ABGSC acted as Joint Global Coordinator and Joint Bookrunner in the NOK 385 million private placement in Ørn Software AS and subsequent listing on Euronext Growth

On March 29, 2021, Ørn Software AS (“Ørn Software” or the “Company”) started trading on Euronext Growth following the successful placement of 36,666,674 shares at a price of NOK 10.50, raising a total of NOK 385 million (the “Private Placement”). The Private Placement raised gross proceeds to the Company of NOK 250 million and NOK 100 million in gross proceeds to the selling shareholders. In addition, 3.3m shares was overallotted, resulting in a total IPO transaction size of NOK 385 million. Based on the offer price, the post-money equity value was approximately NOK 900 million.
Four cornerstone investors were allocated a total of NOK 200 million in the transaction; i) Swedbank Robur (NOK 60 million), ii) BI Asset Management (NOK 60 million), iii) Aktia Asset Management (NOK 40 million), and iv) Tar Heel Capital (NOK 40 million).
The Company intends to use the net proceeds from the transaction to strengthen the Company’s inorganic growth capabilities and for general corporate purposes.