Mendus: Successful SEK317m equity raise - Edison

Following its previous announcement of secured financing commitments, Mendus has raised SEK227m through a rights issue and SEK90m through a directed issue to Flerie Invest. Post shareholders’ approval at the extraordinary general meeting (held 10 July 2023) and completion of the fund-raise (announced 28 July 2023), Mendus’ total outstanding shares will increase from 202.7m to 863.1m, from 10 August 2023. Mendus intends to utilise the proceeds from the issue to finance crucial inflection points, providing a cash runway to at least Q424. Incorporating the fund-raise and share dilution, we now value Mendus at SEK2,183m or SEK2.53 per share versus SEK1,851m or SEK9.19 per share previously.

Länk till analysen i sin helhet: https://www.edisoninvestmentresearch.com/research/company/mendus

Länk till analysen i sin helhet: https://www.edisoninvestmentresearch.com/research/report/mendus321574/preview