Brief: Biovica Resolves On Partially Guaranteed Rights Issue Of SEK 120 Mln

Biovica International AB

23/10/2023 07:10

Oct 23 (Reuters) - Biovica International AB
 BIOVICb.ST :
    * BIOVICA RESOLVES ON A PARTIALLY GUARANTEED RIGHTS ISSUE OF
UNITS
CORRESPONDING TO APPROXIMATELY SEK 120 MILLION AND ANNOUNCES
TARGET TO BE CASH-FLOW POSITIVE MID-2025
    * SUBSCRIPTION PRICE IN RIGHTS ISSUE HAS BEEN DETERMINED BY
BOARD
OF DIRECTORS AND HAS BEEN SET TO SEK 28.71 PER UNIT
    * RIGHTS ISSUE IS COVERED TO APPROXIMATELY 83.8 PERCENT,
CORRESPONDING TO APPROXIMATELY SEK 100 MILLION
    * PURPOSE OF RIGHTS ISSUE IS TO FINANCE COMMERCIALIZATION OF
DIVITUM TKA IN US AND EUROPEAN MARKETS
    * WILL FOCUS IN NEAR-TERM SOLELY ON  COMMERCIALIZATION OF
DIVITUM
AND  CDX OPPORTUNITY
    * NO INDICATION EXPANSION WILL BE PURSUED IN NEAR-TERM
WITHOUT
CUSTOMER FINANCING
    * SIGNIFICANT COST SAVINGS, ESTIMATED TO APPROXIMATELY SEK
40
MILLION OVER COMING TWO YEARS
    * ESTABLISHED ADDITIONAL COMMERCIAL TARGETS WHICH ARE
INTENDED TO
BE ACHIEVED BY FY 2025/26
    * AIMS TO HAVE ACHIEVED: US: ≥ 30 COMMERCIAL HOSPITAL/LAB
AGREEMENTS
    * AIMS TO HAVE ACHIEVED: EUROPE: ≥ 8 TERRITORIAL CONTRACTS.

Source text for Eikon:  ID:nMFN3G2qP2 
Further company coverage:  BIOVICb.ST 

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