Nexstim Plc (NXTMH:HEX, NXTMS:STO) (" Nexstim " or the " Company "), a medical technology company with a pioneering navigated non-invasive brain stimulation system, announces that, pursuant to the authorisations received at the Company's extraordinary general meeting on 18 August 2016 and the financing arrangement entered into with Bracknor Investment and the Finnish Innovation Fund Sitra which was announced on 21 July 2016, the Board of Directors of the Company has today resolved on issuing 2,206,702 new shares to Bracknor with a subscription price of EUR 284,730.76 based on the stand-by equity distribution agreement (SEDA). The shares will be delivered in a following way: 911,183 shares will be transferred to Bracknor from the treasury shares, 1,025,452 shares will be issued to Bracknor as a directed issuance of shares and 270,067 shares will be first issued to Nexstim without consideration as treasury shares and then transferred to Bracknor. The new shares will be listed approximately on 25 January 2017. After the transfer described above the Company will not have any treasury shares in its possession. After the issuance, the total number of registered shares in the Company will be 57,274,738.
The share authorisations received at the Company's extraordinary general meeting on 18 August 2016 have now been fully utilized. The Company is currently negotiating the fulfilment of the remaining Bracknor SEDA, Sitra SEDA and all warrants in the arrangement with Bracknor and Sitra. The Board of Directors of the Company shall release further information concerning the results of the negotiations once a decision has been reached between the parties.
Martin Jamieson, Chairman and CEO
Further information is available on the website www.nexstim.com or by contacting:
Martin Jamieson, Chairman and CEO firstname.lastname@example.org
UB Securities Oy (Certified Adviser) +358 (0)9 2538 0246
About Nexstim Plc
Nexstim is a medical technology company which has pioneered its technology in brain diagnostics with the Navigated Brain Stimulation (NBS) system as the first and only FDA-cleared and CE-marked navigated Transcranial Magnetic Stimulation (nTMS) system for pre-surgical mapping of the motor and speech cortices. Based on the same technology platform, the Company has developed a system called Navigated Brain Therapy (NBT®) which is CE-marked for chronic neuropathic pain, major depression and stroke therapy. Nexstim's shares are listed on Nasdaq First North Finland and Nasdaq First North Sweden. For more information please visit www.nexstim.com
Last updated on: 18/01/2017
PharmiWeb.com is Europe's leading industry-sponsored portal for the Pharmaceutical sector, providing the latest jobs, news, features and events listings.
The information provided on PharmiWeb.com is designed to support, not replace, the relationship that exists between a patient/site visitor and his/her physician.