18.08.2016 17:00:00 CET

Nexstim Plc Board of Directors of Nexstim Plc approves financing arrangement

 

Company announcement, Helsinki, 18 August 2016, at 18:00 pm

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, following today's Extraordinary General Meeting, the Board of Directors of the Company has resolved on the execution of the financing arrangement announced on 21 July 2016.

Background

On 21 July 2016, Nexstim announced its plans to strengthen its working and growth capital via a directed share issue of EUR 500,000, a convertible bond facility of EUR 5 million, stand-by equity facilities of EUR 6.5 million and special rights entitling to shares to Bracknor Investment ("Bracknor") and to Nexstim's current shareholder, the Finnish Innovation Fund Sitra ("Sitra") (the "Financing Arrangement").

Resolutions of the Board of Directors

On the basis of the authorizations granted by the Company's Extraordinary General Meeting of shareholders held on 18 August 2016 and as a part of the Financing Arrangement, the Board of Directors has today resolved on:

Commenting on the announcement, Martin Jamieson, Chairman of the Board, said: "Our financing arrangement to sustain our working and growth capital is invaluable in helping Nexstim achieve a key part of our strategy of commercialising our NBT® system in the US. The backing from existing and new investors is a testament to our unique and pioneering technology and we thank them for their support."

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

Consilium Strategic Communications                                                       +44 (0)20 3709 5700
Mary-Jane Elliott / Ivar Milligan / Laura Thornton                     nexstim@consilium-comms.com

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

 

Nexstim Plc