Company announcement, Inside information, Helsinki, 6 November at 7.15 pm (EET)
The share subscription period based on Nexstim Plc’s (NXTMH:HEX, NXTMS:STO) ("Nexstim" or the "Company") Offer Warrants 2019 ended on 4 November 2019. Based on the Offer Warrants, 10,511,689 new shares were subscribed for and the Company will receive approximately EUR 1.2 million in proceeds before transaction fees and expenses.
As announced on 21 October 2019, the Offer Warrants were secured to 100 per cent through subscription commitments and underwriting commitments, and additional directed issues were decided on. Subject to the approval of the Extraordinary General Meeting of Shareholders to be held on 11 November 2019, a directed issue of up to 15,781,416 new shares will be arranged by the Company, which will raise additional proceeds of approximately EUR 1.7 million before transaction fees and expenses.
The Offer Warrants which were not exercised under the Warrant Plan 2019 have lost their value and will be removed from the securities’ accounts of the holder of the Offer Warrants.
Martin Jamieson, CEO
Further information is available on the website www.nexstim.com, or by contacting:
Martin Jamieson, Chairman and CEO
+44 771 516 3942
Sisu Partners Oy (Certified Adviser)
+ 358 40 842 4479
About Nexstim Plc
Nexstim is a Finnish, globally operating medical technology company. Our mission is to enable personalized and effective therapies and diagnostics for challenging brain diseases and disorders.
Nexstim has developed a world-leading non-invasive brain stimulation technology called SmartFocus®. It is a navigated transcranial magnetic stimulation (nTMS) technology with highly sophisticated 3D navigation providing accurate and personalized targeting of the TMS to the specific area of the brain.
SmartFocus® technology is used in Nexstim’s proprietary Navigated Brain Therapy (NBT®) system, which is FDA cleared for marketing and commercial distribution for the treatment of major depressive disorder (MDD) in the United States. In Europe, the NBT® system is CE marked for the treatment of major depression and chronic neuropathic pain.
In addition, Nexstim is commercializing its SmartFocus® based Navigated Brain Stimulation (NBS) system for diagnostic applications. The NBS system is the only FDA cleared and CE marked navigated TMS system for pre-surgical mapping of the speech and motor cortices of the brain. Nexstim shares are listed on the Nasdaq First North Growth Market Finland and Nasdaq First North Growth Market Sweden.