Land-based aquaculture company Atlantic Sapphire has raised NOK595 million (€52.71 million) through a private placement of 119,000,000 new shares at a price of NOK5 (€0.44) per share.
The deal was up-sized by 10% as a result of strong investor demand and the funds will be used to boost production and profitability with any remainder allocated to expansion.
The following shareholders have received allocations in line with their pre-commitments:
- Nordlaks Holding was allocated 21,611,600 shares for a total subscription amount of NOK108,058,000 (€9.6 million)
- Strawberry Equities was allocated 14,047,540 shares for a total subscription amount of NOK70,237,700 (€6.2 million)
- Blue Future Holding, owned by EW Group, a provider of animal genetics, nutrition and health products, was allocated 10,000,000 shares for a total subscription amount of NOK50,000,000 (€4.4 million)
- Joh Johannson Eiendom was allocated 10,000,000 shares for a total subscription amount of NOK50,000,000 (€4.4 million)
Board members Andre Skarbø and Tone Bjørnov, chief operating officer Jon Birger Løvik, and chief digital innovation officer Svein Taklo have also been allocated shares.
The board also intends to offer a further 20,000,000 shares at the same price to existing shareholders as at 16 March 2023 who were not allocated shares in the private placement.
