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MEDIRÄTT ISSUES SEK 4.5 MILLION OF CONVERTIBLES WITH WARRANTS AND WILL ISSUE FREE WARRANTS TO ITS SHAREHOLDERS

On May 21, 2018, MediRätt and European Select Growth Opportunities Fund (the "Investor") signed an agreement under which MediRätt may issue convertible bonds in several tranches for a total maximum amount of SEK 50 million over 18 months. A first tranche of SEK 2.5 million has been issued on June 13, under which all the convertibles have been converted into shares as of today, strengthening the company's equity.

Today, MediRätt has called upon a second tranche of convertibles and the Investor has agreed to increase the size of this second tranche from SEK 2.5m (as initially provided in the amendment signed on June 12) to SEK 4.5m, to further support the company's needs in the ongoing commercialization phase and process to obtain the CE mark for Dosell. The board of directors of MediRätt has therefore resolved to issue convertible bonds in the nominal amount of SEK 4.5 million to the Investor. Conversion may take place during a 12-month period from the date of the registration of the convertibles with the Swedish Companies Registration Office.

As provided under the agreement and its amendment signed on June 12, the board of directors of MediRätt has also resolved to issue warrants TO6 to the Investor and to the company's shareholders, free of charge. 430,851 warrants will be issued to the Investor and 426,692 to the company's shareholders to mitigate dilution, pro rata to their shareholdings.

1 warrant TO6 will be granted for every 31 shares held on the record date. MediRätt will communicate later on the record date and allocation date of the shareholders warrants.

The warrants give right to subscribe for 1 share in MediRätt at an exercise price of SEK 9.40 until the 3-year anniversary of their registration and will be listed on Nasdaq First North as from their registration.

It is reminded that the company's call for new tranches under the agreement with the Investor is at the company's discretion, and subject to the following main conditions, which can be waived by the Investor:

  • the convertibles of the previous tranches shall have been completely converted or redeemed;
  • no material adverse change or event of default shall have occurred;
  • no impossibility for any convertible to be converted shall have occurred;
  • the closing price and the daily VWAP of the shares on each of the 5 preceding trading days shall be at least equal to SEK 5.00;
  • the daily value traded of the shares on each of the 10 preceding trading Days shall be at least equal to SEK 300,000 (trades labelled as 'XT' on Bloomberg will all be excluded from this calculation); and
  • post subscription of the tranche being requested by the company, the Investor shall not hold, directly or indirectly, more than 10% of the fully diluted number of shares.

The full terms and conditions of the convertibles and the warrants will be published on MediRätt's website, together with the follow-up table indicating the conversions and the number of convertibles and warrants outstanding, http://www.mediratt.com/

Stockholm 2018-11-09

Contact CEO Carl Johan Merner:
carl.johan.merner@mediratt.com 

MediRätt AB (publ.)

Stockholmsvägen 33
181 33 Lidingö
+ 46 (0)8 765 66 33
info@mediratt.com
mediratt.com 

This information is such that MediRätt AB is obligated to disclose in accordance with the EU Market Abuse Regulation (MAR). The information was submitted for publication on November 9 2018 at 16.35 CET.

About MediRätt AB (publ.)
MediRätt is a Swedish medical technology company that develops digital solutions for safer medication and drug dispensing. The company was founded in 2008 by general physician Göran Sjönell and industrialist Sten Röing. MediRätt has developed the patented digital drug dispensing machine Dosell, as well as a series of applications that together form a unique overall concept to ensure that elderly and multi-medicating patients receive reliable and safe medication.

The company is listed on NASDAQ First North Premier. Erik Penser Bank, +46 (0)8 463 80 00, is the company's Certified Adviser. Further information is available at mediratt.com.

March 8, 2019
Regulatory

The shareholders of MediRätt AB, 556762-3391 (the "Company") are hereby invited to the Annual General Meeting on Wednesday, 10 April 2019 at 2:00 p.m. at Priority, Skeppsbron 24, Stockholm, Sweden

February 15, 2019
Regulatory

On 14 February 2019, MediRätt announced that Svensk Konstruktionstjänst AB ("SveKon"), developer of the Dosell system, invests SEK 3 million in MediRätt through a directed issue of new shares. The board of directors of MediRätt today resolved, by power of authorisation from the annual general meeting held on 11 April 2018, on a directed issue of 528,169 new series B shares to SveKon against payment through set-off of a claim valued at SEK 3 million.

November 30, 2018
Regulatory

On November 9, 2018, MediRätt announced that the company had called upon a second tranche of convertibles under the agreement on financing through issuance of convertibles entered into with European Select Growth Opportunities Fund (the "Investor"). MediRätt also informed that the company had decided to, at no consideration, issue 430,851 warrants TO6 to the Investor and 426,692 warrants to iZafe AB (formerly Sensec Personlig Säkerhet AB, currently under name change) with the right and obligation to transfer its warrants at no consideration to the shareholders in MediRätt pro rata in proportion to the number of shares in MediRätt they hold at the date five trading days after the date of registration of the issue resolution at the Swedish Companies Registration Office.

November 20, 2018
Regulatory

The shareholders of MediRätt AB, 556762-3391, (the "Company") are hereby invited to an Extraordinary General Meeting on Tuesday, 18 December 2018 at 14.00, at Priority, Skeppsbron 24, Stockholm, Sweden.

November 9, 2018
Regulatory

On May 21, 2018, MediRätt and European Select Growth Opportunities Fund (the "Investor") signed an agreement under which MediRätt may issue convertible bonds in several tranches for a total maximum amount of SEK 50 million over 18 months. A first tranche of SEK 2.5 million has been issued on June 13, under which all the convertibles have been converted into shares as of today, strengthening the company's equity.

October 30, 2018

Today, MediRätt's subsidiary signed an agreement with Borlänge municipality after winning a direct procurement for courses in security training. Under the agreement, Sensec will train Borlänge municipality staff on 10 to 15 occasions in three different areas: threats and violence in the workplace, ongoing deadly violence, and emergency preparedness.

October 25, 2018

In conjunction with MediRätt's Q3 report, Erik Penser Bank today published a follow-up analysis of the company. Against a background of higher than expected sales for Q3, the bank has revised upwards its EBIT estimate by SEK 1.8 million for 2018.

October 24, 2018
Regulatory

THIRD QUARTER IN BRIEF
GROUP

SALES:
2,704 SEK 000s (0 SEK 000s)

PROFIT AFTER TAX:
-2,101 SEK 000s (-1,100 SEK 000s)

PROFIT PER SHARE BEFORE DILLUTION:
-0.2 SEK (-0.1 SEK)

NUMBER OF SHARES AS AT 30 JUNE:
13,566,762 (11,692,028)

October 15, 2018

Today, MediRätt has signed a pilot project agreement for Dosell with Uppsala municipality. The trial will be conducted for a period of six months with the option of an extension. If the test is successful, Uppsala municipality may decide to purchase Dosell through a public procurement process.

October 15, 2018

The process to obtain CE marking for Dosell as a MDD Class 1 medtech product continues as planned. MediRätt is expecting that the process can be completed during week 48.

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