Karolinska Development, Rosetta Capital Ltd. financial update

A syndicate led by VC firm Rosetta Capital will pay SEK220 million ($33 million) to acquire a minority stake in KDev Investments AB, a new private holding company created to house 13 portfolio companies of Karolinska Development. Karolinska will transfer the companies to KDev, and Rosetta will acquire 7.33% of the holding company's common shares. Rosetta will also receive all the "preference" shares in the holding company. Karolinska said the preference shares entitle Rosetta to a tiered "priority on future returns" from the KDev portfolio companies, starting with 100% of future returns up to SEK220 million ($33 million) and with no portion of returns over SEK1.3 billion ($198.1 million). ...