STOCKHOLM, May 7, 2020
STOCKHOLM, May 7, 2020 /PRNewswire/ -- Nasdaq Stockholm's listing committee has decided that IRRAS AB (publ) ("IRRAS" or the "Company") fulfills the requirements for admission to trading of the Company's shares on the main market Nasdaq Stockholm subject to customary provisions. The first day of trading of IRRAS' shares on Nasdaq Stockholm is expected to be Wednesday, 20 May 2020. The last day of trading of IRRAS' shares on Nasdaq First North Premier Growth Market is expected to occur on Tuesday, 19 May 2020.
The shares that will be admitted to trading will be traded under the same tickers (IRRAS) and with the same ISIN code SE0008321202 as before. No new shares will be issued in connection with the listing on Nasdaq Stockholm Main Market. Shareholders of IRRAS do not need to take any action in connection with the change of listing venue.
"Following our recent capital raise in April, we are now in a strong financial position to continue the growth of IRRAS toward our goal of becoming a global leader in neurocritical care. It has been our stated ambition to carry out a change of listing venue to Nasdaq Stockholm Main Board during 2020 to raise the company's profile and deliver shareholder value, and this transition will further strengthen the quality associated with IRRAS," said Kleanthis G. Xanthopoulos, Ph.D., President & CEO of IRRAS.
"IRRAS is now well positioned to invest further in the commercialization of our IRRAflow and Hummingbird ICP monitoring product lines," said Will Martin, Chief Commercial Officer of IRRAS. "During the COVID-19 pandemic, our innovative products have continued to provide lifesaving treatment to critically ill patients around the globe, and, as the economy recovers, we are ready to continue the acceleration of our global launch."
For further information, please refer to the prospectus prepared in connection with the admission of trading of the Company's shares on Nasdaq Stockholm, which is expected to be approved and registered by the Swedish Financial Supervisory Authority as well as published on IRRAS's website (www.irras.com) on or about May 19 2020.
The approval is subject to customary conditions, including the approval and registration of a prospectus by the Swedish Financial Supervisory Authority, confirmation that the dispersion requirements in respect of the shares are fulfilled and that the Company submits the application for admission of trading of its shares on Nasdaq Stockholm.
In conjunction with the listing, Carnegie Investment Bank acted as financial adviser and Setterwalls Advokatbyrå as legal adviser to the Company.
IRRAS is a global medical care company focused on delivering innovative medical solutions to improve the lives of critically ill patients. IRRAS designs, develops, and commercializes neurocritical care products that transform patient outcomes and decrease the overall cost of care by addressing complications associated with current treatment methodologies. IRRAS markets and sells its comprehensive, innovative IRRAflow and Hummingbird ICP Monitoring product lines to hospitals worldwide through its direct sales organization in the United States and select European countries as well as an international network of distribution partners.
IRRAS maintains its headquarters in Stockholm, Sweden, with corporate offices in Munich, Germany, and San Diego, California, USA. For more information, please visit www.irras.com.
IRRAS AB (publ) is listed on Nasdaq First North Premier Growth Market (ticker: IRRAS). Redeye AB is certified adviser of the company with email, email@example.com, or phone +46 8 121 576 90.
For more information, please contact:
Kleanthis G. Xanthopoulos, Ph.D.
President and CEO
This information is information that IRRAS is obliged to disclose pursuant to the EU Market Abuse Regulation. The information was released for public disclosure, through the agency of the contact person above, on May 7, 2020 at 17:30 (CET).
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IRRAS to list on Nasdaq Stockholm