Brighter's management hereby informs that it has received information from Nasdaq that they have made an observation listing. The reason stated is that Nasdaq believes that Brighter does not meet Nasdaq's requirements for working capital for three months. Brighter does not share Nasdaq's opinion and will during the next few days conduct a dialogue with Nasdaq in this matter.
For the sake of clarity, we quote Brighter's statement in the year-end report (https://brighter.se/api/report/2750923/998470.pdf) published on Wednesday, February 27 regarding the company's financial prerequisites.
"The commercialization of Actiste, with an ambitious plan for development and growth, requires the company to have sufficient working capital to be able to finance both capital commitments in respect of future deliveries, inventory as well as the production facility. The Board and management therefore estimate that in 2019, the company will need to secure additional funding to be able to carry out operations based on the strategic direction that has been decided.
Upon submission of this report, the company has not yet secured all funding. However, the Board and management estimate that the company's ongoing financing and sales activities, combined with the additional liquidity that conversions of outstanding warrants will render, will likely finance the business for at least 12 months ahead."
For further information, please contact:
Truls Sjöstedt, CEO
Phone: +46 709 73 46 00
Ann Zetterberg, CFO
Phone: +46 708 37 21 23
About Brighter AB (publ)
Brighter is a Swedish-based company that, from a unique IP portfolio, creates smart solutions for one of healthcare's biggest challenges: changing patient behavior. Chronic diseases such as diabetes are rapidly increasing, and account for an increasing share of healthcare costs globally. Brighter's Business Model and Multi-Sided Market Platform - The Benefit Loop® - is based on the fact that many special interests create value for each other. By increasing access to valid health data, Brighter creates value for all stakeholders in the care chain: patients and their close associates, healthcare providers, research institutes, the pharmaceutical industry, and society as a whole. https://brighter.se/
The Company's shares are listed on NASDAQOMX First North/BRIG (http://www.nasdaqomxnordic.com/shares/microsite?Instrument=SSE86375). Brighter's Certified Adviser on Nasdaq OMX First North is Eminova Fondkommission AB, +46 (0)8 - 684 211 00, firstname.lastname@example.org, www.eminova.se.
This information is information that Brighter AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 08:59 CET on February 28, 2019.
This information was distributed by Cision http://www.cisionwire.se/