NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, IN
Following shut of the bookbuilding interval, the Company is happy to announce that the Private Placement has been efficiently positioned, and that its Board of Directors has allotted subscriptions for 3,428,571 supply shares (the “Offer Shares”) at a subscription value of
The web proceeds from the Private Placement will probably be used to cowl the Company’s liquidity wants, together with for pre-ordering of lengthy lead-time gadgets for manufacturing of Heatcube, continued market growth and the associated upscaling actions, constructing undertaking execution capability mixed with partnering setups and basic company functions.
Settlement of the New Shares is anticipated to happen on or about
Notification of conditional allocation, together with settlement directions, are anticipated to be distributed by the Managers on or about
The following individuals discharging managerial obligations (“PDMRs”) and shut associates to PDMRs have been allotted the next variety of
- Valinor AS, a detailed affiliate of the board member Pål Selboe Valseth, was allotted a complete of 488,600 shares
- Hydro Energi Invest AS, a detailed affiliate of the board member
Ivar Valstad, was allotted a complete of 285,714 shares
- Bjarke Buchbjerg, Chief Technology Officer of the Company, was allotted a complete of 1,428 shares
Henrik Holck-Clausen, Chief People& Culture Officer of the Company, was allotted a complete of 4,285 shares Tim de Haas, Chief Commercial Officer of the Company, was allotted a complete of 5,714 shares Agnieszka Sledz, Chief Project Officer of the Company, was allotted a complete of 17,142 shares
Completion of the Private Placement is conditional upon (i) essential company resolutions by the Company to consummate the Private Placement and allocate the New Shares, together with last approval by the Board of the
Subsequent providing and equal remedy issues
The Board will suggest to the EGM to hold out a subsequent providing of as much as 500,000 shares at a subscription value equal to the Offer Price elevating gross proceeds of as much as
The Board, collectively with the Company’s administration and the Managers, has thought-about varied transaction options to safe new financing. Based on an total evaluation, contemplating inter alia the necessity for funding, execution threat and attainable options, the Board has on the idea of cautious issues determined that the Private Placement is the various that greatest protects the Company’s and the shareholders’ joint pursuits. By structuring the transaction as a non-public placement with a subsequent providing, the Company was capable of increase capital in an environment friendly method with considerably decrease completion dangers in comparison with a rights difficulty. Thus, the waiver of the preferential rights inherent in a share capital improve by means of issuance of new shares is taken into account essential.
For extra info, please contact:
+47 48 10 65 69
Heat accounts for half of business vitality consumption. Traditionally, almost all of it’s based mostly on fossil fuels.
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This announcement is just not and doesn’t type part of any supply to promote, or a solicitation of a suggestion to buy, any securities of the Company. Copies of this announcement should not being made and might not be distributed or despatched into any jurisdiction by which such distribution can be illegal or would require registration or different measures.
The securities referred to on this announcement haven’t been and won’t be registered beneath the
In any EEA Member State, this communication is just addressed to and is just directed at certified traders in that Member State inside the which means of the Prospectus Regulation, i.e., solely to traders who can obtain the supply with out an authorized prospectus in such EEA Member State. The expression “Prospectus Regulation” means Regulation (EU) 2017/1129 as amended (along with any relevant implementing measures in any Member State.
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Matters mentioned on this announcement might represent ahead-trying statements. Forward-looking statements are statements that aren’t historic details and could also be recognized by phrases similar to “imagine”, “anticipate”, “anticipate”, “technique”, “intends”, “estimate”, “will”, “might”, “proceed”, “ought to” and related expressions. The ahead-trying statements on this launch are based mostly upon varied assumptions, a lot of that are based mostly, in flip, upon additional assumptions. Although the Company imagine that these assumptions have been affordable when made, these assumptions are inherently topic to important identified and unknown dangers, uncertainties, contingencies and different necessary elements that are tough or not possible to foretell, and are past their management. Such dangers, uncertainties, contingencies and different necessary elements may trigger precise occasions to vary materially from the expectations expressed or implied on this launch by such ahead-trying statements. The Company doesn’t make any assure that the assumptions underlying the ahead-trying statements on this announcement are free from errors nor does it settle for any duty for the long run accuracy of the opinions expressed on this announcement or any obligation to replace or revise the statements on this announcement to mirror subsequent occasions. You shouldn’t place undue reliance on the ahead-trying statements on this announcement.
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