Brief: Norsk Titanium Proposes Partially Underwritten Rights Issue

Norsk Titanium AS

04/12/2023 06:36

Dec 4 (Reuters) - Norsk Titanium AS  NTI.OL :
    * NORSK TITANIUM AS: PROPOSED PARTIALLY UNDERWRITTEN RIGHTS
ISSUE
    * NET PROCEEDS WILL BE USED TO  FUND CURRENT OPERATIONS AND
CASH
REQUIREMENTS, AND  STRENGTHEN BALANCE SHEET
    * MAXIMUM GROSS PROCEEDS FROM RIGHTS ISSUE WILL BE NOK 225
MILLION
(EQUIVALENT TO APPROX. USD 21 MILLION)
    * MINIMUM GROSS PROCEEDS WILL BE NOK 182 MILLION (EQUIVALENT
TO
APPROX. USD 17 MILLION)
    * COMPANY MAY IN TOTAL RECEIVE PROCEEDS OF UP TO APPROX. NOK
370
MILLION (EQUIVALENT TO APPROX. USD 35 MILLION)
    * PROVIDED THAT RIGHTS ISSUE IS SUBSCRIBED IN FULL, WARRANTS
ARE
EXECUTED AT MAXIMUM SUBSCRIPTION PRICE 30% ABOVE RIGHTS ISSUE
SUBSCRIPTION PRICE, COMPANY MAY IN TOTAL RECEIVE PROCEEDS OF UP
TO APPROX. NOK 370 MILLION (EQUIVALENT TO APPROX. USD 35
MILLION)

Source text for Eikon:  ID:nObipnBSWa 
Further company coverage:  NTI.OL 

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