Regenerative implant producer OssDsign, based on research at Karolinska University Hospital and Uppsala University, hopes to list on the Nasdaq First North and raise $15.8m.
OssDsign, a Sweden-based regenerative implant producer backed by Karolinska Development, the investment arm of Karolinska Institute, is aiming to list on the Nasdaq First North following a Skr151.3m ($15.8m) initial public offering.
The company will issue 5.5 million shares priced at about $2.90 each, implying a pre-money valuation for OssDsign of $35.1m.
Approximately 74% of the shares, worth some $11.7m in total, have already been subscribed to by institutional and private investors including Alto Invest, Handelsbanken Fonder, Lancelot Asset Management and Consensus Asset Management. OssDsign will also have a $2.7m overallotment option available in the event of strong investor interest.
Karolinska Development, which owned a 25% diluted stake in OssDsign as of March 2019 expects its earnings to rise by $1.3m in the second quarter of 2019 should the share issue perform as anticipated.
Founded in 2011 as Oss-Q, OssDsign makes bioceramic implants for craniofacial bone…
