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Press Release

Nexstim Plc issues shares in standby equity distribution agreement pursuant to the financing arrangement announced on 21 July 2016

Nexstim Oyj
Posted on: 02 Nov 16

 

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.

NEXSTIM PLC
Martin Jamieson, Chairman and CEO

Further information is available on the website www.nexstim.com or by contacting:

Nexstim                                                                                                                                     +447715163942
Martin Jamieson, Chairman and CEO                                                   martin.jamieson@nexstim.com
                                                                                                                                                                                
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

 

Nexstim Plc


This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Nexstim Oyj via GlobeNewswire
HUG#2071750
GlobeNewswire
globenewswire.com

Last updated on: 18/01/2017

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