Statt Torsk ASA has raised approximately NOK 41.3 million (USD 4.2 million, EUR 4 million) in gross proceeds through a private placement.
In a filing with Euronext Growth exchange, based in Oslo, Norway, the cod-farming company with operations in the Stad municipality confirmed the placement of 20,650,480 shares at NOK 2.00 (USD 0.20, EUR 0.19) per share. It said the net proceeds from the private placement will be used to finance build-up of biomass to facilitate the year-round delivery of farmed cod from the second half of this year, and for general corporate purposes.
Following the issue of the new shares, the company will have a share capital of NOK 18,676,318.70 divided into 186,763,187 shares, each with a nominal value of NOK 0.10 (USD 0.02, EUR 0.01).
Statt Torsk’s harvest volumes in the second half of this year are expected to be around 1,500 metric tons (MT), and 4,000 MT in the full-year 2023. The Stad, Norway-headquartered company has begun commercial production through two sites in Vanylvsfjorden.
Photo courtesy of Statt Torsk
