IPO 2018

Public Offering

Important dates

Company in brief

Funds to be procured

Materials

Releases

Public Offering

BBS-Bioactive Bone Substitutes Plc’s First North Public Offering

The IPO (as defined below) of BBS-Bioactive Bone Substitutes Plc (”BBS” or the ”Company”) has ended. The subscription period for the Offering commenced on 5th February 2018 and ended on 18th February 2018. The Board of Directors of the Company accepted subscriptions on 20th February 2018.
BBS issued a total of 636 519 new shares in the Company. The New Shares issued in the Share Issue correspond to 12.50 percent of the Company’s shares and votes immediately after the IPO. The subscription price of the Offer Shares was EUR 5.50 per share in the IPO. The valuation of the Company is approximately EUR 28 million immediately following the IPO.
All subscribers obtained the shares they had subscribed. 455 958 of the shares were allocated in Finland and 84 815 shares in Sweden, respectively. A total 81 835 shares were subscribed in the pre-emptive subscription corresponding to EUR 450 092.50. Pre-emptive subscribers were EAKR-aloitusrahasto Oy, Finha Capital Oy and Innovestor Kasvurahasto I Ky. Company decided to pay 13 911 shares as subscription commissions. Current shareholders did not sell their shares.
BBS will receive gross proceeds of approximately EUR 3.5 million from the IPO. The total number of the Company’s outstanding shares amounts to 5 090 520 shares after the IPO. The total number of shareholders will increase to over 1150 shareholders after the IPO. The objective of the Offering is primarily to enable the Company to raise funds to complete ARTEBONE®’s ongoing application processes for the CE mark and FDA approval, begin commercial production and the commercialisation of the product. The use of the funds has been described in more detail in the Listing Prospectus.
Trading in the shares is expected to begin on the First North Finland marketplace under the share trading code ”BONEH” and on the First North Sweden marketplace under the share trading code “BONES” on or about 28 February 2018. The ISIN code is FI4000260583.
Aalto Capital Partners Plc in Finland and Stockholm Certified Advisers AB in Sweden act as the Company’s Certified Advisors under First North Nordic Rulebook.

Important dates

Important dates (times are Finnish time)

• The subscription period for the Offering commenced on 5th February 2018.
• The subscription period ended on 18th February 2018.
• The final result of the Offering announced on 20th February 2018.
• Trading in the Shares commenced on First North Finland and First North Sweden on 28th February 2018.

Company in brief

BBS-Bioactive Bone Substitutes Plc (”BBS”) is a Finnish health technology company that has developed a new generation innovative medical device product for the treatment of bone defects in orthopaedic and traumatological surgery. The Company has no turnover.

BBS-Bioactive Bone Substitutes Plc was established in 2003. A seven-year product development project at the University of Oulu preceded the establishment of the Company. The Company’s domicile is Oulu, and it has 12 employees. The Company also has a scientific advisory board consisting of medical experts. The Company has an authorised production facility for bone protein extract and is in the process of obtaining ISO 13485 certification for the ARTEBONE® implant production line.

The Company’s first product ARTEBONE® is an injectable paste in a ready-to-use syringe, injected into the bone’s problem spot or fracture area. It is designed to promote the natural healing of the bone by utilising growth factors extracted from reindeer bone and tricalcium phosphate (TCP) ceramics that act as a base for bone formation. All of the preclinical testing and clinical tests have been done, and the Company has launched the application process for the CE mark. The CE mark is a prerequisite for the commercialisation of ARTEBONE® in the EU area.

ARTEBONE®’s benefit is that it reduces expensive operating room time compared to the use of the patient’s own bone and speeds up the patient’s recovery time, as well as reducing treatment costs.

Funds to be procured

The objective of the Offering is primarily to enable the Company to raise funds to complete ARTEBONE®’s ongoing application processes for the CE mark and FDA approval, begin commercial production and the commercialisation of the product. Funds are also needed to continue product development, develop and maintain the patent portfolio, ensure sufficient self-financing for growth investments in accordance with the Company’s strategy and hire additional staff for sales and marketing. The use of the funds is described in more detail in the Listing Prospectus.

Materials

TILLÄGGSDOKUMENT AVSEENDE LISTNING AV BBS-BIOACTIVE BONE SUBSTITUTES OYJ
The listing prospectus in English
The terms of the IPO
Articles of Association
BBS Plc’s Balance book (Annual report, Financial statement and Audit report 1.1. – 31.12.2017)
BBS Plc’s Balance book (Annual report, Financial statement and Audit report (in Finnish) 1.1. – 31.12.2016)
BBS Plc’s Balance book (Annual report, Financial statement and Audit report (in Finnish) 1.1. – 31.12.2015)
Marketing Brochure (in Finnish)
Investor presentation (in Finnish)

Releases

Regulatory releases and press releases

Live: BBS-Bioactive Bone Substitutes company presentation 6.2.2018 in Helsinki Nordnet: