Prolight Diagnostics: Gearing up for commercialisation with strong insider backing - Emergers
Strong insider commitment signals confidence
ANNONS
As expected, Prolight has now announced a rights issue of SEK 100m to finance the development of Psyros and reach commercialisation. The announcement contains several noteworthy points, of which a–c are particularly strong votes of confidence from within the company:
a) CEO Ulf Bladin is committing SEK 1m to the rights issue, alongside SEK 2.4m from other insiders.
b) The contract manufacturer ITL will participate with SEK 9.9m via set-off against future costs for instrument development and production.
c) Prolight has chosen not to use underwriters (an increasingly common but costly and shareholder-unfriendly practice in such issues).
d) This in turn limits the issue cost to a maximum of SEK 4.5m, which significantly lower compared to similar transactions with underwriters.
