Contemplated private placement
2011-01-12 17:33:13
Nio Security, Inc. ("Nio") is preparing a private
placement by issuance of new shares in an amount up
to NOK 22.5 million (the "Private Placement").
The Private Placement will be directed towards
professional Norwegian investors, and will commence
after close of Oslo Stock Exchange today, 12 January
2011.
The subscription price in the Private Placement
will be NOK 2.50 per share and the minimum size
per order has been set to 160 000 shares,
approximating an aggregate purchase price of at
least EUR 50,000.
The Private Placement will represent up to 9 000 000
new shares equalling approximately 23 % of the
current number of outstanding shares of the Company.
The proceeds from the Private Placement will be used
for general corporate purposes, including service of
shareholder loans.
The subscribers in the Private Placement will receive
existing shares in the Company that are already
listed on Oslo Stock Exchange, pursuant to a share
lending agreement entered into between ABG Sundal
Collier, Nio and the Company's largest shareholder.
The shares delivered to the subscribers will thus be
tradable according to the trade date on the contract
note issued for the allocated shares.
The book building period opens today at 17:30 CET (12
January 2011) and closes at the latest on 13 January
2011 at 08:30 CET. The manager may, however, at any
time resolve to close or extend the book
building period at its own discretion, but it will
in no event close earlier than 12 January 2011 at
19:00 CET.
Nio's two largest shareholders, Lars Moldestad and
Bellamare Resources Ltd, have guaranteed that the
Private Placement will amount to minimum NOK 10
million.
Nio has retained ABG Sundal Collier Norge ASA as sole
manager and bookrunner for the equity Private
Placement.