Redeye comments on today’s announcements that Nanologica has updated its strategy, appointed board member Mark Quick as new Group CEO and resolved to carry out a partially secured rights issue of units of approximately SEK110.5m, with an option to issue up to an additional SEK10m in case of oversubscription. The rights issue is secured to approximately 77.6% through subscription undertakings, guarantee commitments and a guarantee intention. Since Redeye Corporate Finance acts as financial adviser to the company in connection with the rights issue, we will not provide any assessment of the announcements or an updated valuation, and we will pause our research coverage of Nanologica until the transaction is completed.
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