Lifecare is trading at NOK 2.5, the price of the recently completed private placement, and there is therefore no need for a public issue at the same price. The issue of up to 3 million shares is therefore cancelled.
Lifecare: Ticker: LIFE | Price: NOK 2.50 | Market Cap.: 260 MNOK | YTD price development: 47%
Lifecare is a Medtech company that develops a smart and revolutionary biosensor that, when inserted in the wrist for example, continuously monitors the glucose (sugar) level in the blood and displays it via e.g. a smart watch. This is badly needed by the more than 500 million patients with diabetes, but at the moment the most common method is to take blood samples several times a day. Lifecare’s sensor can also be used to detect other biomarkers, but currently the company’s focus is diabetes and to launch Sencell Glucose in 2024.
The market price is below the theoretical price
The share price of Lifecare fell from NOK 3.40 before the announcement of the private placement to NOK 2.50. The theoretical share price is 3.2. At NOK 2.50, shares are thus trading below the theoretical price.
Price development of Lifecare AS vs. Kapital Partners Healthcare Index