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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


Posted on: 28 Nov 16

 

Company announcement, Helsinki, 28 November 2016, at 6 pm

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 4,109,223 new shares to Bracknor with a subscription price of EUR 999,999.96 based on the stand-by equity distribution agreement (SEDA).  The Board of Directors of the Company has also decided to issue 999,371 treasury shares to the Company itself without consideration and list the afore mentioned shares. The new shares will be listed approximately on 1 December 2016. After the transfer the Company will have 3,218,445 treasury shares. After the issuance, the total number of registered shares in the Company will be 32,184,452.

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

Consilium Strategic Communications                                                                     +44 (0)20 3709 5700
Mary-Jane Elliott / Ivar Milligan                                                           nexstim@consilium-comms.com

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

 

Attachments:

http://www.globenewswire.com/NewsRoom/AttachmentNg/27adec5a-6bc1-4ad0-b977-2eacdd103dbb

GlobeNewswire
globenewswire.com

Last updated on: 29/11/2016

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