Norsk Titanium AS: Private placement successfully completed
2022-11-10 22:45:04
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Norsk Titanium AS: Private placement successfully completed
10 November 2022. Reference is made to the stock exchange announcement by Norsk
Titanium AS ("Norsk Titanium" or the "Company") on 10 November 2022 regarding a
contemplated private placement of new shares in the Company through an
accelerated book-building process (the "Private Placement").
Norsk Titanium is pleased to announce that the Private Placement has been
successfully completed, raising approximately NOK 75 million, equivalent to USD
7.4 million, in gross proceeds through the allocation of 27,777,780 new shares
(the "New Shares") at a subscription price of NOK 2.7 per share (the
"Subscription Price") which represents a 10% discount to the last closing price
on Euronext Growth Oslo.
The Company intends to use the net proceeds from the New Shares to