Brief: Reach Subsea Contemplated Private Placement

Reach Subsea ASA

15/02/2023 15:42

Feb 15 (Reuters) - Reach Subsea ASA  REACH.OL :
    * CONTEMPLATED PRIVATE PLACEMENT
    * REACH SUBSEA HAS ENGAGED ARCTIC SECURITIES, FEARNLEY
SECURITIES,
SPAREBANK 1 MARKETS AS JOINT LEAD MANAGERS, JOINT BOOKRUNNERS TO
ASSIST COMPANY IN CONTEMPLATED PRIVATE PLACEMENT OF NEW SHARES
IN COMPANY TO RAISE GROSS PROCEEDS OF BETWEEN ABOUT NOK 100 TO
125 MILLION
    * NET PROCEEDS FROM PRIVATE PLACEMENT WILL BE USED TO
FINANCE
EQUITY PORTION OF CO'S PLANNED ACQUISITION OF SUBSEA IMR VESSEL
"EDDA SUN", FOR INVESTMENTS IN NECESSARY EQUIPMENT, MOBILIZATION
OF THREE NEW VESSELS (WHICH IN ADDITION TO "EDDA SUN" INCLUDES
"GO ELECTRA" AND "OLYMPIC TRITON), FOR WORKING CAPITAL AND FOR
GENERAL CORPORATE PURPOSES

Source text for Eikon:  ID:nObiwrCl5a 
Further company coverage:  REACH.OL 
 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com;))