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Completed Transactions

Initial public offering

Sprint Bioscience

In October 2014 Redeye advised Sprint Bioscience on the initial public offering and listing on First North. The total capital raised was SEK 22,5m. Sprint Bioscience is a drug development company operating in the preclinical area of the drug discovery process. The company develops oncology therapeutics targeting cancer metabolism and lipid signaling.

Peptonic Medical

In June 2014 Redeye advised Peptonic Medical, a leading research based life science company on the initial public offering and listing on AktieTorget. The total capital raised was around SEK 23m. The proceeds are intended to implement a phase 2B study of an estrogen-free treatment for vaginal atrophy.

Scandidos

In April 2014 Redeye advised well established medtech company ScandiDos on the company’s initial public offering and listing on NASDAQ OMX First North. The offering of SEK 21.5m was more than six times oversubscribed, adding 2,000 new retail and institutional owners to the company. In addition, Redeye advised ScandiDos on a directed rights issue of SEK 4.3m which was subscribed by two  institutional investors.

Public equity issues

Anoto

In July 2015 Redeye acted as financial advisor and sole bookrunner in the company’s directed rights issue of SEK 40.5m. The new shares were placed with Swedish and international investors through an accelerated book building procedure. The proceeds from the rights issue will be used to strengthen the company’s working capital to meet an anticipated increased growth in sales.

Anoto

In June 2015 Redeye acted as financial advisor and sole bookrunner in the company’s directed rights issue of SEK 15.3 m. The new shares were placed with an American institutional investor through an accelerated book building procedure. The proceeds from the rights issue will be used to strengthen the company’s working capital.

Karo Bio

In June 2015 Redeye advised leading life science company Karo Bio AB in the company’s fully guaranteed rights issue of SEK 230m. Karo Bio is a development company with a focus on broadening its activities to cover projects and products closer to market. The company has several projects on the way to the clinical phase. Operations are conducted in Huddinge, Sweden and the share is listed on Nasdaq Stockholm.

aXichem

In April 2015 Redeye advised clean tech company aXichem on its fully guaranteed rights issue of SEK 12.9m, including an option to issue an additional number of shares up to the amount of SEK 4.0m. The proceeds from the rights issue were used to finalise commercialization of the company’s first own products. aXichem develops, patents and markets natural-analogue industrial compounds. aXichem aims to become a global supplier of natural-analogue industrial compounds to the chemical industry. The company’s shares are listed on First North at NASDAQ Stockholm.

Eurocine Vaccines

In April 2015 Redeye acted as financial advisor to Eurocine Vaccines (“Eurocine”) in the company’s fully guaranteed rights issue of SEK 23.1m. Eurocine develops vaccines against the flu, primarily for children between the age of 6 months and 2 years, an area with a substantial market potential. The company’s vaccine Immunose FLUTM has shown very good results in animal studies and initial studies in humans. In April 2015 Redeye acted as financial advisor to Senzime in the company’s directed rights issue of SEK 10m. The funds were used by Senzime to finance the strategic acquisition of MD Biomedical, allowing Senzime to offer a complete patient monitoring system, specializing in intensive care. The new shares were issued to a limited number of qualified investors. 

Anoto

In March 2015 Redeye acted as financial advisor and sole bookrunner in the company’s directed rights issue of SEK 34m. The new shares were placed with a limited number of qualified Swedish and foreign investors through an accelerated book building procedure. 

EXINI Diagnostics

In January 2015 Redeye advised EXINI Diagnostics (“Exini”) in the company’s fully guaranteed rights issue of SEK 22m. The transactions included bridge financing and a block transaction of shares from the main owner to a consortium of new investors. Exini’s unique image analysis software increases accuracy and improves clinical time-flow when treating e.g. advanced prostate cancer. The software has been installed in 800+ clinics in Japan, equal to 75 per cent market penetration. With the proceeds from the rights issue Exini will expand into Europe and the US.

Senzime

In December 2014 Redeye acted as financial advisor to leading biotechnology company Senzime in a rights issue of SEK 22m. Senzime develops and markets products for the healthcare and pharmaceutical markets based on proprietary biosensor technology. The technology makes it possible to measure for instance glucose or lactate in blood or plasma, continuously and automatically with excellent precision.

