Flexion recently announced an accelerated book-building procedure in a planned targeted rights issue of SEK 90 million to Swedish and international institutions. If the rights issue is completed successfully, Flexion’s largest channel/client will subscribe to additional shares for approximately SEK 30 million. Huawei recently became the company’s largest channel, which means it is obvious that the “corner” investor in the transition (if successful) is Huawei. Redeye is optimistic about Flexion’s prospects with a base case 35% above the closing price today, December 3.