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>>MNOK600 placement by Atlantic Sapphire

[release] Atlantic Sapphire AS announce that the Private Placement has been successfully subscribed, raising gross proceeds of approximately NOK 600 million.

The Private Placement received strong interest from large institutional investors and was multiple times subscribed, raising gross proceeds of approximately NOK 600 million by issuing 16,216,216 shares at a subscription price of NOK 37 per Offer Share. 
The net proceeds from the Private Placement will be used to continue development and finalize construction of the Atlantic Sapphire group's Denmark production facility expansion (phase 2) and the Group's Miami production facility site (phase 1), as well as for general corporate purposes.
The Company has initiated a process to quote the Company's shares on Merkur Market, a multi-lateral trading facility operated by Oslo Børs. First day of trading on Merkur Market is expected to be on or about 14 May 2018.
The Private Placement is conditional upon 1) approval of the share capital increase pertaining to the Private Placement and issuance of the Offer Shares by the Company's general meeting and 2) subsequent required filings required to implement the Private Placement and issue the Offer Shares. The general meeting is expected to be held on 2 May 2018. Notification of conditional allocation will be sent to the applicants on or about 25 April 2018.
Following registration of the share capital increase pertaining to the Private Placement, the Company will have a share capital of NOK 6,250,271.60, divided into 62,502,716 shares, each with a nominal value of NOK 0.10.
Allocation to primary insiders:

  • -Alsco AS, owned by Johan Andreassen, CEO and Chairman of Atlantic Sapphire, and Bjørn-Vegard Løvik, Director, has been allocated 540,541 shares in the Private Placement. After completion of the Private Placement, Alsco AS will own 9,459,671 shares in the Company. 
  • -Vatne Equity AS, represented at the board by Henrik Krefting, has been allocated 1,081,081 shares in the Private Placement. After completion of the Private Placement, Vatne Equity AS and associated companies will own 2,711,111 shares in the Company. 
  • -AsInvest AS, owned by board member Andre Skarbø, has been allocated 148,648 shares in the Private Placement. After completion of the Private Placement, Andre Skarbø and associated companies will own 609,358 shares in the Company. 
  • -Board member Kjell Bjordal and associated companies have been allocated 54,054 shares in the Private Placement. After completion of the Private Placement, Kjell Bjordal and associated companies will own 744,284 shares in the Company. 
  • -Board member Bjørn Myrseth and associated companies have been allocated 62,162 shares in the Private Placement. After completion of the Private Placement, Bjørn Myrseth and associated companies will own 394,162 shares in the Company.
  • -Thue Holm, CTO, and associated companies have been allocated 59,459 shares in the Private Placement. After completion of the Private Placement, Thue Holm and associated companies will own 669,699 shares in the Company. 

Arctic Securities AS, DNB Markets, a part of DNB Bank ASA and Pareto Securities AS acted as Joint Bookrunners in the Private Placement. Advokatfirmaet CLP DA is advising the Company and Advokatfirmaet Thommessen AS is advising the Managers in relation to the Private Placement.

  • For further information

Johan E. Andreassen Chairman, Atlantic Sapphire AS E-mail: johan@atlanticsapphire.com  Cell Phone: +1 (786) 340-3455

  • About Atlantic Sapphire AS

Atlantic Sapphire is Pioneering Bluehouse (land-raised) Salmon Farming, Locally Transforming Protein Production, Globally Atlantic Sapphire has been operating its Innovation Center in Langsand, Denmark since 2011 with a strong focus on R&D and innovation to equip the company with technology and procedures that enables the company to commercially scale up the production in end markets close to the consumer.
The company has spent years to identify and permit the ideal location for Bluehouse farming in the US market. In Miami, FL the company is well underway with construction of its phase 1 build out which will enable to company to produce 10,000 tons of salmon annually. The company has secured permits to produce an incremental 80,000 tons on site.

External link: http://atlanticsapphire.com/

The presentation: http://otc.nfmf.no/public/news/17522.pdf