Anoto

In October 2014 Redeye acted as advisor to Anoto in a rights issue of SEK 68,0m. Anoto strives to capture the opportunities within strategically prioritised segments like pen-on-screen and collaboration, working with global customers and partners. Anoto is listed on Nasdaq OMX Small Cap.

Anoto

In June 2014 Redeye advised Anoto in a SEK 17.0m directed offering of a Convertible Bond to a selection of Swedish and international investors through a book building procedure. The proceeds are intended to strengthen the working capital. The Anoto share is traded on the Small Cap list of NASDAQ OMX Stockholm.

Karo Bio

In March 2014 Redeye advised research company Karo Bio in raising SEK 84.7m in a combined rights and directed issue.  The rights issue was 85 per cent secured through subscription undertakings and guarantees by management and institutional investors. The directed issue was subscribed by industry profile Anders Lönner (ex-CEO of specialty pharma company Meda) who took the role of Chairman of the Board in Karo Bio.

Anoto

In March 2014 Redeye advised Anoto in a SEK 16.4m directed offering to a selection of Swedish and international investors through a book building procedure. The offering was substantially oversubscribed and the price equals the average share price the last 20 trading days. The proceeds are intended to strengthen the working capital. The Anoto share is traded on the Small Cap list of NASDAQ OMX Stockholm.

Hexatronic

In February 2014 Redeye advised Hexatronic in raising SEK 27m in a directed offering to a selection of investors. Group concentrates on products for broadband over fiber. Complete product line within passive and active optical-fibre infrastructure. Hexatronic is currently listed on Aktietorget.

Eurocine Vaccines

In February 2014 Redeye advised Eurocine Vaccines in raising SEK 7.6m in a directed offering to an international institution. Eurocine Vaccines is a clinical-stage company developing nasal vaccines. Eurocine Vaccines has been listed on Aktietorget since 2006.

Respiratorius

In February 2014 Redeye advised Respiratorius in raising SEK 9m in a directed offering to a selection of investors. Respiratorius develops new and effective candidate drugs for treatment of cancer, COPD and asthma. Hexatronic is listed on Aktietorget.

Genovis

In December 2013 Redeye advised Genovis in its combination of preferential and directed rights issues amounting to SEK 29 m. Genovis develops and sells innovative technologies from two unique product portfolios in the fields of antibody based drugs and nanotechnology. Genovis shares are listed on the First North OMX Nordic Exchange.

Anoto

In November 2013 Redeye advised Nasdaq OMX listed Anoto Group AB (publ.) in a SEK 65m rights issue. The rights issue was 100 per cent secured through subscription undertakings from professional investors. The capital acquisition laid the foundation for the company to continue its international expansion and pursue the growth opportunities available for the company’s technology for digital writing.

MultiQ

In September 2013 Redeye advised MultiQ International AB listed on NASDAQ OMX in raising SEK 15m in a rights issue, while in a simultaneous transaction acquiring competitor Publiq Systems Nordic AB.  The rights issue was fully secured through subscription undertakings from existing shareholders and the acquisition was carried out in the form of a placement of new shares with the shareholders of Publiq Systems Nordic AB. The acquisition will create the leading player in Digital Signage in northern Europe, with strong positions in retail gaming, security, banking and transportation.

Bioinvent

In June 2013 Redeye advised BioInvent in raising SEK 23m in a rights offering. The rights offering was secured through subscription undertakings from existing shareholders and guarantees from external investors. The rights issue was oversubscribed. BioInvent International AB, listed on the NASDAQ OMX Stockholm (BINV), is a research-based pharmaceutical company focused on discovery and development of innovative antibody-based drugs against cancer. The Company's pipeline currently includes three product candidates for the treatment of cancer.

Botnia Exploration

In June 2013 Redeye advised Botnia Exploration in raising SEK 13m in a rights offering, including a directed placement of SEK 6.2m. The rights issue is 100% guaranteed. The purpose of the rights issue is to continue the development of Vindelgransele in Västerbotten and among other projects drill Fäboliden C and adjacent deposits. Botnia Exploration is an exploration company. Botnia Exploration’s main priority is gold, but the project portfolio also includes other precious and base metals. The company is operating in Sweden, aiming at the early phases of ore deposit development.

