ABGSC acted as joint global coordinator, joint bookrunner and merkur market advisor in the NOK 864 million private placement in Airthings ASA and subsequent listing on Merkur Market

Airthings ASA (“Airthings” or the “Company”) announced on Friday 23 October 2020 the successful placement of 64,000,000 shares at a price of NOK 13.50 per share for a total transaction size of approx. NOK 864 million (the “Private Placement”). The Private Placement raised gross proceeds to the Company of approx. NOK 500 million and NOK 364 million in proceeds to certain existing selling shareholders. Based on the offer price, the post-money equity value of the Company is approx. NOK 2.3 billion.
The Private Placement, which attracted strong interest from Norwegian, Nordic and international high-quality institutional investors, was significantly oversubscribed and included cornerstone investments from DNB Asset Management, Eika Kapitalforvaltning, Handelsbanken Fonder and CentraGruppen, as well from the existing shareholders Storebrand Asset Management and KLP Kapitalforvaltning.
The Company intends to use the net proceeds from the Private Placement to invest in global growth initiatives, building scale and strengthening its solutions, as well as general corporate purposes.
Airthings 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 “Listing”). The first day of trading on Merkur Market is expected to be on or about 30 October 2020, under the ticker symbol “AIRX-ME”.