SciBase Reveals Significant Results of Capital Raise with Rights and Directed Issues

SciBase Capital Raise Achievements

On January 13, 2025, SciBase Holding AB, known for its innovative approaches in dermatology, officially announced the preliminary outcomes of its recent capital raise. This initiative comprised a rights issue and a directed issue, with significant results affirming the company's robust financial trajectory.

Overview of Capital Raise

The capital raise consisted of two components: an approximate SEK 59.3 million rights issue and a directed issue yielding around SEK 22.5 million. The announcement was made earlier, on November 12, 2024, during which the company expressed intentions to enhance its financial base through these initiatives.

As per the preliminary results, all 16,669,624 units offered in the directed issue were fully subscribed and finances have already been received. The allocation for these units will be resolved by the Board of Directors on January 14, 2025.

Rights Issue Details

The rights issue subscription period concluded on January 13, 2025. The preliminary subscription summary revealed that 22,916,119 units had been subscribed for—corresponding to approximately 52.2% of the total offering. This was comprised of both subscriptions utilizing unit rights and those made without. Notably, the rights issue garnered 50.4% coverage via subscription commitments, guaranteeing that the funds required would be secured without utilizing guarantee commitments. The capital generated from the rights issue is expected to amount to around SEK 30.9 million before deduction of issuance costs.

The mechanics of the rights issue follow the procedures outlined in the EU growth prospectus published on December 20, 2024. Allocation notifications will be dispatched to those who participated in the subscription without unit rights, ensuring they are informed of their shares under the new structure.

Expansion of Share Capital

The rights issue will result in an increase in the company's share capital by SEK 3,437,417.85, raising it from SEK 10,976,920.20 to SEK 14,414,338.05 through the creation of 68,748,357 shares. In total, the number of shares will rise from 219,538,404 to 288,286,761, indicating a dilution effect of about 23.8%. Following the directed issue, the total number of shares will further grow to 338,295,633, increasing the share capital to SEK 16,914,781.65 and resulting in a dilution effect of around 14.8%.

Future Projections with Warrants

The planned funding does not stop here; should all attached warrants from the capital raise come to fruition, SciBase anticipates an additional infusion of funds, oscillating between SEK 53.4 million to SEK 89.1 million. The warrants allow for conversion into new shares at a prescribed price determined closer to their expiration between November 24, 2025, and December 5, 2025, thereby potentially enriching the user base and further stimulating growth.

Commitment to Healthcare

SciBase is deeply committed to enhancing dermatological care through innovative solutions. With over two decades of R&D at the prestigious Karolinska Institute in Stockholm, the company emphasizes its mission to minimize patient suffering and empower clinicians through timely and effective detection and intervention strategies.

Engaging financial experts for this capital raise, SciBase has partnered with Penser by Carnegie for financial advising and Advokatfirman Schjødt for legal counsel, ensuring rigorous oversight and optimally structured offerings for both new and existing investors.

With trading for subscribed units (BTU) on Nasdaq First North Growth Market continuing until January 17, 2025, stakeholders are urged to monitor further developments closely. As SciBase ventures into this new chapter of growth, the anticipation rests on their potential advancements in dermatological technology that not only promise to save lives but also to revolutionize the approach towards skin health management.

For more information about SciBase and their pioneering work in medical technology, visit www.SciBase.com or consult their investor relations page to access the latest press releases and financial reports.