Less than five years since it was founded by a young team looking to produce and sell bioinks to the then very young bioprinting market, CELLINK is moving up to the NASDAQ Stockholm Main Market Mid-Cap
In this short time span, the firm that originated in Gotheborg, Sweden expanded operations to the US (Boston) and now to 6 countries, with a global team of over 200 individuals and with nearly 1,000 bioprinting labs as customers around the globe.
The approval is conditional upon the fulfillment of customary conditions, among others that a prospectus is approved and registered by the Swedish Financial Supervisory Authority (“SFSA”). The trading of the Company’s shares on Nasdaq Stockholm Main Market is expected to commence on Monday, April 20, 2020, and the last day of trading on Nasdaq First North Growth Market is expected to be Friday 17 April.
CELLINK’s shares will continue to be traded under the same ticker (CLNK) and ISIN code (SE0013647385). No new shares will be issued in connection with the listing. Shareholders of CELLINK do not need to take any action in connection with the listing on Nasdaq Stockholm Main Market.
The listing on Nasdaq Stockholm is expected to attract a broader group of investors and give CELLINK greater access to the Swedish and international capital markets. The listing on Nasdaq Stockholm Main Market is also expected to improve the ability for CELLINK to acquire new companies, raise capital and continue to pursue the organic growth strategy.
CELLINK’s Board of Directors and management believes that the listing on Nasdaq Stockholm is an important step in the development of the Company. The listing on Nasdaq Stockholm Main Market is expected to further increase the awareness about CELLINK from existing and new potential shareholders, customers and suppliers. For these reasons, the board of directors of CELLINK has made the assessment that a listing on Nasdaq Stockholm will support the Company’s next steps towards its long-term targets.
In the fiscal year 2018-2019 the company recorded total revenues for 105,000 SEK (€9.5 million), an increase of 131% compared to the previous fiscal year. The company’s position on the world market has been strengthened as a result of continued investment in product development and two strategic acquisitions: the acquisition of the German single-cell printing company cytena GmbH was completed in August and the acquisition of the German dispensing company Dispendix GmbH was finalized in December. Direct sales during the year made up 50% of the company’s revenue and have increased from 40% to over 60% compared to the previous year. During the past fiscal year, CELLINK and its subsidiaries have successfully progressed within the pharmaceutical industry and sold their technology platform to the majority of the world’s 25 largest pharmaceutical companies.