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New listing of ADVANCED MEDICAL EQUIPMENT S.A. on NewConnect

2024-09-23 16:33:16

The company ADVANCED MEDICAL EQUIPMENT S.A. was newly listed on NewConnect on 23 September 2024.

ADVANCED MEDICAL EQUIPMENT S.A. is the 360^th company listed on NewConnect and the ninth new listing on NewConnect in 2024.

Key information

company name	ADVANCED MEDICAL EQUIPMENT S.A.
ticker/short name	“AME”/”AMESA”
website	https://diabetomat.pl/
seat	Warszawa
core business	Advanced Medical Equipment S.A. operates in the in vitro diagnostic medical devices industry. It was established in late 2022 to manufacture and market (commercialise) a blood sugar measurement device called Diabetomat.
new listings on NC in 2024	9
companies listed on NC	360
business sector	Medical Equipment and Supplies
companies in the sector	8
offering/sale *	Public offering: 43,000 series C shares; Public offering: 10,255 series D shares;
offering/sale value*	Value of the offering of series C shares: PLN 1,505,000; Value of the offering of series D shares: PLN 399,945; Total value of the offerings: PLN 1,904,945
issue/selling price*	Price of series C shares: PLN 35; Price of series D shares: PLN 39;
company valuation**	PLN 39,463,714.13
value of introduced instruments**	PLN 39,463,714.13
% free float (below 5% in shares subject to the application)	22.14%
free float value**	PLN 8,739,639
% free float (below 5% in all shares)	22.14%
free float value**	PLN 8,739,639
number of shareholders (shares subject to the application)	34 (31 unrelated to the Issuer)
Authorised Advisor	Invest Concept sp. z o.o.
Related to other companies listed on NC/MM	none

* based on the reference price of series A-D shares proposed by the Authorised Advisor and the Market Maker, equal to PLN 35.77

Issuer’s history and business

Advanced Medical Equipment S.A. operates in the in vitro diagnostic medical devices industry. It was established in late 2022 as a limited liability company to manufacture and market (commercialise) a blood sugar measurement device called Diabetomat.

The Diabetomat is the result of several years of work and research, carried out prior to the incorporation of the Company, by the two shareholders of Advanced Diagnostic Equipment Sp. z o.o., which is the largest shareholder of the Company and the licensor of the patents related to the Diabetomat.

Advanced Medical Equipment Sp. z o.o. was incorporated in December 2022 and registered on 4 January 2023. The two founders – Advanced Diagnostic Equipment Sp. z o.o. and New Tech Capital S.A. – each took a 50% stake in the share capital totalling PLN 5,000.00.

Until April 2023, the Company was carrying out organisational work, with the Management Board preparing a roadmap and identifying the needs for its various stages, planning the work for 2023 to 2026, collecting bids and recruiting key personnel, and seeking new shareholders. On 19 April 2023, the Company decided to issue shares; the new shareholders took up 10% of the shares in the share capital, which was increased to PLN 15,000, for a total of PLN 1.5 million.

The founders remained shareholders at 45% each, taking up further shares at par. The funds raised allowed the Issuer to move on to the next stage of the project: concluding contracts, starting work on registering Diabetomat as a medical product by recruited personnel.

In February 2024, the Issuer filed two patents related to the key components of the Diabetomat, holding full rights to the claimed inventions.

All ongoing work is aimed at starting sales of the medical product, the Diabetomat, in the second quarter of 2026. The submission of the IVD certification application, planned for the beginning of 2026, will be the high point of ongoing preparations for certification which take a long time due to their complexity and the need to conduct clinical trials of device batch 0 (zero), identical to the device to be offered later. The Diabetomat will be registered as a device of the Company, i.e. the Company will be the owner of the certificate. The Company intends to conduct direct sales of the device and establish cooperation with Polish and European distributors of medical devices (e.g. pharmacies). The target sales market for the device is the entire European Union and, in the next step of the Company’s development, the US market.

Selected financials of the Issuer (PLN):

	Q1-2 2024 unaudited	31.12.2023	31.12.2022
Net revenue	750.00	900.00	0.00
Net profit	1,442.28	18,319.84	0.00
Equity	3,443,197.12	1,531,819.84	0.00
Liabilities and provisions	56,660.95	56,378.65	0.00
Total assets	3,499,858.07	1,588,196.49	0.00
Total net cash flows	1,304,112.53	980,976.19	N/A
Cash flows – closing balance	2,285,088.72	980,976.19	N/A

43,000 series C shares – public offering

The public offering of series C shares closed on 26 March 2024.

Series C shares were taken up by 12 investors.

The issue price of the shares was PLN 35.00.

The offering value was PLN 1,505,000.

10,255 series D shares – public offering

The public offering of series D shares closed on 4 April 2024.

Series D shares were taken up by 1 natural person unrelated to the Issuer.

The issue price of the shares was PLN 39.00.

The offering value was PLN 399,945.

Issuer’s shareholders:

Shareholder	# shares	% shares	# votes	% votes
Advanced Diagnostic Equipment sp. z o.o.	455,000 A	41.24%	455,000	41.24%
New Tech Capital S.A.	399,000 A	36.17%	399,000	36.17%
Bartłomiej Kurkus	4,928 B, C	0.45%	4,928	0.45%
Other	244,327 B, C, D	22.14%	244,327	22.14%