Microsaic Systems Share Discussion Threads

[moneymunch] 07/6/2018 07:59

Still here but mostly in Bloc in anticipation and consideration of which major news was going to drop first, i didn't want to miss out on Bloc's potential imminent news. Gl ;-)

[k1ngkonggb] 06/6/2018 18:18

MoneyM,

You still active in Msys or diverted some of your holdings to Bloc???

[sweepie2] 06/6/2018 11:59

Yes, I'm usually quite cynical about placings as they usually involve bucket shops or does that say more about the companies I invest in?
If right it's a compliment to MSYS that bucket shops don't get a look in.
Thanks for the reply

[timbo003] 06/6/2018 11:48

>>Sweepie

I would expect most of the shares will have gone to EIS funds and VCTs (assuming the shares are still EIS/VCT qualifying), Primary bid only took 5m shares, so there won't be much flipping there. It is Singers who are likely to hold back the share price, they took on 15m shares as part of the underwriting agreement.

[sweepie2] 06/6/2018 11:36

Yes I would have but fully invested at the moment, problem is who got the main placing ? If bucket shops they will drip feed their shares into the market one they get their 10%. I expect to see an opportunity to buy under placing price a few times before their increases of revenue come in

[splatted] 06/6/2018 08:59

Whoo hooo fantastic opportuntity to buy cheaper than the big boys. Big topup day for me today

[funkmasterp12] 06/6/2018 08:48

Oof, oh dear.

[stephen2010] 06/6/2018 08:23

Splatted and moneymuncher rather red faced this am. I did warn you this would go sib 2p OUCH!!!

[moneymunch] 06/6/2018 07:04

Microsaic Systems
Successful Fundraising of £5.5 million
RNS Number : 4194Q
Microsaic Systems plc
06 June 2018


NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, OR TO ANY PERSON LOCATED OR RESIDENT IN, ANY JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT.

6 June 2018

MICROSAIC SYSTEMS PLC
("Microsaic" or the "Company")

Successful Fundraising of £5.5 million

Microsaic Systems plc (AIM: MSYS) the developer of point of need mass spectrometry ("MS") instruments, yesterday announced a Placing and the launch of the PrimaryBid Offer. The Company is pleased to announce that it has conditionally raised gross proceeds totalling, in aggregate, £5.5 million through the successful Placing and PrimaryBid Offer of 275,000,000 New Ordinary Shares at an Offer Price of 2 pence per New Ordinary Share (the "Fundraising").

The PrimaryBid Offer has conditionally raised £101,840, which will result in the issue of 5,092,000 New Ordinary Shares. N+1 Singer has subscribed for 14,908,000 New Ordinary Shares pursuant to its underwriting obligation to the Company.



The Fundraising is conditional on, inter alia, the passing of the Special Resolution to be proposed at the General Meeting expected to be held at the offices of N+1 Singer, One Bartholomew Lane, London, EC2N 2AX at 10.00 a.m. on 22 June 2018 (the "General Meeting"). A circular which will provide further details of the Fundraising and will include a notice convening the General Meeting (the "Circular"), is expected to be sent to shareholders and to be available on the Company's website today.

Application will be made to the London Stock Exchange for the admission of the New Ordinary Shares to trading on AIM. It is expected that Admission will occur and that dealings will commence at 8.00 am on 25 June 2018.

Glenn Tracey, CEO of Microsaic commented: "We are delighted to have completed this fundraise with a good mix of high calibre institutional and private investors. The new funds will not only strengthen the Company's balance sheet and provide new opportunities, but also enable the Company to complete ongoing projects with our existing partner in bioprocessing. The fundraising will allow us to continue to further enhance our miniaturised mass spectrometer instruments to ensure our continued competitiveness, as well as put Microsaic in a stronger position to negotiate commercial partnerships."

Directors' interests

Further to the Company's announcement of 5 June 2018, each of the Directors has participated in the Placing. The Directors have conditionally agreed to subscribe for an aggregate of 3,500,000 Placing Shares, representing approximately 1.4 per cent. of the Placing Shares. Immediately following Admission, the Directors will together hold an aggregate of 11,478,743 Ordinary Shares, representing 2.5 per cent. of the Enlarged Issued Share Capital, as set out in the table below:

Director


Number of Existing Ordinary Shares held as at 5 June 2018


Percentage of Existing Ordinary Shares held as at 5 June 2018


Number of Placing Shares intended to subscribe for


Expected number of Existing Ordinary Shares held on Admission


Expected holding as a percentage of the Enlarged Issued Share Capital

Peter Grant


-


-


750,000


750,000


0.16%

Glenn Tracey


300,000


0.17%


500,000


800,000


0.18%

Bevan Metcalf


300,000


0.17%


750,000


1,050,000


0.23%

Chris Buckley


300,000


0.17%


250,000


550,000


0.12%

Andrew Holmes


3,182,111


1.75%


500,000


3,682,111


0.81%

Eric Yeatman


3,896,632


2.15%


750,000


4,646,632


1.02%



The participation by the Directors in the Placing constitutes a related party transaction for the purposes of the AIM Rules. As there are no independent directors (for the purposes of the Fundraising) to provide a fair and reasonable statement because all of the Directors are participating in the Placing, N+1 Singer (in its capacity as nominated adviser for the purposes of the AIM Rules) considers that the participation by the Directors in the Placing is fair and reasonable insofar as the Shareholders are concerned.

