Company announcement, Helsinki, 26 March 2019 at 6.00 PM
Nexstim Plc (NXTMH:HEX, NXTMS:STO) ("Nexstim" or "Company"), the targeted neuromodulation company developing and marketing pioneering navigated personalised, non-invasive brain stimulation systems for the treatment of Major Depression Disorder (MDD) refers to the company announcement published earlier today regarding a rights issue totalling approximately EUR 5.2 million (the “Offering”) with additional warrants enabling the Company to raise up to a maximum of approximately EUR 2.6 million (the “Offer Warrants”).
The Company has prepared a prospectus which the Finnish Financial Supervisory Authority (FIN-FSA) has approved on 26 March 2019 (the “Prospectus”). The Board of Directors of Nexstim has resolved to publish the Prospectus on 26 March 2019.
Finnish version of the Prospectus will be available approximately on 26 March 2019 on the Nexstim website (http://www.nexstim.com/investors/rights-issue-2019) and at the registered office of the Company at Elimäenkatu 9 B, 00510 Helsinki. Moreover, the Finnish version of the Prospectus will be available at the reception of the Nasdaq Helsinki Office at Fabianinkatu 14, 00100 Helsinki.
An unofficial English translation of the Prospectus including a summary in Swedish will be available on the Nexstim website (http://www.nexstim.com/investors/rights-issue-2019) approximately on 26 March 2019.
The Company also releases new information regarding profit forecast given in connection with the annual report for the year 2018.
In connection with the publication of the 2018 Annual Report, the Company has estimated that its therapeutic business will grow during current financial year. In this context, the Company now announces that, according to an estimation by the management, the net sales of the therapy business for the financial year ended 31 December 2017 were approximately EUR 211.1 thousand and for the financial year ended 31 December 2018 approximately EUR 659.9 thousand. These estimations by the management regarding previous financial years have not been audited.
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
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.
For more information please visit www.nexstim.com