Brief: Seafire Buys Splendor Plant, Resolves On Rights Issue

Seafire AB (publ)

04/03/2026 07:09

March 4 (Reuters) - Seafire AB (publ) SEAF.ST:

ACQUIRES SPLENDOR PLANT AB AND RESOLVES ON A FULLY GUARANTEED RIGHTS ISSUE OF APPROXIMATELY SEK 140 MILLION

ENTERED INTO AN AGREEMENT TO ACQUIRE ALL SHARES IN SPLENDOR PLANT

IN 2025, SPLENDOR PLANT REPORTED REVENUE OF APPROXIMATELY SEK 199 MILLION

NEW BUSINESS AREA WITHIN GREEN INFRASTRUCTURE IS ALSO ESTABLISHED TOGETHER WITH BARA MINERALER AB

PURCHASE PRICE ON A CASH AND DEBT-FREE BASIS AMOUNTS TO SEK 135 MILLION

POSSIBLE EARN-OUT OF SEK 15 MILLION

SELLERS ARE BROTHERS NILS, SVEN AND BO ANDERSEN

ACQUISITION WILL BE FINANCED THROUGH, WITHOUT COMPENSATION TO UNDERWRITERS, FULLY GUARANTEED RIGHTS ISSUE OF ABOUT SEK 140 MILLION

RIGHTS ISSUE COMPRISES UP TO 25,707,939 NEW SHARES

RIGHTS ISSUE SUBSCRIPTION RATIO SET AT 3 NEW SHARES PER 5 EXISTING SHARES

RIGHTS ISSUE RECORD DATE EXPECTED 1 APRIL 2026, SUBSCRIPTION PERIOD 7-21 APRIL 2026

DEAL VALUED AT EV/EBITDA 5.3X AND EV/EBIT 7.0X BASED ON SPLENDOR PLANT'S 2025 RESULTS

Source text: ID:nMFNKcNRM

Further company coverage: SEAF.ST

 (Gdansk Newsroom)

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