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Senzime announced cash call
Posted on Friday, 17 February 2017 12:32
Swedish automated and continuous measurement glucose and lactate device maker Senzime is raising SEK 24.42 million (EUR 2.58 million) in a rights issue.

The business will place around 4.52 million stocks, representing an enlarged stake of 11.1 per cent, at SEK 5.40 apiece.

Shareholders with eight existing scrips can subscribe for one new unit between the period of 14th March and 28th March 2017.

Senzime intends to swap stock exchanges to First North during the first half of 2017.

The Uppsala-based company develops patient-oriented monitoring systems that make it possible to assess patients’ biochemical and physiological processes before, during and after surgery.

Aktietorget-listed Senzime operates in markets across Europe, as well as the US, which are valued at in excess of USD 10.00 billion.

Its portfolio of technologies includes bedside systems that enable automated and continuous monitoring of life-critical substances such as glucose and lactate in both blood and tissues.

Senzime generated revenue of SEK 1.44 million in the nine months ended 30th September 2016, a significant increase on SEK 111,000 in the corresponding timeframe of 2015.

Net loss totalled SEK 5.84 million for the first three quarters of 2016, widened from a loss of SEK 5.77 million in Q1-Q3 2015.

Senzime’s shares closed at SEK 7.25 yesterday, valuing the company at around SEK 262.25 million.

In 2016, the glucose and lactate device manufacturer signed on the dotted line to snap up Acacia Designs, a Dutch developer of perioperative monitoring technology, for roughly SEK 94.85 million.

According to Zephyr, the M&A database published by Bureau van Dijk, there were 57 deals targeting Swedish navigational, measuring, electromedical and control instrument makers announced worldwide in 2016.

The largest of these was Snap-On’s USD 155.00 million agreement to takeover of Car-O-Liner Holding in October.

Hexagon, Biotage and Acarix, among others, were also targeted in 2016.

© Zephus Ltd