Brief: Surgical Science To Buy Co Within Robotic Surgery Segment In U.S.

Surgical Science Sweden AB

21/01/2021 15:21

Jan 21 (Reuters) - Surgical Science Sweden AB  SUSW.ST :
    * SAID ON WEDNESDAY HAS ENTERED INTO CONDITIONAL AGREEMENT TO ACQUIRE COMPANY WITHIN ROBOTIC
SURGERY SEGMENT IN U.S.
    * TO ACQUIRE ALL SHARES OUTSTANDING OF MIMIC TECHNOLOGIES INC. FOR INITIAL CONSIDERATION OF
$18.0
MLN (ABOUT SEK 150 MLN) ON CASH AND DEBT-FREE BASIS
    * MAXIMUM DEFERRED CONTINGENT CONSIDERATION OF $15.6 MLN (ABOUT SEK 130 MLN) TIED TO
QUALIFYING
REVENUE TARGETS FOR YEARS 2021, 2022 AND 2023 MAY BE PAID
    * MAXIMUM TOTAL CONSIDERATION AMOUNTS THEREFORE TO $33.6 MLN (ABOUT SEK 281 MLN)
    * CONSIDERATION TO BE PAID THROUGH CASH, AND CO INTENDS TO COMPLETE DIRECTED SHARE ISSUE TO
FINANCE THE DEAL 
    * SAID LATER ON WEDNESDAY IT HAS COMPLETED DIRECTED SHARE ISSUE OF ABOUT SEK 322 MILLION
    * SUBSCRIPTION PRICE OF SEK 98.30 PER SHARE WAS DETERMINED THROUGH ACCELERATED BOOK-BUILDING
PROCEDURE
    * ACQUISITION IS EXPECTED TO BE COMPLETED IN END OF JANUARY/EARLY FEBRUARY 

Source text for Eikon:  ID:nWkr5jGWPN ,  urn:newsml:reuters.com:*:nWkrc3sHVt
Further company coverage:  SUSW.ST 

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