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Issuance of shares pursuant to the financing arrangement announced on 21 July 2016, 8 March 2017

08 March 2017

Nexstim Plc (NXTMH:HEX, NXTMS:STO) (“Nexstim” or the “Company”), a medical technology company with a pioneering navigated non-invasive brain stimulation system, announces that, pursuant to the authorisation received from the Company's Extraordinary General Meeting on 20 February 2017 and the financing arrangement entered into with Bracknor Investment and the Finnish Innovation Fund Sitra which was announced on 21 July 2016, the Board of Directors of the Company has today resolved on issuing 16,787,253 new shares to Bracknor with an aggregate subscription price of EUR 2,166,059.25 based on the stand-by equity distribution agreement (SEDA). The new shares will be listed approximately on 14 March 2017. After the issuance the total number of registered shares in the Company will be 74,061,991.

 

In addition to the EUR 5 million funding already received from Bracknor based on the CBF Agreement, after this share issuance the Company has received the full EUR 5 million funding also based on the Bracknor SEDA announced on 21 July 2016.

 

The financing arrangement between the Company and Sitra shall continue in accordance with the Sitra SEDA.

 

NEXSTIM PLC

Martin Jamieson, CEO

 

Further information is available on the website www.nexstim.com or by contacting:

 

Nexstim                                                                                                                                    +447715163942

Martin Jamieson, Chief Executive Officer                                           martin.jamieson@nexstim.com

                                                                                                                                                                                

UB Securities Oy (Certified Adviser)                                                                         +358 (0)9 2538 0246

 

Citigate Dewe Rogerson                                                                                               +44 (0)207 2821066

Katja Stout                                                                                                        katja.stout@citigatedr.co.uk

 

About Nexstim Plc

Nexstim is a medical technology company which has pioneered its technology in brain diagnostics with the Navigated Brain Stimulation (NBS) system as the first and only FDA-cleared and CE-marked navigated Transcranial Magnetic Stimulation (nTMS) system for pre-surgical mapping of the motor and speech cortices. Based on the same technology platform, the Company has developed a system called Navigated Brain Therapy (NBT®) which is CE-marked for chronic neuropathic pain, major depression and stroke therapy. Nexstim's shares are listed on Nasdaq First North Finland and Nasdaq First North Sweden. For more information please visit www.nexstim.com

 

 

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