PMD Device Solutions AB (“PMDS” or the “Company”) announces the outcome in the rights issue which was announced by the Company on June 11, 2024, and resolved by the Company’s board of directors on July 5, 2024 based on the authorization from the Annual General Meeting on June 28, 2024 (the “Rights Issue”). The Rights Issue was subscribed to approximately SEK 2.6 million, corresponding to approximately 9.5 percent, which means that approximately 70.5 percent of the total volume of the Rights Issue is allocated to underwriters. Through the Rights Issue, the Company will obtain approximately SEK 22.0 million before issue costs.

"Our decision to proceed with this Rights Issue is a strategic move that positions PMDS for long-term growth and success. By investing in additional sales activities in the US market and improving our balance sheet, we are fortifying the company’s foundation. This initiative not only enhances value for our shareholders but also aligns with our financial objectives. We are confident that these steps will enable us to achieve our goal of generating sufficient annual recurring revenue (ARR) by December 31st, 2024, paving the way for sustained profitability into 2025. Furthermore, our outlook for our US and UK businesses remains robust, with a confident growth prospect in 2024 and beyond," said PMDS Founder CEO Myles Murray.

Outcome of the Rights Issue
The subscription period ended on September 2, 2024. The outcome shows that 214,734 shares, corresponding to approximately 3.4 percent of the Rights Issue, were subscribed for with subscription rights, and 381,431 shares, corresponding to approximately 6.1 percent of the Rights Issue, were subscribed for without subscription rights. Furthermore, the underwriters are allotted 4,407,473 shares, corresponding to approximately 70.5 percent of the Rights Issue. Through the Rights Issue, the Company obtains approximately SEK 22.0 million before issue costs.

For underwriting commitments, an underwriting compensation of fifteen (15) percent of the underwritten amount is paid in cash, or twenty (20) percent of the underwritten amount in newly issued shares.

Notice of allotment and delivery
The allotment of shares subscribed for without subscription rights has been made in accordance with the terms of the Rights Issue, which are stated in the Information Memorandum that the Company published on August 16, 2024 (the “Information Memorandum”). Notification of such allocation will be communicated separately by registered settlement note. Nominee registered shareholders will receive a notice of allocation in accordance with instructions from the respective nominee.

Number of shares and share capital
When the Rights Issue is registered with the Swedish Companies Registration Office, the total number of shares in PMDS will increase by 5,003,638 shares, from 20,848,530 shares to 25,852,168 shares, and the share capital will increase by SEK 25,626,017.75, from SEK 106,775,270.26 to SEK 132,401,288.01.

Trading with paid interim shares (“BTA”)
Trading with BTA (Paid Interim Shares) takes place on Nasdaq First North Growth Market until the conversion of BTA into shares after registration of the Rights Issue with the Swedish Companies Registration Office. Registration with the Swedish Companies Registration Office is expected to take place during week 38, 2024.

Advisors
Stockholm Corporate Finance AB is acting as financial adviser to the Company in the Rights Issue. Eversheds Sutherland Advokatbyrå AB is acting as the legal adviser to the Company. Nordic Issuing AB is the issuing agent in the Rights Issue.

For additional information, please contact
Otto Rydbeck, CEO Stockholm Corporate Finance
Phone: +46 8 440 56 40
E-mail:otto.rydbeck@stockholmcorp.se

Myles Murray, CEO PMDS
Phone: +353 86 887 4994
E-mail: myles@pmd-solutions.com & for general enquiries investor.relations@pmd-solutions.com

About PMDS
PMD Device Solutions AB develops and sells medical products for respiratory monitoring in both the hospital acute monitoring sector and the remote monitoring homecare sector. Its primary product is RespiraSense, a solution used for monitoring respiratory rate to support the detection of patient deterioration early and to avoid preventable respiratory failure and adverse patient outcomes. RespiraSense is, to the Company’s knowledge, the world’s only continuous, motion-tolerant respiratory rate monitor delivering class-leading reliability in measuring respiratory rate. RespiraSense is a novel technology that is commercialised in Europe, the UK, and FDA cleared in the US. The company’s shares are listed on Nasdaq First North Growth Market (STO: PMDS).

About Stockholm Corporate Finance AB
Stockholm Corporate Finance is an independent privately owned financial advisor that offers qualified advice on capital raising, changes of ownership, mergers and acquisitions (M&A) to listed and private companies and their owners. Stockholm Corporate Finance is an investment firm under the supervision of the Swedish Financial Supervisory Authority and is a member of the industry association SwedSec Licensiering AB. For more information, see: www.stockholmcorp.se

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