ABG Sundal Collier acted as joint global coordinator for Hexagon Purus’ NOK 1,300 million capital raise, while also serving as the joint financial advisor for Mitsui’s strategic partnership and NOK 500 million investment in Hexagon Purus

On 1 March 2023, Hexagon Purus completed an accelerated bookbuilding transaction consisting of an equity private placement at NOK 27.00 per share and a convertible bond private placement, raising gross proceeds of NOK 500 million and NOK 800 million, respectively. The transaction was met with strong demand from Nordic and international institutional long-only investors for both the equity private placement and the convertible bond, indicating a high level of investor interest in Hexagon Purus and its prospects. The equity private placement also strengthened Hexagon Purus’ shareholder base and free float, while the convertible bond offered a diversified funding source for the Company.
Additionally, ABG Sundal Collier acted as joint financial adviser on Mitsui’s strategic investment of NOK 500 million in the convertible bond private placement. The investment highlights a deeper strategic alliance between Hexagon Purus and Mitsui, who is intent on participating as an anchor investor in future capital raises with a total monetary scope of up to NOK 2,000 million, including the NOK 500 million investment in the convertible bond. The partnership will capitalize on Mitsui’s significant in-depth knowledge and active role in the hydrogen space, including deep ties with important customers and suppliers for Hexagon Purus.
The net proceeds from the transactions will be used to support the Hexagon Purus’ growth trajectory, including its ongoing global capacity expansion program as well as facilitating the expected uplisting from Euronext Growth Oslo to the main list on the Oslo Stock Exchange.