Redeye is a leading investment banking boutique focusing on small and
medium sized growth companies in the Nordic Countries.
We provide Corporate Broking, Corporate Finance, Equity Research,
Investor Services and Media Services.
In 2012-13, Redeye advised Alltele on a strategic review, including options in relation to a proposed Universal Telecom merger. Alltele is a listed alternative telecom provider, servicing both the residential and business markets, with pro-forma sales of SEK 1bn+.
In October 2012, Redeye advised Verdane and MJP Waterjets on its´ successful acquisition of Ultra Dynamics based in Cheltenham, England and Columbus, Ohio, USA, with the water jet brand Ultrajet. The merger between MJP Waterjets and Ultra Dynamics creates one of the leading providers of waterjets in the world comprising a complete and complementary product range.
MJP Waterjets develops heavy-duty water jet propulsion systems. Governments in 20 countries have chosen MJP Waterjets for their vessels. MJP Waterjets is based in Österby Bruk and Singapore.
Verdane, a leading private equity company founded in Norway, is the Nordic market's largest manager of secondary direct funds. The funds advised by Verdane have acquired seventeen portfolios with stakes in over 200 companies. MJP Waterjets is a Verdane portfolio company.
In March 2012, Redeye advised Verdane on its´ successful public offer to acquire all the outstanding shares and convertibles in Capilon AB for SEK 29 in cash. The shares and convertibles were traded on NASDAQ OMX First North. The offered share price implied a deal value of SEK 185m. Capilon’s Board of Directors unanimously recommended the Company’s shareholders to accept the offer.
Verdane, a leading private equity company founded in Norway, is the Nordic market's largest manager of secondary direct funds. The funds advised by Verdane have acquired seventeen portfolios with stakes in over 200 companies.
Capilon, an investment company focused on industrial investments. Capilon's business concept is to acquire and develop small and medium-sized industrial companies. Principal businesses are Scanacon, MJP Waterjets and Österby Gjuteri.
In January 2011, Redeye assisted Retriever AB, owned by TT (Tidningarnas Telegrambyrå) and NTB (Norsk Telegrambyrå), in its divestment of allabolag.se to UC AB (Upplysningscentralen). allabolag.se is a market leader in its segment and was the first site that, for free, offered a satisfactory alternative to the established business information services. An important factor for the rapidly growing popularity of the site is its accessibility to and usefulness for all users, not only for professionals. allabolag.se has reached a steady stream of around 200,000 unique visitors weekly.
The acquisition complements UC’s existing offer to small and medium sized enterprises.
In November 2010, Redeye assisted the main shareholder in Biolin Scientific AB in divesting the company to Ratos AB. Redeye received a mandate from Biolin’s main owner, Farstorp Invest AB, to divest the 32 percent stake in the company. Redeye approached a number of strategic and financial investors, which resulted in Ratos acquiring the shares and making a public tender offer for the additional shares outstanding. In January 2011, Ratos completed the acquisition of Biolin from the NASDAQOMX Stockholm exchange. The total deal value was SEK 277m. Biolin is a leading provider of analytical instruments for the nano-scale and molecular study of interfaces and interaction on surfaces.
In December 2012 Redeye advised Karo Bio in raising SEK 32.6m in a rights issue. The purpose of the issue was to secure funding that will allow the company to achieve a neutral cash flow, which is expected to be within reach in 2013.
Karo Bio is a research company focused on the development of innovative drugs acting through nuclear receptors. Karo Bio has previously conducted several clinical trials but has for some time had a strategy based on lower costs and reduced risk in the business. The aim is to reach agreements for the company's projects in an early phase to thereby generate income and reduce risk in the company.
In June 2012 Redeye advised Eurocine Vaccines in raising SEK 22m in a rights offering. The rights offering was 73% secured through subscription undertakings from existing shareholders and guarantees from external investors.
Eurocine Vaccines is a clinical-stage company developing nasal vaccines. The vaccines are developed up to proof of concept (clinical phase I/II) and licensed to partners for further development and commercialization. Present focus is on partnering the nasal influenza vaccine program, Immunose™ FLU, which has shown proof of concept in a clinical study, and on preclinical development of a nasal vaccine against bacterial pneumonia. Eurocine Vaccines has been listed on Aktietorget since 2006.
In April 2012, Redeye advised, structured and implemented the guarantee consortia in BioInvent´s preferential rights issue announced February 2012 amounting to SEK 105m. The rights issue was 100% guaranteed. The purpose of the rights issue is to strengthen BioInvent's financial position and thereby enable the fulfilment of the company's commercial strategy.
BioInvent International AB, listed on the NASDAQ OMX Stockholm, is a research-based pharmaceutical company that focuses on developing antibody drugs. The Company currently has four clinical development projects within the areas of thrombosis, cancer and atherosclerosis. The Company has signed various strategic alliances to strengthen the product pipeline and increase the likelihood of success. These partners include Genentech, Human Genome Sciences, Roche and ThromboGenics.
