Integrum intends to carry out a directed issue of series B shares of approximately SEK 120 million

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Integrum AB (“Integrum” or the “Company”) hereby announces its intention to carry out an issue of series B shares of approximately SEK 120 million directed to Swedish and international institutional investors (the “Directed Issue”). Integrum has appointed Carnegie Investment Bank AB (publ) (“Carnegie”) as Sole Bookrunner in connection with the Directed Issue.

Published: 15 June 2021

The Directed Issue

The Directed Issue is intended to be carried out with deviation from the shareholders’ preferential rights in accordance with the issue authorization by the annual general meeting on 30 September 2020. The subscription price and the total number of new series B shares in the Directed Issue will be determined through an accelerated book building procedure, which will commence immediately following this press release. Pricing and allocation of the new shares is expected to take place before the commencement of trading on Nasdaq First North Growth Market at 09:00 CET on 16 June 2021. By establishing the subscription price in the Directed Issue through an accelerated book building procedure, it is the assessment of the Board of Directors that the subscription price will accurately reflect current market conditions and demand. The closing, pricing and allocation in the book building procedure are at the discretion of the Company and the procedure may be cancelled at any time. The Company will announce the outcome of the Directed Issue in a subsequent press release after the book building procedure has been completed.

The reason for deviating from the shareholders’ preferential right is to carry out a capital raise in a time and cost-effective manner, to finance an acceleration of the commercialization strategy and also 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:

  1. Scale-up the Company’s regulatory and reimbursement capabilities to accelerate the expansion of the OPRA™ Implant System[1] in the US with focus on Medicare;
  2. Continued investments in the sales & marketing and R&D organizations;
  3. Expanding the product portfolio within the EU and US with focus on eOPRA and additional indications; and
  4. R&D pipeline progression of the next generation OPRA and eOPRA[2] solutions to further improve quality of life for individuals with amputations.

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.

The Directed Issue is contignet that the board of directors, based on the issue authorization by the annual general meeting on 30 September 2020, resolves on a directed new issue of series B shares.

Advisers

Carnegie Investment Bank is Sole Bookrunner in connection with the Directed Issue. Setterwalls Advokatbyrå AB is legal adviser in connection with the Directed Issue.

 

[1] The OPRA™ Implant System is an innovative method allowing the direct connection of an artificial limb to the skeleton.

[2] Built around the OPRA™ Implant System, the artificial arm is directly attached to the skeleton, thus providing mechanical stability. Then the nerves and muscles are interfaced via neuromuscular electrodes to the prosthesis via Integrum’s advanced control system.

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 17:31 CET.

For more information contact :

Maria Lopez, VD
Tel.+46 708-46 10 69
Epost: maria.lopez@integrum.se

Dennis Baecklund, CFO
Tel.+46 725-56 68 69
Epost: dennis.baecklund@integrum.se

Certified Adviser:

Erik Penser Bank AB
Tel. +46 8 463 8000
Epost: certifiedadviser@penser.se

Integrum AB - Launch Release (ENG)