Expected Timetable of Principal Events

Posting of the Circular and Form of Proxy


6 June 2018

General Meeting


10.00 a.m. on 22 June 2018

Admission and commencement of dealings in the New Ordinary Shares on AIM


8.00 a.m. on 25 June 2018

Unless otherwise defined, capitalised terms shall have the meaning as those set out in the Company's announcements of 5 June 201

[timbo003] 06/6/2018 06:45

I have gone for a few in the Primary bid offer.

It sounds to me as if they have already raised as much as they need and the PB portion (£400k?) may be underwritten anyway.

I see that previous fund raises qualified for EIS/VCT tax reliefs, whilst the paperwork on this one does not mention that this round will qualify, I suspect there is a reasonable chance that it will, so I'll try to find out about that.

[euclid5] 05/6/2018 22:15

"Current trading



In 2012, the Company started a collaboration with one of the foremost players in the global market for scientific instrumentation. Contractual development started in 2016, and Phase one (technical feasibility) was successfully completed in late 2017. Phase two (integration) was initiated in December 2017 and the Directors believe this phase will be completed in late Q4 2018. The partner provides co-development income and dedicated project resource. Subject to commercial terms being agreed, a final "commercialisation" phase ("Phase three") would follow, which the Directors estimate would last approximately 18 months, with a target completion in H1 2020.



The current collaboration is focussed on one area of the bioprocessing workflow; however, the Directors believe that there are multiple points of entry for the Company's MS to be used in a typical bioprocessing workflow, representing considerable potential upside to the Company's target revenue.



The key drivers in the pharmaceutical and biopharmaceutical markets include:



· growth in prescription drugs - the Company's key end market is pharmaceutical analysis;

· increasing drug complexity - techniques like MS are needed for complex biologic analysis suiting the opportunity in bioprocessing; and

· increasing regulation - MS can accelerate compliance.



The Company is also working with two established institutions to generate data to support a wider use of the Company's MS in bioprocessing. The Directors intend to use this data to support discussions with other potential partners in this area.



The Company is making good progress in its traditional small molecule markets. It has an existing relationship with Gilson Inc. and has so far, in 2018, signed OEM agreements with Unimicro Technologies (founded in the United States, but for sales in China) and Knauer Wissenchaftliche Gerate (based in Germany, but for distribution worldwide). It has also, in 2018, signed distribution agreements with Rightek, for distribution in Taiwan, and Stable Arm Sdn. Bhd. for distribution in Malaysia. The Company has a number of discussions underway with further OEMs and distributors in North America, Europe and Asia Pacific and many of these represent potential new application or geographic areas for the Company.



Targets



Having assessed potential prospects in the bioprocessing and traditional small molecule markets, the

Directors have set internal targets for 2022 of sales of approximately 390 to 450 MS instruments and

revenues of between £17 million to £19 million. The Directors have estimated that approximately 70 per cent. would come from the bioprocessing market in 2022 and the balance would come from the

Company's traditional small molecule market. The targeted revenues include recurring revenue in the form of consumables and service fee income.



The above numbers are the Company's internal targets only and are not forecasts.

Longer term, potential sales opportunities



The Directors believe that the Company has a number of longer-term potential sales opportunities. These include the following:

· the use of the Company's compact point of need MS technology across multiple entry points in the bioprocessing workflow;

· potential use in other biologic-related markets requiring on-line process monitoring, such as cell therapies;

· potential use of compact MS as a method for point of care diagnostics; and

· potential collaboration on the next generation of compact MS leveraging the Company's proof of concept "triple quad" technology.



The Board intends to seek partnerships to fund the development of these sales opportunities in the future when it is appropriate to do so.

[s34icknote] 05/6/2018 16:47

Fund raise rns after hours Thoughts anyone ?Sicknote

[splatted] 01/6/2018 16:01

Yep exciting times ahead here

[moneymunch] 01/6/2018 14:24

Only 2 days to go to the most prestigious Mass Spectrometry conference/exhibition and all the key players will be in attendance , which must include Microsaic's global biopharma partner, "one of the foremost players in the global market for scientific instrumentation"...early news on the deal or any other commercial collaborations in the pipeline could surprise the market at anytime ..Tick Tock....Gla Holders ;-)


Microsaic
�; @Microsaic
Apr 15

We will be exhibiting at ASMS in June, San Diego. Come and meet us: booth #1005

American Society for Mass Spectrometry

66th Conference on Mass Spectrometry and Allied Topics
June 3 - 7, 2018 | San Diego, CA

The American Society for Mass Spectrometry (ASMS) was formed in 1969 to promote and disseminate knowledge of mass spectrometry and allied topics. ASMS is a non-profit 501 c 3 corporation. Membership includes over 8,500 scientists involved in research and development. Members come from academic, industrial and governmental laboratories. Their interests include advancement of techniques and instrumentation in mass spectrometry, as well as fundamental research in chemistry, geology, forensics, biological sciences and physics.

