Mandate

Vinge advises Surgical Science Sweden AB (publ) in connection with the acquisition of Mimic Technologies Inc and with a directed share issue

January 26, 2021

Vinge has advised Surgical Science Sweden AB (publ) (“Surgical Science”) in connection with its acquisition of all shares in Mimic Technologies Inc for an initial consideration of SEK 150 million with a maximum deferred contingent consideration of SEK 130 million.

In order to finance the acquisition, Surgical Science has carried out a directed share issue. The directed share issue comprised of 3,279,676 newly issued shares at a subscription price of SEK 98.30 per share, whereby Surgical Science will receive gross proceeds of approximately SEK 322 million before transaction related costs. The subscription price has been determined through an accelerated book‑building procedure and corresponds to a premium of approximately 1 per cent to the closing price of SEK 97.40 per share on 20 January 2021 on Nasdaq First North Growth Market.

Surgical Science is a world leader in the manufacture of virtual reality simulators for evidence-based laparoscopic and endoscopic training. The simulators enable surgeons and other medical specialists to train and improve their psychomotor skills and instrument handling before entering the operating room. In parallel with its own products, Surgical Science works with simulation solutions for medical technology companies that develop surgical instruments for clinical use, such as robotic surgery.

Vinge’s team has consisted of Fredrik Sonander (M&A) and Edin Agic (Capital Markets).

The Swedish rules on cabotage transport and posting will change on 2 and 21 February 2022

The Swedish government has decided on a number of new rules concerning cabotage transports, combined transports, transport customer responsibility for driving and rest times and posting of workers.
January 21, 2022

Vinge presents the Swedish chapter for the 2022 version of The Legal 500: Private Equity Country Comparative Guide

The guide provides an overview of the Swedish Private Equity market and the salient legislation in connection with PE transactions in Sweden.
January 11, 2022

The prohibition imposed by EU law on complying with secondary sanctions laid down by the United States against Iran may be relied on in civil proceedings

On Tuesday 21 December, the EU Court of Justice delivered its long-awaited judgment in the Bank Melli Iran case (Case C-124/20) on the interpretation of the EU Blocking Statute regarding compliance with third country sanctions. According to the Court, the prohibition imposed by EU law on complying with secondary sanctions laid down by the United States against Iran may be relied on in civil proceedings. Following the Court’s judgment, anyone seeking to terminate a contract with a person or business subject to US sanctions must thoroughly consider if the termination is motivated by other reasons than the existing sanctions and reflect on whether to apply to the Commission for a derogation from the Blocking Statute.
December 23, 2021