CLS today announced a rights issue of SEK ~48 million, with an ~7 million over-allotment option. The offer is covered to 80 percent of guarantee commitments. A directed share issue of SEK 10m is also announced. The units in the rights issue also include warrants. In the press release, we learn that the net proceeds will primarily be used for 1) Operating costs (~15%) 2) Clinical development (~35%) 3) Market development (~30%) 4) further product development(~20%). As Redeye is acting as Financial Advisor to CLS in connection with the company’s share issue, we present no research views on the valuation, nor will we make any estimate changes during the period of the issue, in line with general practice.

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