ABG Sundal Collier acted as joint global coordinator, joint bookrunner and financial advisor to Hexagon Purus in its convertible bond private placement of approximately NOK 1,000 million

On 20 December 2023, Hexagon Purus ASA (“Hexagon Purus” or the “Company”) announced the launch and completion of a convertible bond private placement (the “CB”), raising gross proceeds of NOK 999.95 million, with pre-commitments of NOK 850 million from the strategic investors Mitsui & Co., Ltd (“Mitsui”), Hy24 through the Clean Hydrogen Equipment Fund (“Hy24”) and Hexagon Composites ASA (“Hexagon Composites”). The transaction attracted strong interest from current share- and convertible bond holders, and was multiple times oversubscribed
Mitsui invested NOK 500m in the CB, bringing Mitsui’s aggregate commitment to Hexagon Purus to NOK 1,000m. This is part of Mitsui’s existing strategic alliance and non-binding memorandum of understanding entered into in March 2023 with a total monetary scope of NOK 2,000m. Hy24, the world’s first investment manager fully dedicated to scaling up the clean hydrogen economy, invested NOK 150m in the CB. The Company’s largest shareholder, Hexagon Composites, invested NOK 200m in the CB, further showcasing Hexagon Composites’ long-term support to Hexagon Purus.
The net proceeds from the CB will be used to support Hexagon Purus’ growth strategy, including its ongoing global capacity expansion program and delivering on customer commitments on its path to reaching its financial ambitions for 2025.
ABGSC acted as joint global coordinator, joint bookrunner and financial advisor to the Company, and would like to extend its gratitude to the Company for the vote of confidence.