Sequana Medical NV – (“Sequana Medical”, the “Company”), a commercial stage medical device company focused on the development of innovative treatment solutions for the management of liver disease, heart failure, malignant ascites and other fluid imbalance disorders, today announces the results of its initial public offering of new shares, with the admission of all of its shares to trading on the regulated market of Euronext Brussels under the symbol “SEQUA”, launched on 31 January 2019 (the “Offering”).
The final offer price for the Offering has been set at €8.50, giving the Company an initial market capitalisation of €107.2 million. Gross proceeds for the Company from the Offering amounted to €27.5 million.
The orderbook has been built with strong local support from high-quality long-term institutional and retail investors, as well as a mix of long-term, specialist and generalist investors across Europe.
Ian Crosbie, Chief Executive Officer of Sequana Medical commented: “Today marks a significant milestone for Sequana Medical as we have successfully completed this fundraising process, attracting investment from both high-quality institutional investors and retail investors in Belgium. Given the challenging climate in the global equity markets, we see this successful fundraising as a clear vote of confidence from our existing shareholders and new investors. The funds raised will enable us to further invest in our commercial and clinical development with the goal to make the alfapump® and alfapump® DSR available to a broader patient group and address important unmet medical needs, which in turn will create value for our shareholders. We would like to thank all of our existing and new investors for their continued support and look forward to the next phase in our corporate development.”