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Xvivo Perfusion plans offering
Posted on Monday, 20 March 2017 13:06
Swedish transplantation equipment maker Xvivo Perfusion is conducting a share placing valued at more than SEK 180.65 million (EUR 19.00 million) in order to finance general working capital requirements.
The firm is issuing 2.36 million new stocks, representing a 9.1 per cent stake in the company’s enlarged capital, to Tredje AP-fonden, Fjarde AP-fonden, Norron and Swedbank Robur at SEK 76.50 apiece.
Norwegian investment bank Pareto Securities has been hired to advise on the financing.
Magnus Nilsson, chief executive of the target, said: “There is great interest in Xvivo Perfusion´s heart transplant project and the capital contribution improves the possibility of more rapidly reaching global market approval and hence being able to market these products.
“Furthermore, Xvivo Perfusion will be able to more rapidly take advantage of the potential that exists in the development of new indications e.g. liver transplantation, PrimECC and cancer.”
The cash call is expected to close on 12th April 2017.
Xvivo Perfusion is a medical technology company which develops systems for assessing and preserving organs outside the body and for selecting usable organs and maintaining them in optimal condition pending transplantation.
The firm, which is also known as Xvivo Perfusion Aktiebolag, is headquartered in Gothenburg and has one office in Lund and another in the US.
Xvivo Perfusion is listed on Nasdaq Stockholm under the ticker symbol XVIVO.
In the three months ended 31st March 2016, the group generated net sales of SEK 33.53 million, a slight increase on SEK 31.82 million in the corresponding timeframe of 2015.
Earnings before interest, tax, depreciation and amortisation totalled SEK 4.87 million for the first quarter of FY 2016 (Q1 2015: SEK 2.88 million).
Last year, Xvivo Perfusion signed on the dotted line to purchase Swedish lung transplantation equipment developer Vivoline Medical for roughly SEK 128.50 million.
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