On May 21, 2018, Medirätt announced that the company and European Select Growth Opportunities Fund (the "Investor") had 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. The parties have just entered into an amendment agreement further governing the issuance of the first tranche of funding, which will amount to SEK 2.5 million of convertibles corresponding to half the SEK 5 million tranche initially provided.
Based on this as well as the authorization to issue convertibles approved by the annual general meeting of shareholders on 11 April 2018, the board of directors of Medirätt has resolved to issue convertible bonds in the nominal amount of SEK 2.5 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. The full terms and conditions of the convertibles will be published on Medirätt's website, as well as a follow-up table indicating the conversions and the number of convertibles outstanding, http://www.mediratt.com/.
In order to facilitate the administrative process in relation to this first tranche, the Investor and Medirätt have agreed that no warrants will be issued in connection with this tranche of convertibles. Instead, the warrants related to these SEK 2.5m convertibles will be issued when the remainder SEK 2.5 million convertibles are issued, or, if such issue does not take place within six months, after six months.
Without change, the warrants will be listed on Nasdaq First North and will be issued free of charge to the Investor as well as to the existing shareholders (pro rata to their shareholdings).
Also, the company's call for new tranches under the agreement with the Investor is still subject to the same initial conditions, including in particular conditions relating to the level of the price and liquidity of Medirätt's shares of class B, and that the Investor's total holding of convertibles and warrants in Medirätt does not exceed a certain level.
Please contact CEO Carl Johan Merner
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 June 13, 2018 at 09.00 CET.
The following documents can be retrieved from beQuoted
MediRatt Pressrelease 2018-06-13 English.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, 08-463 80 00, is the company's Certified Adviser. Further information is available at www.mediratt.com.