved by the Finnish Financial Supervisory Authority on 10 October 2014, as
supplemented on 30 October 2014, and passported by way of notification to the
Swedish Financial Supervisory Authority.
This communication is not addressed to the public in any Member State of the
European Economic Area other than Finland and Sweden. With respect to each
Member State of the European Economic Area other than Finland and Sweden (each,
a "Relevant Member State"), no action has been undertaken to date to make an
offer to the public of the securities requiring a publication of a prospectus in
any Relevant Member State. As a result, this communication is only addressed to
and directed at qualified investor in the Relevant Member States in
circumstances not requiring the Company to publish a prospectus for the purposes
of Directive 2003/71/EC (together with any applicable implementing measures in
any Member State).
This announcement is not an offer for sale nor a solicitation of an offer to buy
any securities in the United States or outside the European Economic Area. The
securities referred to in this announcement may not be offered or sold in or
into the United States of America absent registration or an exemption from
registration under the U.S. Securities Act of 1933, as amended. Nexstim has not
registered and will not register any part of its contemplated offering in the
United States nor will it offer any securities to the public in the United
States.
This communication is only being distributed to and is directed only at (i)
persons who are outside the United Kingdom, or (ii) investment professionals
falling within Article 19(5) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005 (the "Order") and (iii) high net worth
entities, and other persons to whom it may lawfully be communicated, falling
within Article 49(2) of the Order, and (iv) other persons to whom it may
otherwise lawfully be communicated (all such persons together being referred to
as "relevant persons"). Any investment or investment activity to which this
communication relates will only be available to and will only be engaged in
with, relevant persons. Any person who is not a relevant person should not act
or rely on this document or any of its contents.
Securities in the Company have not been, and will not be, registered under the
applicable securities laws of Australia, Canada, Hong Kong, Japan or South
Africa and may not be offered or sold within Australia, Canada, Japan or South
Africa or to, or for the account or benefit of, citizens or residents of
Australia, Canada, Hong Kong, Japan or South Africa except under circumstances
which will result in full compliance with the applicable laws and regulations
promulgated by the relevant regulatory authorities in effect at the relevant
time.
This announcement contains forward looking statements. These forward looking
statements include statements that are not historical facts and statements
concerning inter alia Nexstim's future revenues, financial position, financial
standing, prospects, growth, strategies and its plans, beliefs and current
expectations in relation to its field of business. By their very nature, forward
looking statements involve inherent risks and uncertainties, since they relate
to events or result from circumstances that may or may not occur in the future,
and therefore they only describe the circumstances prevailing when the statement
is given. Nexstim cautions that forward looking statements or historical facts
do not guarantee future performance and that its true revenues, financial
position and financial standing and the development of the industry may
significantly differ from the forward looking statements presented in this
release. The Company does not intend and does not assume any obligation to
update any forward looking statement contained herein.
[HUG#1868264]
Nexstim Oyj:n listautumisanti päättynyt onnistuneesti - merkintöjä kerätty 15,3 miljoonaa euroa, lopullinen merkintähinta 6,35 euroa osakkeelta
| Source: Nexstim Oyj
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