The portion of the New Shares to be issued in the IPO was announced to be 14.30 percent of the Company's shares. The correct number is 12.50 percent.
The corrected company announcement is presented below:
The initial public offering of BBS-Bioactive Bone Substitutes Plc ended. Listing at the Nasdaq First North Finland and Sweden marketplaces have been applied - Trading begins about 28.02.2018
BBS-BIOACTIVE BONE SUBSTITUTES PLC COMPANY ANNOUNCEMENT 20 FEBRUARY 2018 AT 17:00 EET
Not for publication or distribution, directly or indirectly, in or into the United States, Canada, Australia, Hong Kong, South Africa, Singapore, Japan, New Zealand or any other country, in which the publication or distribution of this presentation would be unlawful.
The IPO (as defined below) of BBS-Bioactive Bone Substitutes Plc ("BBS" or the "Company") has ended and the Board of Directors of the Company has today accepted subscriptions.
Pekka Jalovaara, CEO of BBS-Bioactive Bone Substitutes Plc comments:
"We wish the over 1100 new shareholders welcome to our company! The company is now focusing on the finalization of the application process of the sales license and the marketing. Turbulence in the Stock Market at the Launch had an impact on the result of the IPO but considering the conditions we are anyway happy with the IPO."
BBS will issue a total of 636 519 new shares in the Company (the "New Shares"). The New Shares to be issued in the Share Issue correspond to 12.50 percent of the Company's shares and votes immediately after the IPO. The subscription price of the Offer Shares was EUR 5.50 per share in the IPO. The valuation of the Company is approximately EUR 28 million immediately following the IPO.
All subscribers obtained the shares they had subscribed. 455 958 of the shares were allocated in Finland and 84 815 shares in Sweden, respectively.
A total 81 835 shares were subscribed in the pre-emptive subscription corresponding to EUR 450 092.5. Pre-emptive subscribers were EAKR-aloitusrahasto Oy, Finha Capital Oy and Innovestor Kasvurahasto I Ky. Company decided to pay 13 911 shares as subscription commissions. Current shareholders did not sell their shares.
BBS will receive gross proceeds of approximately EUR 3.5 million from the IPO. The total number of the Company's outstanding shares amounts to 5 090 520 shares after the IPO. The total number of shareholders will increase to over 1150 shareholders after the IPO.
Recording the Offer Shares issued in the IPO in the book-entry accounts of investors who have made an approved subscription commitment will be commenced on or about 26 February 2018 through Euroclear Finland Ltd.
Trading in the shares is expected to begin on the First North Finland marketplace under the share trading code "BONEH" and on the First North Sweden marketplace under the share trading code "BONES" on or about 28 February 2018. The ISIN code is FI4000260583.
Nordnet Bank AB acts as the lead manager in the IPO. Aalto Capital Partners Plc in Finland and Stockholm Certified Advisers AB in Sweden act as the Company's Certified Advisors under First North Nordic Rulebook.
Pekka Jalovaara, CEO,
tel. +358 50 5529275, e-mail: email@example.com
Hannu Säynäjäkangas, CFO,
tel. +358 40 5021092, e-mail: firstname.lastname@example.org
Hanna Tölli, Production Manager,
tel. +358 40 0953131, e-mail: email@example.com
BBS-Bioactive Bone Substitutes Plc ("BBS") is the health technology company operating since 2003. Before that there was a background of seven years of product development in the University of Oulu. We have developed a new product for healing of difficult bone fractures and for solving the problems in bone healing. Our mission is to offer new generation medicinal products for the orthopedic surgery. The research and development in the field of medicine requires perseverance and courage to develop new things. We have over 20 years of expertise in this. Our operations are characterised by top expertise, innovativeness and dedicated and committed employees. The ARTEBONE ®product is ready and the application process for the CE-mark has been initiated. BBS is the company having its headquarters in Oulu. We have our own production plant located in Reisjärvi and it is approved by FIMEA. More information: www.bbs-artebone.fi.
Nasdaq Helsinki Ltd
Nasdaq Stockholm Ltd
This presentation does not constitute an offer of securities for sale in the United States, nor may the securities be offered or sold in the United States absent registration or an exemption from registration as provided in the U.S. Securities Act of 1933, as amended, and the rules and regulations thereunder. No part of the initial public offering concerning the securities is registered in the United States, and the securities will not be offered to the public in the United States.
In connection with the Company's possible initial public offering, with respect to each Member State of the European Economic Area other than Finland and Sweden, and which has implemented the Prospectus Directive (each, a "Relevant Member State"), no action will be undertaken to make an offer to the public of securities requiring publication of a prospectus in any Relevant Member State. As a result, in connection with the Company's possible initial public offering, the securities may only be offered in Relevant Member States (a) to any legal entity which is a qualified investor as defined in the Prospectus Directive; or (b) in any other circumstances falling within Article 3(2) of the Prospectus Directive. For the purposes of this paragraph, the expression an "offer of securities to the public" means the communication in any form and by any means of sufficient information on the terms of the offer and the securities to be offered so as to enable an investor to decide to exercise, purchase or subscribe the securities, as the same may be varied by any measure implementing the Prospectus Directive in that Relevant Member State. The expression "Prospectus Directive" means Directive 2003/71/EC (and amendments thereto, including the 2010 PD Amending Directive, to the extent implemented in the Relevant Member State), and includes any relevant implementing measure in the Relevant Member State and the expression "2010 PD Amending Directive" means Directive 2010/73/EU.
This announcement is directed only at (i) persons who are outside the United Kingdom or (ii) persons who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") and (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2) of the Order (all such persons together being referred to as "relevant persons"). Any investment activity to which this communication relates will only be available to and will only be engaged with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.