The Directed Issue
The Board of Directors of Integrum has, in accordance with the issue authorization granted by the annual general meeting on 30 September 2020, and as indicated in the press release of the Company earlier today, resolved on a directed issue of 2,200,000 new series B shares at a subscription price of SEK 55 per share, consequently raising gross proceeds of approximately SEK 121 million. The subscription price in the Directed Issue has been determined through an accelerated book building procedure, why it is the assessment of the Board of Directors that the subscription price accurately reflects current market conditions and demand.
A number of Swedish and international institutional investors including Consensus Fonder, Stena Finans, Vasastaden Holding, and Didner & Gerge Fonder participated in the Directed Issue.
The reason for deviating from the shareholders’ preferential right was to raise capital in a time and cost-effective manner, to finance an acceleration of the commercialization strategy and also to further diversify the shareholder base with Swedish and international institutional investors.
The Company intends to use the net proceeds from the Directed Issue to continue to strengthen the organization to accelerate the Company’s commercialization strategy including:
- Scale-up the Company’s regulatory and reimbursement capabilities to accelerate the expansion of the OPRA™ Implant System in the US with focus on Medicare;
- Continued investments in the sales & marketing and R&D organizations;
- Expanding the product portfolio within the EU and US with focus on eOPRA and additional indications; and
- R&D pipeline progression of the next generation OPRA and eOPRA solutions to further improve quality of life for individuals with amputations.
The Directed Issue entails a dilution of 12.2 percent of the total number of outstanding shares and 9.2 percent of the votes in Integrum. Through the Directed Issue, the number of outstanding shares will increase by 2,200,000 series B shares from 15,538,039 to 18,038,039 (whereof 640,00 series A shares and 17,398,039 series B shares). The share capital will increase by SEK 154,000.00 from SEK 1,108,662.73 to SEK 1,262,662.73.
In connection with the Directed Issue, the Company has agreed not to, with customary exceptions, issue any shares for a period of 180 days after the settlement date of the Directed Issue. In addition, the Company’s Board of Directors and management team, have agreed not to sell any shares in Integrum for a period of 180 days after the settlement of the Directed Issue, subject to customary exceptions.
Carnegie Investment Bank AB (publ) (“Carnegie”) was Sole Bookrunner in connection with the Directed Issue. Setterwalls Advokatbyrå AB was legal adviser in connection with the Directed Issue.
 The OPRA™ Implant System is an innovative method allowing the direct connection of an artificial limb to the skeleton.
This disclosure contains information that Integrum AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014) and the Swedish Securities Markets Act (2007:528). The information was submitted for publication, through the agency of the contact person, on 15-06-2021 22:30 CET.
For further information, please contact:
Maria Lopez, CEO
Tel: +46 708-46 10 69
Dennis Baecklund, CFO
Tel: +46 725-56 68 69
Erik Penser Bank AB
Tel. +46 8 463 8000