Company Announcement, Helsinki, 12 March 2019 at 2.00 pm (EET)
Nexstim Plc (NXTMH:HEX, NXTMS:STO), the targeted neuromodulation company developing and marketing pioneering navigated personalised, non-invasive brain stimulation systems for the treatment of Major Depression Disorder (MDD), announces that its Board of Directors is planning for an issue of new ordinary shares in which the current shareholders of the company have the right to subscribe for new shares in proportion to their existing shareholdings in the Company.
To execute this planned rights issue requires that the Company’s Annual General Meeting (“AGM”) authorizes the Board of Directors to decide on the issuance of new ordinary shares as well as the issuance of other special rights entitling to shares. The AGM will be held on March 25, 2019, and the rights issue, upon approval, would take place soon after the AGM. A detailed timeline for the rights issue will be announced at a later date.
Martin Jamieson, Chairman and CEO, Nexstim PLC, commented: “This planned rights issue forms an important part of the funding that we need to deliver the significant potential of our SmartFocusTM TMS technology in both the U.S. and Europe where customer feedback has highlighted a huge and growing need for personalised, non-invasive treatments that can make a real difference in the battle against major depressive disorder.”
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
Citigate Dewe Rogerson
David Dible/Shabnam Bashir/ Sylvie Berrebi
+44 (0)207 2822949
About Nexstim Plc
Nexstim is a medical technology company focused on the development and commercialization of its world-leading SmartFocusTM TMS technology, a non-invasive brain stimulation system for the treatment of Major Depressive Disorder (MDD). The Company’s proprietary Navigated Brain Therapy (NBT®) system, a highly sophisticated 3D navigation, is the only personalised, navigated transcranial magnetic stimulation (TMS) approach providing accurate targeting of the TMS to the specific area of the brain associated with MDD.
Nexstim’s NBT® system has been launched in the US for the treatment of MDD following clearance from the FDA for marketing and commercial distribution for this indication. The NBT® system is CE marked in Europe for the treatment of major depression and chronic neuropathic pain.
In addition, Nexstim is commercialising its Navigated Brain Stimulation (NBS) system for diagnostic applications, based on the same technology. 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 Finland and Nasdaq First North Sweden.
The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States, Canada, New Zealand, Australia, Japan, Hong Kong, Singapore or South Africa or any other country where such publication or distribution would be unlawful. This release does not constitute an offer of securities for sale in any country. The securities mentioned herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or the rules and regulations thereunder.