Transaction Description
Gemstone Capital acted as financial advisor and sole bookrunner in this transaction. The Rights Issue comprised a maximum of 11,475,362 units. Upon full subscription, Tendo would initially receive 20.2 MSEK before issue costs. A total of 5,851,317 units, corresponding to 50.99 per cent of the Rights Issue, were subscribed for, excluding set-off of bridge loans. Including the set-off of bridge loans, a total of 6,800,977 units were subscribed for, corresponding to 59.27 per cent of the Rights Issue. Through the Rights Issue, Tendo will receive approximately SEK 10.3 million before issue costs.
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Company Description
Tendo has developed a medical device called OneGrip that helps the user to grasp, hold and release objects. The target patient group is people with impaired hand function resulting from a spinal cord injury. Tendo focuses on restoring hand function, thereby contributing to increased independence for its users. The company estimates that 25% of all people with a spinal cord injury can benefit from OneGrip.
