Bioretec Oy Reports Exciting Oversubscription Results from Rights Issue
Bioretec Significant Rights Issue Results
On June 23, 2025, Bioretec Ltd, a Finland-based medical device company, disclosed the preliminary outcomes of its recent rights issue, which was held between May 28 and June 19, 2025. This rights issue was particularly aimed at bolstering Bioretec's innovative product development in the orthopedic sector.
During this offering, Bioretec opened the door for its current shareholders to subscribe to a maximum of 6,156,618 new shares. The objective was to secure funds to enhance the company’s strategic initiatives and expand its global reach. The enthusiasm surrounding this offering is substantial; the preliminary results indicate that investors have subscribed to 7,375,567 shares, leading to an astonishing oversubscription rate of approximately 119.8%. This signifies strong investor confidence in Bioretec’s future and the effectiveness of its product line.
The total gross proceeds derived from this rights issue amount to approximately EUR 9.2 million. Notably, 4,825,626 of the new shares were subscribed under the exercise of subscription rights, while an additional 2,549,941 shares were acquired by other interested investors. The subscription price was set at EUR 1.50 per share.
Sarah van Hellenberg Hubar-Fisher, Bioretec’s interim CEO, expressed her excitement regarding the response to the rights issue, stating, "This is an exciting time for Bioretec, and for the patients globally who stand to benefit from our innovative product portfolio. This oversubscribed rights issue reflects the confidence our shareholders have in the future of Bioretec, and I would like to extend my sincere thanks to everyone who participated and continues to support our ambitious plans for growth."
The funds raised through this offering will be crucial for Bioretec's ambitions to launch innovative technologies and products in the orthopedic surgical field. As per the commitments made through this offering, Bioretec anticipates expanding its commercial efforts globally while utilizing the proceeds to showcase its robust product development pipeline.
The final results of the offering are scheduled for publication on June 24, 2025, following approval of the subscriptions by Bioretec's Board of Directors. Assuming all subscriptions are authorized, the total share count of Bioretec will increase from 24,626,474 to 30,783,092 shares after allocating the new shares. Notably, the issuance of these shares represents roughly 20% of all outstanding shares post-offering.
As for the trading logistics, the last trading day for interim shares on the Nasdaq First North Growth Market is anticipated to be around June 26, 2025. Once registered, these new shares will confer the same rights as the existing shares and trading is expected to commence on June 27, 2025.
In summary, this rights issue sets a promising tone for Bioretec's future endeavors in the orthopedic space. With an increasing number of orthopedic surgeries performed worldwide, driven by an aging population and rising sports-related injuries, Bioretec is well-positioned to become a leader with its novel RemeOs™ product line. This new generation of biodegradable materials aims to enhance surgical outcomes, positioning the company for a share in the expansive USD 9 billion global orthopedic trauma market.
To facilitate this offering, Bioretec partnered with Danske Bank A/S, Finland Branch, and DNB Carnegie Investment Bank AB, Finland Branch as joint global coordinators, ensuring excellent guidance throughout the process. As Bioretec continues its journey, it aims to not only meet but exceed the expectations set during this rights issue, paving the way for innovative solutions in orthopedic care.