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Third party research

Prolight: Fully subscribed rights issue strengthens Psyros case ahead of commercial partnerships - Emergers

Prolight Diagnostics

This is a third party research report and does not necessarily reflect our views or values

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Prolight announced that its rights issue was fully subscribed, eliminating near-term financing risk and securing the capital needed to finalise the development, verification and pilot production of the PsyrosTM system. The broad participation from the board, management and the company’s manufacturing partner (totalling SEK 20m) underscores confidence in Prolight’s strategy ahead of the critical commercial partnering discussions. With net proceeds of approximately SEK 100m before issue costs and set-offs and a new total share count of 1,203.6 million shares, we continue to find support for a fair value range of SEK 0.73–0.80 per share after the raise.
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