ABG Sundal Collier acted as financial advisor in connection with the NOK 100m private placement in SeaBird Exploration

Deal announcement

On Friday 15th September, SeaBird Exploration launched a private placement of NOK 95m – NOK 100m at a share price of NOK 0.1 per share. The Company had already received irrevocable pre-subscriptions for NOK 95 million prior to launch. The transaction was well oversubscribed and the company raised NOK 100 million in gross proceeds. The Company completed a debt to equity conversion in June 2017 and the private placement, which is subject to EGM approval, is the final element in the restructuring of Seabird Exploration.