Swedish medical technology developer Miris Holding (STO: MIRIS) is executing a 20 miljoner SEK rights issue following a 40% third-quarter revenue collapse and the departure of CEO Camilla Myhre Sandberg after a decade at the helm, according to reports published by Medtech Magazine.
The Bottom Line
- Liquidity Pressure: Net sales for the first nine months of 2026 slipped to 11,6 Mkr against 14,5 Mkr year-on-year, with Q3 revenue stalling at 2,9 Mkr, yielding a result after financial items of -6,6 Mkr (-3,5 Mkr), as reported by Affärsvärlden.
- Ownership Consolidation: Major shareholder Hallberg Management, led by Anders Hallberg, is backing the entire 20,0 Mkr rights issue through subscription and guarantee commitments, a move that could elevate his equity stake significantly.
- Governance Overhaul: An extraordinary general meeting is scheduled for November 27, 2026, to approve both the capital injection and a reshuffled board of directors.
Camilla Myhre Sandberg steps down from her post after ten years managing the enterprise, which specializes in analyzing the nutritional content of human breast milk to support premature infant care. Marie Ekholm, who has been sales and marketing manager at Miris since 2018, assumed the interim chief executive role on October 27, 2026, while retaining her prior departmental responsibilities. The board has initiated a search for a permanent successor.
According to reporting by BioStock, the sharp top-line contraction stems from protracted sales cycles where hospital clients take longer to finalize investment decisions. With 550 analysis instruments currently installed globally, the deceleration in new placements directly impacted quarterly cash generation.
Capital Structure Realignment and Underwriting Terms
To stabilize operations, settle outstanding loans, and fund next-generation product development, the board structured a 20,0 Mkr rights issue. The subscription price is set at 7,50 SEK per share, representing a 32,8% discount against the theoretical ex-rights price (TERP) based on the ten-day volume-weighted average price prior to terms publication. The subscription window runs from December 3 to December 17, 2026.
| Financial Metric | Q1–Q3 2026 (Preliminary) | Q1–Q3 2025 |
|---|---|---|
| Net Revenue | 11,6 Mkr | 14,5 Mkr |
| Q3 Revenue | 2,9 Mkr | – |
| Result After Financial Items | -6,6 Mkr | -3,5 Mkr |
As detailed by Börsvärlden, the issuance is fully secured via a 29,4% pro-rata subscription commitment (5,9 Mkr) and a 14,1 Mkr guarantee commitment provided without fee by Anders Hallberg via Hallberg Management. The Swedish Securities Council granted a mandatory bid exemption for the transactions.
Shareholder Meeting and Final Q3 Report Schedule
The upcoming extraordinary general meeting on November 27, 2026, will address the capital restructuring alongside proposed changes to the board of directors. Hallberg Management has nominated Annelie Aava Vikner, Magnus Emmoth, and Johan Stein as new board members, while proposing the re-election of Anders Hallberg and Erik Magnusson. Incumbent directors Christian Wentzel and Håkan Gill will exit the board, and total representation will expand by one seat.
The final third-quarter financial report will be released on November 27, 2026, aligning with the shareholder vote on the funding package.