In April 2012, Redeye advised, structured and implemented the guarantee consortia in NeuroVive´s rights issue amounting to SEK 64.8m, jointly with Sedermera Fondkommission. The rights issue was 85% guaranteed. The purpose of the rights issue is to strengthen NeuroVive's financial position and thereby enable the fulfillment of the company's research area mitochondrial medicine. NeuroVive Pharmaceutical was founded in 2000 as a subsidiary of Maas Biolab, LLC (founded in 1997) with the aim of commercializing work on developing cyclosporine-based drugs for acute conditions and illnesses affecting the brain and central nervous system. NeuroVive went public in 2008.
In April 2012, Redeye advised, structured and implemented the guarantee consortia in Genovis´ rights issue announced February 2012 amounting to SEK 12.1m. The rights issue was 100% guaranteed.
Genovis develops and sells innovative technologies from two unique product portfolios. The first includes enzymes that facilitate development and quality control for applications such as antibody-based drugs. The second consists of nanotechnology in new contrast agents and focuses on design, production and characterization of nanostructures as contrast agents in medical imaging.
Genovis shares are listed on the First North OMX Nordic Exchange.
In December 2011, Redeye placed through a private placement 3 000 000 shares to a limited number of investors. The placement raised SEK 10.5m to the company before costs. Investors included Lennart Schönning, Tord Cederlund and Dr. Markus Elsasser, all with extensive experience from investing in mining companies. The purpose of the placement is to finance the continued development of Arctic Gold´s mining project in Bidjovagge, Norway.
In July 2011, Redeye assisted Mintage Scientific in raising SEK 12m in a rights offering. The rights offering was fully secured through subscription undertakings from existing shareholders and an external investor. Redeye acted as financial advisor to the company including arrangement of the transaction structure and production of the offering prospectus. Mintage Scientific is an investment company focussing on developing growth companies in the life science sector.
In May 2011, Moberg Derma conducted an IPO on NASDAQOMX Stockholm. In connection to the IPO, Redeye assisted in arranging an institutional investor consortium that subscribed for shares totalling SEK 64m. Moberg Derma is a Swedish pharmaceutical company that focuses on developing topical products for skin diseases.
In October 2012, Redeye and Nordnet jointly advised Boule Diagnostics in the secondary placing of 5.5 percent of the share capital in the company. In the placing Boule Diagnostics obtained more than 150 new shareholders. Boule Diagnostics core business is based on advanced systems for blood diagnosis and includes instruments and related consumables that are marketed in over 100 countries. Boule Diagnostics’ share were listed on NASDAQ OMX Stockholm, June 2011.
In October 2012, Redeye advised Xvivo Perfusion in the spin out of Vitrolife and listing on NASDAQ OMX First North. XVIVO Perfusion is a medical technology company focused on developing optimized solutions for organ, tissue and cell preservation in connection with transplantation. The company was previously a division within Vitrolife and has been spun out and distributed to Vitrolife’s shareholders. The largest shareholder in Vitrolife is the investment company Bure Equity. Since October 8, 2012, Xvivo Perfusion is listed on NASDAQ OMX First North with Redeye as Certified Adviser.
In March 2013, Redeye was mandated by Sigma AB to render an opinion as to the fairness, from a financial point of view, of the public offer from Danir AB to acquire all outstanding shares in Sigma. The public offer was announced 20 February 2013.
In June 2012, Redeye placed around 4 percent of the outstanding shares in Alligator Bioscience on a handful of private investors. Alligator Bioscience discovers and develops innovative protein based drug candidates for inflammation and cancer diseases with high unmet medical needs. Alligator Bioscience was founded in 2001 and is a privately held company located in Lund, Sweden.
In December 2010, Redeye placed 25 percent of the outstanding shares in InDex Pharmaceutical on two private investors. InDex Pharmaceuticals develops innovative drugs for the treatment of diseases within a variety of therapeutic areas, including inflammation and cancer.
In June 2011, Redeye assisted in arranging a block transaction in Hansa Medical and Genovis. In the transaction one of the leading shareholder in each company exchanged their share holdings between them. The total transaction value was around SEK 12m.
In April 2011, Redeye assisted Lociloci AB, a Swedish company providing positioning services for mobile devices, in raising SEK 10m in a private placement. Lead investor in the issue was Bonnier Media Invest (part of the Bonnier group). The residual has been subscribed by financial investors with entrepreneurial background. Using modern geo-positioning technology, Lociloci provides an operator independent service where for example the parents have the possibility to locate their children via their mobiles, to reduce uneasiness and anxiety. The company has 20 000 customers.
In April 2011, Redeye assisted in closing an equity issue of SEK 8m in Connected Tables, a Swedish provider of online poker software. The offering was directed at experienced investors in the betting segment. Connected Table develops innovative gaming software for the online poker market, the software is designed to attract more players and increase revenue per player. The company was founded in 2007 and is headquartered in Stockholm.