The board of directors of Xvivo Perfusion AB has resolved to issue 1,950,000 new shares in Xvivo through a private placement directed to a group of qualified Swedish and international investors.
The subscription price for each new share was set to SEK 37.50 through a book-building procedure. Through the Private Placement Xvivo raises SEK 73,125,000 before issue costs. The Company decided to increase the size of the Private Placement from the announced SEK 50 million to approximately SEK 73 million given the strong interest among investors, stated Xvivo.
The reason behind the new share issue is that the board of directors at Xvivo believes that it is beneficial for the company and its shareholders to seize this opportunity to raise additional capital on attractive terms, thus facilitating a faster built up of the Xvivo’s working capital for the U.S. and European launch of the XPS and STEEN Solution as well as investment into new indications.
“XVIVO Perfusion expects to receive market approval for STEEN Solution and XVIVO Perfusion System (XPS) in the US market in the next few months. Furthermore, XPS has recently been approved for the European market (CE marking). As there is great interest in these innovative products, the capital contribution greatly strengthens the company’s ability to satisfy the market demand by building up its working capital more rapidly. Furthermore, XVIVO Perfusion will be able to more rapidly take advantage of the potential that exists in the development of new indications for warm perfusion using Steen Solution”, says Magnus Nilsson, CEO of XVIVO Perfusion.