Apparently not, because when I calculated the net profit forecast for 2028 divided by 23.3, I got approximately 0.14 (forecasted). With the new approximately 30.8 share count and the same net profit, the EPS would be approximately 0.10.
Of course, if the funds received from the offering are used wisely, EPS can be higher in 2028 despite a larger number of shares. Itâs just strange that the same number of shares has been used as an assumption.
Here is a fresh company report from Siltanen following the rights issue announcement. 
Bioretec announced on Wednesday an expected financing round, which will be carried out as a EUR 9.2 million rights issue. The issue, fully guaranteed by the main owner, will increase the number of shares by 25%. The subscription price is 1.5 euros, which corresponds to a 25% discount compared to Tuesdayâs closing price. As the commercialization outlook remains unchanged, we are not making changes to our forecasts, but we are updating the issue figures and an estimate of future financing in our model. We are lowering our target price to 2.4 euros (previously 2.8) based on the terms of the issue and reiterate our âaddâ recommendation.
4 Likes
The previous DCF model was reported as 3.1, what lowered this to 2.7? Surely the previous one had taken these offerings into account since they were known? When one has shares in a share savings account, no subscription rights are received there. So these forecasts could be made based on already existing information.
Materials available:
EDIT: Some welcome news regarding the current shareholders:
Bioretecâs largest shareholder Stephen Industries Inc Oy
has, subject to certain customary conditions, committed to subscribe for
new shares in the share issue in full based on the subscription rights recorded for it.
Stephen Industries Inc Oy has
also given a subscription guarantee, according to which it will
subscribe for the remaining new shares that have not been allocated
in the secondary subscription. In addition, certain shareholders of the company,
including Mutual Pension Insurance Company Ilmarinen,
Handelsbanken Fonder AB, Investment Fund SÀÀstöpankki
Small Cap, Mutual Employment Pension Insurance Company Varma, Danske
Invest, VR Pension Fund, eQ Suomi and Aktia Fund Management Company Ltd on behalf of the funds managed by them
have announced
their intention to subscribe for new shares in the share issue in full
based on the subscription rights recorded for them.
8 Likes
Why hasnât this CEO matter been communicated to the owners yet? One would think some announcement would be made when such a significant person leaves the company.
2 Likes
Exercising the subscription right hasnât succeeded yet, at least not at Nordea.
The right was not visible at all in the online bank, and the subscription made through customer service failed with the message: âerror situationâ.
Could there be startup issues? Nordea is investigating the matter with technical support.
3 Likes
Registration through OP was successful without any problems.
2 Likes
How does that notation work there in OP?
That line BIORETEC OY/ Subs rts has appeared, and acquisition lots are visible there.
One can buy, but the prices are a bit peculiar.
Signed: First time doing this.
1 Like
Currently, subscribing through subscription rights is more expensive than buying the share directly. Itâs worth monitoring whether it would be smarter to sell the subscription rights and buy the share directly.
5 Likes
This probably wonât work in the mobile app. Log in via a web browser. Type âcorporate events of domestic listed companiesâ into the search field. Itâs probably enough to type only part of that to find it. The same can also be found indirectly through the menu. From there you can make the subscription.
With four (rights), you can subscribe for one new share at 1.5e, so if you have, for example, 20 shares and received 20 subscription rights, you can subscribe for 5 shares at 1.5e/share, i.e., 5 shares for 7.5e.
1 Like
Subscription is now possible with Nordea. They found the problem and fixed it.
In Nordeaâs online bank, you can subscribe as follows:
Savings and investments â on the bottom right, select â Corporate actions
2 Likes
Hi everyone!
The stock price is really beaten down and in a negative spiral, which I think has gone too far. Donseâs departure was confusing, and now the share issue, but that too has been known for a long time.
However, Q1 was really good, and the upcoming summer offers the last buying opportunities at these levels.
Soon the cash reserves will be full of money again, and that will last for a long time. Additionally, fortunately, we have a convincing main owner who wonât run out of money to support a company of this size.
I believe the situation is temporary, and when positive news comes out in the future, the stock price will quickly correct to its base levels and then higher. The market is currently not looking beyond the present but is stuck only looking at the current moment. The productâs potential and monopoly have been completely forgotten.
My own musings on the situation. Now, letâs keep calm and see how this year plays out.
19 Likes
It only works on OST (OsakesÀÀstötili - Share Savings Account) in mobile, it was a bit of an obscure system.
So, in mobile, OST->events-> and then you can see the corporate events (first time Iâve seen anything other than buy/sell/deposit).
From there, you just click whether you want to use all rights or just some. For a Share Savings Account, you can only acquire with the primary subscription rights available there, otherwise, itâs AOT (Arvo-osuustili - Book-entry Account) and via browser.
3 Likes
In the investor presentation, there were a couple of interesting images:
I found out that those Medicare âpass-through-paymentâ applications are approved quarterly and then come into effect at the beginning of the next quarter. Interestingly, a distributor is only now coming to California, whose economy is the worldâs fourth largest. Some sales could come from there as well.
16 Likes
Bioretecâs subscription rights trading has ended. The crowd was quite committed, as less than 2 million subscription rights changed hands, with the total number of shares being 24 million, meaning less than 10% of these. Of course, some of the trading was also speculation, so perhaps 6% of shareholders gave up their subscription rights. The slight selling pressure was reflected in the price of the subscription right in the last four days, rising 150% from its lows.
There is a 35% distance to Inderesâ target price at the closing price of the subscription right. The offering is fully guaranteed by the chairman of the board. Kustaa Poutiainen made a good profit from the sale of Picosun, and itâs great that such a significantly wealthy, technology-savvy, and principled investor has been secured as an anchor investor.
16 Likes
Good evening!
Drillpin⊠clinical trials are currently underway. Its purpose, as I understand it, is to go on sale this year? Apparently, both CE and FDA approval are being sought? When are the approvals expected?
This Drillpin product is quite significant. Sales potential is double compared to the trauma screw, roughly 2 billion compared to 1 billion for the trauma screw.
Spinal implant⊠animal trials are underway. Will the results be available by summer? This started in late 2024. Is a partner still needed for this? However, the offering will now bring in quite good money.
9 Likes
Itâs always worth remembering to look for arbitrage opportunities in these share issues. If you still own old shares, their price is 1.825 and the new sharesâ price is 1.74. By buying new and selling old, you can get the same shares and money in between. Youâll probably also get a tax benefit when you can realize losses for tax purposes.
3 Likes
The announced commercialization of Drillpin in 2025 is confusing. According to the interim report, "site selection and training have begun to start patient registration". How on earth could patients be operated on, followed up, analyses performed, and a final report completed by the end of the year, and all of this still needs to be approved by the authorities?
4 Likes
Indeed. Letâs hope this materializes. This would be a significant addition to sales and would accelerate revenue growth. Perhaps this Breakthrough Device thing in the USA will speed up the process. Nothing else but 
up that the matter progresses well.