ABGSC acted as Joint Global Coordinator and Joint Bookrunner in the NOK 345 million private placement in Arctic Bioscience AS and is acting as Euronext Growth advisor in the contemplated listing on Euronext Growth

On 19 February 2021, Arctic Bioscience announced the successful placement of 11,129,031 shares at a subscription price of NOK 31.00 per share, for a total transaction size of NOK 345 million. The offer price implies a post-money equity value of NOK 753 million.
The Private Placement attracted very strong interest from Norwegian, Nordic and international high-quality institutional investors and family offices and was multiple times oversubscribed. On this basis, the Private Placement was upsized from NOK 250 million at launch to NOK 300 million (not including a 15% over-allotment option). The net proceeds to the Company from the Private Placement will be used to (i) invest in the development of the Company’s novel treatment against mild-to-moderate psoriasis, (iI) invest in state-of-the-art production and process technology, (iii) further strengthen the balance sheet to optimally position the Company for maximizing shareholder value, (iv) selected preclinical trials to broaden the pipeline and (v) general corporate purposes.
Two named anchor investors subscribed for and were allocated shares for approximately NOK 57 million in the Private Placement: (i) Fjärde AP Fonden (AP4) for approximately NOK 37 million and (ii) Altitude Capital AS for approximately NOK 20 million. Furthermore, certain existing shareholders in the Company pre-committed for and were allocated shares for approximately NOK 95 million.
The Company has applied, and expects, subject to the conditions for completion of the Private Placement being fulfilled and necessary approvals from the Oslo Stock Exchange, to have its shares admitted to trading on Euronext Growth Oslo. The first day of trading on Euronext Growth Oslo is expected to be shortly after completion of the Private Placement and is currently anticipated to be on or about 24 February 2021.