LIFE: Satisfied with the final results of the Rights Issue
Bergen, Norway, 14 June, 2024: Today, Lifecare ASA (LIFE), a clinical stage medical sensor company developing the next generation Continuous Glucose Monitor (CGM), announces that all valid subscriptions from investors with subscription rights have been allocated in accordance with the allocation criteria set out in the prospectus for the Rights Issue.
Reference is made to the previous stock exchange announcements published by Lifecare ASA ("Lifecare" or the "Company") regarding Final results of the Rights Issue today 14 June.
- We are grateful for the trust shown by both existing and new shareholders in the completion of the Rights Issue. We have observed a high level of demand during the subscription period, resulting in an over-subscription of 40%. All investors with subscriptions rights have been allocated their subscription and over-subscription has been allocated according to the allocation criteria set out in the prospectus, says CEO Joacim Holter at Lifecare.
- We are satisfied with the final result, as it provides the company with a strengthened financial foundation. The Rights Issue has also been a crucial step towards the uplisting on the Oslo Stock Exchange's main list, ensuring compliance with the financial requirements for the uplisting. The next step for Lifecare, is the longevity study on dogs, which will be in collaboration with the Norwegian University of Life Sciences (NMBU), says Holter.
