Brief: Desert Control Contemplated Private Placement

Desert Control AS

28/09/2023 15:35

Sept 28 (Reuters) - Desert Control AS  DSRT.OL :
    * CONTEMPLATED PRIVATE PLACEMENT
    * PRIVATE PLACEMENT TO RAISE GROSS PROCEEDS IN RANGE OF NOK
60 -
80 MILLION
    * OFFER PRICE PER OFFER SHARE IS NOK 6.75
    * TO USE NET PROCEEDS TO SCALE UP COMMERCIALIZATION IN US,
STRENGTHEN SALES FOCUS, AMONG OTHERS
    * OFFER PRICE PER OFFER SHARE IS NOK 6.75
    * TOTAL NUMBER OF OFFER SHARES TO BE ISSUED IN PRIVATE
PLACEMENT
WILL BE DETERMINED BY COMPANY'S BOARD OF DIRECTORS
    * INDICATED INTEREST TO SUBSCRIBE FOR OFFER SHARES FOR MORE
THAN
NOK 30 MILLION AT OFFER PRICE
    * US BASED WOODS END INTERESTS LLC, AN INVESTMENT CO OWNED
BY
JAMES THOMAS AND HIS CLOSE ASSOCIATES, HAS PRE-COMMITTED TO
SUBSCRIBE FOR SHARES FOR UP TO NOK 30 MILLION
    * SUBJECT TO COMPLETION OF PRIVATE PLACEMENT, BOARD IS
EXPECTED TO
PROPOSE THAT GENERAL MEETING ELECTS JAMES THOMAS AS ADDITIONAL
MEMBER

Source text for Eikon:  ID:nWkr41jwhM 
Further company coverage:  DSRT.OL 

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