Arctic Securities acted as Sole Global Coordinator in relation to the fully underwritten rights issue of 3,385,300 new shares in Borgestad ASA.
Through the rights issue, the company will receive gross proceeds of approx. NOK 34 million, which will be used to strengthen the working capital of the Company and for general corporate purposes. The rights issue was oversubscribed by 106% and 95% of the offer shares were subscribed for and allocated through the exercise of subscription rights.
We thank Borgestad for the vote of confidence and congratulate on the transaction.