Bergen, Norway, 26 April 2024: Lifecare AS (LIFE), a clinical stage medical
sensor company developing the next generation Continuous Glucose Monitor
(CGM), intent to invite its existing shareholders in a NOK 90 million
partially underwritten rights issue.
The proposed rights issue will ensure preferential subscription rights for
existing shareholders, with already underwritten guarantees a minimum of NOK
75 million. Subscribers in the rights issue will without cost be allocated
warrants giving the holder right to subscribe for new shares when exercisable.
The detailed terms for the rights and warrant issue are available in the stock
exchange notification.
* 2024-04-25 20:00:00: Proposed partially underwritten rights issue
(https://lifecare.no/stock-market-announcements/lifecare-as-proposed-partially-underwritten-rights-issue/)
* 2024-04-25 20:01:00: Key information relating to the preferential rights
issue
(https://lifecare.no/stock-market-announcements/lifecare-as-key-information-relating-to-the-preferential-rights-issue/)
- The progress plans in Lifecare are going according to schedule and we have
been delivering milestones on a continuous basis over a long period. This
issue will give the company a strengthened financial backbone and, most
importantly, fully secure the funding of the company until our sensor
technology is launched in the commercial market, says CEO Joacim Holter at
Lifecare.
- We want to ensure fair and equal treatment of our loyal base of
shareholders, and the proposed rights issue is designed to do just that, says
Joacim Holter. One advantage of the guaranteed fundraising structure is that
the company can confirm sufficient funding when we now announce the
intentions. Furthermore, a rights issue is a shareholder-friendly form of
transaction as existing shareholders have preferential rights to subscribe in
the offering.
This rights issue is also important considering that Lifecare is in the
process of applying for uplisting from Euronext Growth to the main list on
Oslo Stock Exchange. - Completion of a partially underwritten rights issue
will ensure compliance of financial requirements for listing on Oslo Stock
Exchange. We expect that a listing on the main list at Oslo Stock Exchange
will further accelerate the overall growth of our company, attract, and secure
a more flexible and even broader investor base that will support Lifecare in
reaching our growth targets. We also expect that an uplisting will increase
share liquidity and strengthen the profile of Lifecare, says Holter.
About us
Lifecare AS is a clinical stage medical sensor company developing technology
for sensing and monitoring of various body analytes. Lifecare's main focus is
to bring the next generation of Continuous Glucose Monitoring ("CGM") systems
to market. Lifecare enables osmotic pressure as sensing principle, combined
with the ability to manipulate Nano-granular Tunnelling Resistive sensors
("NTR") on the sensor body for read-out of pressure variations. Lifecare's
sensor technology is referred to as "Sencell" and is suitable for identifying
and monitoring the occurrence of a wide range of analytes and molecules in the
human body and in pets.
Contacts
For further information, please contact:
Joacim Holter, CEO, Lifecare AS, joacim.holter@lifecare.no, +47 40 05 90 40
Asle Wingsternes, Head of Communications & Public Affairs,
asle.wingsternes@lifecare.no, +47 41 61 42 52