Beskrivning
| Land | USA |
|---|---|
| Lista | Oslo Bors |
| Sektor | Handel & varor |
| Industri | Dagligvaror |
2025-09-17 08:44:05
Miami, FL, 17 September 2025
Reference is made to the stock exchange notice by Atlantic Sapphire ASA
("Atlantic Sapphire" or the "Company", and together with its consolidated
subsidiaries, the "Group") on 15 September 2025 regarding the launch of a
private placement for a contemplated convertible loan of USD 35 million (the
"Convertible Loan" and the "Private Placement").
Following expiry of the application period for the Private Placement, the
Company's Board of Directors has now resolved to conditionally allocate
participations in the Convertible Loan for a total amount of approximately USD
35 million.
The Convertible Loan, together with certain amendments in the Group's credit
facility with DNB Bank ASA (the "Credit Facility"), is estimated to fund the
capex and operations of the Company until reaching EBITDA break-even of Phase 1,
with a contingency.
Key terms of the Convertible Loan
The key terms of the Convertible Loan will be as set out in the stock exchange
notice issued by the Company on 31 August 2025, and as further detailed in the
notice for the extraordinary general meeting (the "EGM") announced by the
Company on 9 September 2025. Please refer to such stock exchange notice and the
EGM notice for details on the key terms of the Convertible Loan.
As described in the Company's stock exchange notice issued on 15 September 2025,
the Company's Board of Directors have resolved that all investors that provided
indications of subscriptions prior to the release of said stock exchange notice
will receive the underwriting fee referred to the stock exchange notice issued
by the Company on 31 August 2025.
Completion of the Convertible Loan remains subject to approval by the EGM and
certain other usual and customary conditions precedents.
Participation of primary insiders in the Convertible Loan
The following close associates of primary insiders have been conditionally
allocated participations in the Convertible Loan as set out below:
o Strawberry Capital AS (close associate of Chairman Kenneth Andersen), for a
loan amount of USD 3,400,000