Levant Capital and its affiliates complete investment in IRRAS and acquire control of the listed medical device company
Stockholm, Sweden and Dubai, United Arab Emirates – 26 August 2022: On August 24th, IRRAS AB (“IRRAS” or “the Company”) (Nasdaq Stockholm: IRRAS) announced the results of its Rights Issue (see press release) in which it raised SEK 215m to ensure a successful implementation of the Company’s growth strategy, including financing of its ongoing operations and the continued commercialization of its product portfolio.
Levant Capital's investment vehicle received 26.9% of the rights issue, resulting in a post-offering ownership of 24.2%, making Levant Capital the largest shareholder of IRRAS and, together with its affiliates, gives it control of the Company with more than 53% of the post offering outstanding shares.
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 is listed on Nasdaq Stockholm (ticker: IRRAS).
About Levant Capital
Levant Capital is an independent financial services firm that is focused on private market investments and private client services catering to sophisticated family offices.
The firm was established in 2006 in Dubai and manages several funds that count regional and international institutions and leading family offices as investors. Levant Capital has significant experience investing in the consumer and healthcare sectors. Levant Investment Management Limited is regulated by the Dubai Financial Services Authority.