Karo Bio

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.

Eurocine Vaccines

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.

Bioinvent 

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.

NeuroVive

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.

Genovis

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.

Arctic Gold

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.

Mintage Scintific AB 

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.

Moberg Derma

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.

Secondary placing

Boule Diagnostics

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.

Demerger

Xvivo Perfusion

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.

M&A

Avaus Consulting

In August 2014 Siili Oy (listed on NASDAX OMX First North) announced the acquisition of leading Finish IT-consultancy Avaus Consulting Oy, including the group’s Polish subsidiary. Together with a local partner Redeye acted as advisor to Avaus in the trade sale process.

Siili Solutions Oyj is a Finnish IT company, established in 2005. The company offers IT services to various business fields like public administration, banking, media and industry.

Avaus Consulting Oy was founded in 2007. With customers like HBO, Kone, Sanoma and Rovio, the company has proven its ability to service and position its clients in the digital and mobile arenas.  

Hexatronic

In August 2014 Redeye acted as advisor to Hexatronic AB on its acquisition of Proximion AB.

Hexatronic Scandinavia AB is a leading innovative supplier of fiber solutions for the telecom industry. The company is listed on NASDAQ OMX First North.

Proximion AB is a high-tech producer of fiber optical dispersion compensation modules.

Alltele

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+.

MJP Waterjets

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.

Capilon

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. 

Allabolag.se

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.

Biolin Scientific

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.

Fairness Opinion

Geveko

In June 2015, Redeye was mandated by the board of AB Geveko (publ) (“Geveko”) to render an opinion as to the fairness of the proposed directed rights issue to Solix Group and the resulting compulsory redemption of shares from minority shareholders.  The directed rights issue amounted to SEK 200m and strengthened Geveko’s balance sheet.

ACAP Invest

In July 2014 Redeye rendered a fairness opinion with regards to the public offer from North Investment Group AB to acquire all outstanding shares of ACAP Invest AB. ACAP Invest AB is an investment company indirectly employing more than 340 people, in companies with a total turnover of SEK 571 million in 2013. The stock was listed on NASDAQ OMX Small Cap.

Availo

In May 2014 Redeye was contracted by the board of Availo AB to render a fairness opinion with regards to the public offer from IP Only AB to acquire all outstanding shares. Availo is one of the leading Nordic providers of data centre services. The stock was listed on NASDAQ OMX Small Cap.

Sigma

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.

Block transactions

Sprint Bioscience

In June 2015 Redeye placed 6.1 per cent of the outstanding shares in Sprint Bioscience on a number of qualified investors. The seller of the shares was Almi Invest, a state backed entity with a mission to support early stage companies.

Hexatronic

In August 2014 Redeye assisted Hexatronic’s CEO and founder Gert Nordin in placing 1,000,000 shares with institutional investors. The transaction amounted to a gross of SEK 17.0m. Hexatronic Scandinavia AB is a leading innovative supplier of fiber solutions for the telecom industry. The company is listed on NASDAQ First North.

Alligator Bioscience

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. 

Index Pharmaceuticals

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.

Hansa Medical and Genovis

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.

Private placements

Elk Studios

In January 2015 Redeye assisted mobile casino software developer Elk Studios in raising SEK 6m. The private placement was subscribed for by two investors with a long experience from the gaming industry. Elk Studios was founded in 2012 and was the first company to develop slots in HTML 5 for synched releases on desktop and mobile.

Scandidos

In May 2013, Redeye assisted Scandidos,  a well-established medical technology company providing both hardware and software within the field of cancer radiation therapy, in raising SEK 11.4m through a private placement. Scandidos’ competence includes the design and development of radiation detectors, electrometers and application software, as well as clinical experience in medical physics and radiation measurements. Since inception in 2002 the company has sold 300+ systems to hospitals and clinics worldwide

Lociloci

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.

Connected Table

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.