ABGSC acted as Joint Lead Manager and Joint Bookrunner in the NOK 850 million private placement in Mercell Holding AS

Mercell Holding AS (“Mercell” or the Company) announced on Friday 26 June 2020 the successful placement of 126 million shares at a price of NOK 6.75 per share, corresponding to a pre-money equity value of approximately NOK 1.5 billion. The Private Placement raised gross proceeds to the Company of NOK 450 million and NOK 400 million to certain existing shareholders through the sale of 59.3 million existing shares.
The Private Placement attracted very strong interest from Norwegian, Nordic and international high-quality institutional investors and was more than 10 times oversubscribed excluding shares pre-allocated to cornerstone investors. Four cornerstone investors subscribed for and were allocated shares for NOK 500 million: (i) Luxor Capital Group: NOK 200 million; (ii) DNB Asset Management: NOK 140 million; (iii) Swedbank Robur Fonder: NOK 100 million; and (iv) TIN Fonder: NOK 60 million.
The net proceeds from the Primary Offering will predominantly be used to fund the Company’s many organic and inorganic growth opportunities as well as for product and technology development and general corporate purposes.
Mercell has applied for, and will, subject to the necessary approvals from the Oslo Stock Exchange, list the shares of the Company on Merkur Market. The first day of trading on Merkur Market is expected to be on or about 9 July 2020.