Two stock offerings
IPO on WSE

In 2011, we prepared and executed for Medicalgorithmics S.A. the raising of development capital through a share offering directed to institutional investors, floated the Company’s shares on the NewConnect market, and subsequently served as the Company’s Authorized Adviser. In 2011–2012, we advised on the preparation and implementation of two private placements of shares, from which the Company raised a total of more than PLN 60 million. We also acted as a financial adviser in the process of preparing the prospectus and the successful IPO on the WSE.

Medicalgorithmics S.A. operates in the medical sector, and is a provider of globally unique system and algorithmic solutions used in cardiac diagnostics, particularly in the field of ECG signal analysis. The company has developed and is the manufacturer of the globally highly advanced PocketECG system, which enables a multi-week diagnosis of cardiac arrhythmias by generating real-time results with the accuracy of a Holter test, sent in real time to a specialist/monitoring center. In 2018, the company launched a new solution, the PocketECG CRS system for cardiac telerehabilitation, for use both in medical facilities and at the patient’s home. Medicalgorithmics S.A. provides services in more than a dozen countries around the world, including North and South America, Europe, and Australia. The largest market is the United States. Medicalgorithmics has made significant contributions to the development of the global cardiac diagnostic technology industry, including through active collaboration with the Harvard-MIT Division of Health Sciences and Technology in the construction of physiological signal databases (Physionet), created and used by scientists around the world in the development of new medical information technologies. In 2011-2012, we were the Company’s financial and transaction adviser in obtaining successive rounds of development financing and going public on NewConnect and then on the Warsaw Stock Exchange.

Deal timeline

September 2011: the company raised more than PLN 6.1 million in a private placement of Series C shares; institutional investors took up more than half of the shares.
November 9, 2011: the company’s shares debuted on NewConnect, with 1,747,200 Series A shares, 508,200 Series B shares and 236,926 Series C shares admitted to trading.
July 2012: the company raised PLN 56 million from a share issue that we carried out together with the Trigon brokerage house.
July 2012: no biomedical company listed on NewConnect had raised as much from a share issue before.
July 2012: the issue was directed mainly at financial investors, including pension funds.

Service: IPO on the Warsaw Stock Exchange

Client:

MEDICALGORITHMICS S.A.