Den 21 maj 2018 meddelade MediRätt att bolaget och European Select Growth Opportunities Fund ("Investeraren") hade ingått ramavtal om finansiering genom utgivning av konvertibler till ett värde om högst 50 MSEK över 18 månader. En första tranche om 2,5 MSEK emitterades den 13 juni 2018. Samtliga konvertibler i den första tranchen har omvandlats till aktier och stärker bolagets egna kapital.
On May 21, 2018, MediRätt and European Select Growth Opportunities Fund (the "Investor") signed an agreement under which MediRätt may issue convertible bonds in several tranches for a total maximum amount of SEK 50 million over 18 months. A first tranche of SEK 2.5 million has been issued on June 13, under which all the convertibles have been converted into shares as of today, strengthening the company's equity.
Today, MediRätt has called upon a second tranche of convertibles and the Investor has agreed to increase the size of this second tranche from SEK 2.5m (as initially provided in the amendment signed on June 12) to SEK 4.5m, to further support the company's needs in the ongoing commercialization phase and process to obtain the CE mark for Dosell. The board of directors of MediRätt has therefore resolved to issue convertible bonds in the nominal amount of SEK 4.5 million to the Investor. Conversion may take place during a 12-month period from the date of the registration of the convertibles with the Swedish Companies Registration Office.
As provided under the agreement and its amendment signed on June 12, the board of directors of MediRätt has also resolved to issue warrants TO6 to the Investor and to the company's shareholders, free of charge. 430,851 warrants will be issued to the Investor and 426,692 to the company's shareholders to mitigate dilution, pro rata to their shareholdings.
1 warrant TO6 will be granted for every 31 shares held on the record date. MediRätt will communicate later on the record date and allocation date of the shareholders warrants.
The warrants give right to subscribe for 1 share in MediRätt at an exercise price of SEK 9.40 until the 3-year anniversary of their registration and will be listed on Nasdaq First North as from their registration.
It is reminded that the company's call for new tranches under the agreement with the Investor is at the company's discretion, and subject to the following main conditions, which can be waived by the Investor:
- the convertibles of the previous tranches shall have been completely converted or redeemed;
- no material adverse change or event of default shall have occurred;
- no impossibility for any convertible to be converted shall have occurred;
- the closing price and the daily VWAP of the shares on each of the 5 preceding trading days shall be at least equal to SEK 5.00;
- the daily value traded of the shares on each of the 10 preceding trading Days shall be at least equal to SEK 300,000 (trades labelled as 'XT' on Bloomberg will all be excluded from this calculation); and
- post subscription of the tranche being requested by the company, the Investor shall not hold, directly or indirectly, more than 10% of the fully diluted number of shares.
The full terms and conditions of the convertibles and the warrants will be published on MediRätt's website, together with the follow-up table indicating the conversions and the number of convertibles and warrants outstanding, http://www.mediratt.com/.
Stockholm 2018-11-09
Contact CEO Carl Johan Merner:
MediRätt AB (publ.)
Stockholmsvägen 33
181 33 Lidingö
+ 46 (0)8 765 66 33
mediratt.com
This information is such that MediRätt AB is obligated to disclose in accordance with the EU Market Abuse Regulation (MAR). The information was submitted for publication on November 9 2018 at 16.35 CET.
The following documents can be retrieved from beQuoted
MediRatt Pressrelease 2018-11-09.pdf
About MediRätt AB (publ.)
MediRätt is a Swedish medical technology company that develops digital solutions for safer medication and drug dispensing. The company was founded in 2008 by general physician Göran Sjönell and industrialist Sten Röing. MediRätt has developed the patented digital drug dispensing machine Dosell, as well as a series of applications that together form a unique overall concept to ensure that elderly and multi-medicating patients receive reliable and safe medication.
The company is listed on NASDAQ First North Premier. Erik Penser Bank, +46 (0)8 463 80 00, is the company's Certified Adviser. Further information is available at mediratt.com.