#Sweden #Stockholm #dermatology #Nevisense #SciBase

SciBase Concludes Successful Capital Raise

On January 14, 2025, SciBase Holding AB, recognized as a leading global medical technology company, announced the successful culmination of its capital-raising initiatives through a rights issue and a directed issue. This marks a significant step forward for the firm, ensuring substantial funds aimed at bolstering its commercialization efforts and enhancing product development.

Overview of the Capital Raise

The capital raise comprises two main components: a rights issue producing approximately SEK 59.3 million and a directed issue generating about SEK 22.5 million. Overall, this translates to over SEK 81 million, facilitating SciBase’s strategic objectives in the rapidly evolving dermatology market.

Rights Issue Details

The rights issue was met with robust interest, leading to subscriptions totaling approximately 22,916,119 units or about 52.2% of the total offering. Notably, this consisted of subscriptions made both with and without rights support. The commendable response resulted in approximately 50.4% coverage from various commitments, indicating strong investor confidence.

As a consequence, SciBase stands to access circa SEK 30.9 million from this segment of the capital raise after factoring in issuance costs. The response reflects an impressive commitment from both existing shareholders and new investors alike.

Directed Issue Insights

The directed issue has seen all 16,669,624 units readily subscribed and funded. The Board of Directors is anticipated to resolve the allocation of these units on the day of the announcement. Each unit comprises three shares and warrants, propelling SciBase’s initial capital gain by SEK 22.5 million, subject to issuing expenses.

CEO Pia Renaudin expressed her gratitude, stating, “I extend my heartfelt thanks to both existing and new shareholders. The funds acquired will power our commercialization strategy centered on skin cancer diagnostics in the U.S. market while advancing concerns related to skin health management.”

Implications of the Capital Raise

The overall increase in company shares post-rights issue rises from 219,538,404 to approximately 288,286,761, indicative of a dilution effect estimated at 23.8%. The directed issue further elevates the total shares to around 338,295,633, with an additional dilution effect calculated at 14.8%. In essence, should all associated warrants be executed, SciBase could see a total share count escalation of up to 118,757,229 shares—excluding arising revenues of up to SEK 89.1 million.

Highlights of the Opportunities Ahead

This capital accumulation positions SciBase favorably to pursue its initiative in dermatological diagnostics decisively. With Nevisense—its flagship product—that integrates AI and advanced EIS technology—SciBase continues to focus on improving diagnostic precision in skin health management and is set for a promising 2025.

Moreover, the trading of units associated with these subscriptions will proceed on Nasdaq First North Growth Market until January 17, 2025, allowing further market engagement and visibility.

Conclusion

SciBase's recent capital raise confirms its commitment to technological advancements in dermatology, signaling an ambitious outlook geared towards improving healthcare outcomes through timely interventions. With support from its investor base and a focused strategy, the year ahead looks promising as SciBase endeavors to further its mission of early detection and skin health management.