[moneymunch] 01/6/2018 14:24

Only 2 days to go to the most prestigious Mass Spectrometry conference/exhibition and all the key players will be in attendance , which must include Microsaic's global biopharma partner, "one of the foremost players in the global market for scientific instrumentation"...early news on the deal or any other commercial collaborations in the pipeline could surprise the market at anytime ..Tick Tock....Gla Holders ;-)


Microsaic
�; @Microsaic
Apr 15

We will be exhibiting at ASMS in June, San Diego. Come and meet us: booth #1005

American Society for Mass Spectrometry

66th Conference on Mass Spectrometry and Allied Topics
June 3 - 7, 2018 | San Diego, CA

The American Society for Mass Spectrometry (ASMS) was formed in 1969 to promote and disseminate knowledge of mass spectrometry and allied topics. ASMS is a non-profit 501 c 3 corporation. Membership includes over 8,500 scientists involved in research and development. Members come from academic, industrial and governmental laboratories. Their interests include advancement of techniques and instrumentation in mass spectrometry, as well as fundamental research in chemistry, geology, forensics, biological sciences and physics.

[moneymunch] 01/6/2018 14:24

Only 2 days to go to the most prestigious Mass Spectrometry conference/exhibition and all the key players will be in attendance , which must include Microsaic's global biopharma partner, "one of the foremost players in the global market for scientific instrumentation"...early news on the deal or any other commercial collaborations in the pipeline could surprise the market at anytime ..Tick Tock....Gla Holders ;-)


Microsaic
�; @Microsaic
Apr 15

We will be exhibiting at ASMS in June, San Diego. Come and meet us: booth #1005

American Society for Mass Spectrometry

66th Conference on Mass Spectrometry and Allied Topics
June 3 - 7, 2018 | San Diego, CA

The American Society for Mass Spectrometry (ASMS) was formed in 1969 to promote and disseminate knowledge of mass spectrometry and allied topics. ASMS is a non-profit 501 c 3 corporation. Membership includes over 8,500 scientists involved in research and development. Members come from academic, industrial and governmental laboratories. Their interests include advancement of techniques and instrumentation in mass spectrometry, as well as fundamental research in chemistry, geology, forensics, biological sciences and physics.

[cudmore] 01/6/2018 14:24

DFX is about to blow! Asking for 29p! That’s almost 30% up on the price now.

[moneymunch] 01/6/2018 14:19

Microsaic

@Microsaic

·

1h

Can you really get 3200m/z in such a truly compact Mass Detector? Yes you can!

Protein ID | Microsaic Systems

microsaic.com

Microsaic Retweeted

Spectroscopy Europe

@Spectroscopy

·

23h

New product: 4500 MiD chip-based mass spectrometer (link: hxxps://www.spectroscopyeurope.com/product/4500-mid-chip-based-mass-spectrometer) spectroscopyeurope.com/product/4500-m230; #chip #MS #massspec @Microsaic

4500 MiD chip-based mass spectrometer

spectroscopyeurope.com

[splatted] 30/5/2018 00:13

Thats what makes the dips such a gift atb

[parsons4] 29/5/2018 22:12

splatted I agree this is now a potential multi-bagger !!!

[splatted] 29/5/2018 19:07

As long as they keep doing what they are doing the share price will take care of itself. America next

[k1ngkonggb] 29/5/2018 18:15

Robste,

I agree that it's very frustrating with the current shenanigans of the share price however it doesn't help matters that there is a big seller out there, biding their time to sell into any rise.

Once the seller has cleared and more concrete news about the big pharma technical integration phase of a bio processing application then you will start to see this fly. Personally, if revenue (and in the first six months they have already exceeded what they achieved for the whole of 2017) starts ramping up through their disti deals then I can see an share price well in excess of 10p.

[robste] 29/5/2018 17:58

Hi folks. First time poster here. I only have a modest investment in this share compared to some of you (25,000 shares @ 2.16p) but I've long since given up on trying to find some logic behind the share price. It seems to me that the share price no longer reflects the activities or potential of the company, but rather it reflects the way in which the shares are being traded. MSYS has become an ideal stock for short term investors, and the sheer volume of people hitting the sell button almost the very moment the share price turns blue, inevitably sees it tumble back down to a base price within 24 hrs of the company publishing positive news. The rush to sell is creating a virtual ceiling from which this share price cannot currently escape and its difficult to see how this might change in the short term.

I notice that some companies are looking at share consolidation as a means of trying to break this cycle and reduce volatility. Oxford Biomedica I suppose being the most recent example. A different company in different circumtances I know, but they are doing a 50 to 1 consolidation, turning a 15p share price into a 750p share price. Does anyone think that consolidation might be an option here in the future?