Gradientech raises SEK 75.3 million in rights issue
Gradientech AB has successfully completed a rights issue, raising approximately SEK 75.3 million before transaction costs. The capital infusion is intended to strengthen the company's financial position.
Swedish health technology company Gradientech AB announced on January 3, 2022, the final outcome of its rights issue. The company has raised approximately SEK 75.3 million before deductions for transaction costs.
The rights issue saw a subscription rate of approximately 90 percent, with a total of 3,675,316 shares subscribed for, both with and without subscription rights. Subscriptions supported by subscription rights accounted for about 50 percent of the issue, while those without rights represented approximately 10 percent. An additional 30 percent of shares were subscribed for through fulfillment of investment commitments.
This capital increase is expected to strengthen Gradientech's financial standing and support its ongoing development and commercialization efforts. As a result of the rights issue, the company's share capital will increase by approximately SEK 367,531.60, and the total number of shares will increase by 3,675,316.
Gradientech is known for its QuickMIC® system, designed to rapidly identify bacteria and determine antibiotic susceptibility. This technology is particularly relevant for improving the diagnosis and treatment of sepsis, a life-threatening condition. The secured funding will aid in the company's operational activities and market expansion.