Company announcement, Inside information, Helsinki, 15 November at 6.30 pm (EET)
Based on a resolution of the Board of Directors of Nexstim Plc (NXTMH:HEX, NXTMS:STO) ("Nexstim" or the "Company") announced on 11 November 2019, 15,687,350 new shares were subscribed for. Upon approval of such subscriptions today, the Company will receive approximately EUR 1.8 million in proceeds for such directed issue excluding underwriting fees as well as other fees and expenses.
As announced on 21 October 2019, 6 November 2019 and 11 November 2019 by the Company, Offer Warrants issued in spring 2019 have been exercised for share subscriptions and the Company has arranged a directed share issue. The combined gross proceeds of the exercise of the Offer Warrants and the directed share issue amounted to approximately EUR 2.9 million and net proceeds to approximately EUR 2.7 million after deducting fees and expenses.
The Company also wishes to correct the maximum number of shares which was resolved to issue on 11 November 2019 set forth in the company announcements in Finnish and English language published on such date: The correct maximum number of shares issued was 15,781,416.
NEXSTIM PLC
Martin Jamieson, CEO
Further information is available on the website www.nexstim.com, or by contacting:
Martin Jamieson, CEO
+44 771 516 3942
martin.jamieson@nexstim.com
Sisu Partners Oy (Certified Adviser)
Jussi Majamaa
+ 358 40 842 4479
jussi.majamaa@sisupartners.com
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.