Redsense Medical AB (plc) has completed a directed equity issue for selected Swedish and international institutional investors. The equity issue infuses Redsense Medical with approximately SEK 73 million before issue costs.
A total of 1.5 million new shares were issued on 8 October 2020, at a price of SEK 48.5 per share, equating to a premium of about 1.3 percent, compared to the volume-weighted share price over the last thirty days of trading for the company’s share.
Redsense Medical is affiliated with a group with activities primarily in Europe and the USA. The company has developed the system Redsense, a medical alarm unit used for monitoring. It sends an alarm if it detects blood leaking during dialysis. Redsense resolves one of the most serious remaining safety problems with dialysis: the need to quickly detect venous needle dislodgement and catheter leaks. The company is listed on the Spotlight Stock Market.
The law firm Lindahl has assisted Redsense Medical in raising capital as its legal advisor. Lindahl’s team was made up of Dennis Westermark, Monica Lagercrantz and Jenny Strandberg. For the new share issue, the company engaged Danske Bank as sole book runner.