Redeye: Scibase (Q3 Review) - Rights issue of SEK83m to continue the growth journey


Igår, 10:22

Redeye provides an update following Scibase’s Q3 report and intensive news flow last Friday. Q3 figures slightly exceeded expectations, and the company continues to progress in the right direction. Scibase also announced an expanded collaboration with Castle Biosciences, a SEK20m convertible loan, the repurchase of TO 2 warrants, and a SEK83m rights issue. We see the repurchase of TO 2 as supportive for future share-price development. Additionally, the SEK83m rights issue (>80% covered by subscription commitments and intentions) removes short-term liquidity risk. Although the buyback of TO 2 and the share issue cause near-term dilution, they pave the way for investors to focus more clearly on Scibase’s underlying growth prospects. Given the dilution, we lower our fair value range.

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This is a press release from Redeye - Research Powered Investment Banking. www.redeye.se/

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Scibase (Q3 Review) - Rights issue of SEK83m to continue the growth journey

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