Brief: Ocean 14 Capital, Aker Biomarine Provide AION With NOK 40 Mln Convertible Loan Facility

Aker Biomarine ASA

14/06/2022 12:42

June 14 (Reuters) - Aker Biomarine ASA  AKBM.OL :
    * OCEAN 14 CAPITAL INVESTS IN AION
    * OCEAN 14 CAPITAL AND AKER BIOMARINE WILL JOINTLY PROVIDE
FINANCING THROUGH A NOK 40 MILLION CONVERTIBLE LOAN FACILITY
    * FINANCING WILL BE USED FOR GROWTH AND WORKING CAPITAL IN
INITIAL
PHASE FOR AION
    * OCEAN 14 CAPITAL WILL TAKE OPERATIONAL CONTROL AND HAVE
BOTH A
MAJORITY OF VOTING RIGHTS AND BOARD REPRESENTATIVES IN COMPANY
TOWARDS NEXT FINANCING PHASE
    * AKER BIOMARINE AND OCEAN 14 CAPITAL JOINTLY COMMIT NOK 40
MILLION IN AN UNSECURED CONVERTIBLE LOAN FACILITY
    * CONVERSION SHALL TAKE PLACE UPON A SUBSEQUENT CAPITAL
RAISE FROM
EXTERNAL INVESTORS. AFTER CONVERSION, AKER BIOMARINE IS EXPECTED
TO OWN AROUND 85% OF SHARES IN AION
    * AS A RESULT OF TRANSACTION, AKER BIOMARINE WILL BOOK A
GAIN OF
AROUND USD 6 MILLION AS OTHER OPERATING INCOME IN Q2 2022
    * AION WILL BE DECONSOLIDATED FROM GROUP CONSOLIDATED
FINANCIAL
STATEMENTS OF AKER BIOMARINE FROM Q2 2022

Source text for Eikon:  ID:nObiTCLC1a 
Further company coverage:  AKBM.OL 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 7696600;;))