Havila Completes Private Offering

Havila Capella

Havila Kystruten has announced the successful completion of its NOK 500 million private placement, managed by Fearnley Securities AS and SpareBank 1 Markets AS.

Through the private placement, the company will issue 19,650,000 new shares at a price of NOK 25.50 per share, constituting approximately 40% of the total 49,650,000 shares outstanding after the private placement.

Five so-called cornerstone investors subscribed to and were allocated shares for NOK 232.50 million as follows: Paladin Asset Management: NOK 82.5 million or 3.23 million shares; Nordea Investment Management: NOK 50 million or 1.96 million shares; Farvatn Capital: NOK 50 million or 1.96 million shares; Verdipapirfondet Fondsfinans Norge: NOK 25 million or 0.98 million shares, and MP Pensjon PK: NOK 25 million or 0.98 million Offer Shares.

Havila said the net proceeds will be used to make preparations for the company’s commencement of operations as operator of four ships on the Norwegian coastal route, to finance working capital related to the delivery and operation of its four vessels under construction, and for general corporate purposes.

The company, currently the sole shareholder Havila Holding, and members of the board of directors and management have entered into customary arrangements with the investors that will restrict, subject to certain exceptions, their ability to, without the prior written consent of the managers, issue, sell or dispose of shares, as applicable, for a period of 12 months, after the commencement of trading in the shares on Euronext Growth Oslo.

The first day of trading on Euronext Growth is expected to be on or about 28 July 2021. Following the listing, the company will start preparations for an uplisting on Euronext Expand or Oslo Børs, with the goal of completing the uplisting within 6-12 months, subject to prevailing market conditions and satisfaction of applicable listing requirements.

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