Søren Johan Brun
Behind the Curtain: Pre-IPO transactions (names undisclosed)
May 2020: STENOCARE IPO, Nasdaq First North Growth Market Denmark (Copenhagen)
The STENOCARE Board of Directors decided to list on Nasdaq First North as a first step towards Nordic Small Cap on Nasdaq. For more information, go to link.
At the same time, STENOCARE CEO, Thomas Schnegelsberg thanked Spotlight Stock Market for getting STENOCARE of to a good start as a public company. Last day at Spotlight Stock Market was May 12, 2020. First day of trading at Nasdaq was May 13, 2020.
June 2020: STENOCARE 45mDKK Rights Issue
STENOCARE completed a 29.8mDKK public Rights Issue with 58% being pre-subscribed and an oversubscription allocation of 15mdkk (additional). The Rights Issue received subscriptions for 117mDKK or 392%. The remaining 42% (or about 12.5mDKK) that was available for public subscription, with preferential rights for existing shareholders, was subscribed by more than 700%. For more information, go to link. The process and resulting transaction was facilitated by Gemstone Capital.
June 2020: STENOCARE conversion and repayment of loan of 15mDKK
The loan in question was established in Summer 2019 and facilitated by Gemstone Capital. Now, in two separate transactions, following the successful Rights Issue (Link), STENOCARE agreed with loan-holders to convert 9.8mDKK thereof on terms identical with the Rights Issue and decided to repay the remaining loan including interest with proceeds from the Rights Issue.
The process and resulting loan-conversion was facilitated by Gemstone Capital.
For more information on this, see HERE.
Related posts
