Oslo, Norway ,6 May 2024 : Reference is made to the stock exchange announcement byNorsk Titanium AS (the "Company") on29 April 2024 regarding the completion of a private placement of a total of 110,000,000 new shares (the "Offer Shares ") raising gross proceeds ofNOK 275 million , equivalent to approx.USD 25 million (the "Private Placement"). The share capital increase relating to tranche 1 of the Private Placement ("Tranche 1"), consisting of 53,703,630Offer Shares out of the total of 110,000,000Offer Shares in the Private Placement, is now registered with theNorwegian Register ofBusiness Enterprises . The Company's new registered share capital isNOK 45,625,490.56 divided into 570,318,632 shares. Each share has a nominal value ofNOK 0.08 and represents one vote in the Company's general meeting. The second tranche consists of 56,296,370Offer Shares ("Tranche 2"). The settlement ofOffer Shares in Tranche 2 is expected to take place on or about16 May 2024 , subject to a resolution by the general meeting, scheduled to be held on or about14 May 2024 . For further information on Tranche 2, reference is made to the stock exchange announcement on29 April 2024 . For more information, please contact:John Andersen , Chairman ofNorsk Titanium AS Email: John.Andersen@scatec.no Tel: +47 90 17 40 80Carl Johnson , President & CEONorsk Titanium AS Email: Carl.Johnson@norsktitanium.com Tel: +1 518 324 4010Ashar Ashary , CFO Norsk Titanium AS Email: Ashar.Ashary@norsktitanium.com Tel: +1 518 556 8966 For information about the Private Placement, please contactCarnegie AS (the "Manager"): +47 22 00 93 40 This information is published in accordance with the requirements of the Continuing Obligations for companies listed on Euronext Growth Oslo and section 5-12 of the Norwegian Securities Trading Act. AboutNorsk Titanium AS : Norsk Titanium is a global leader in metal 3D printing, innovating the future of metal manufacturing by enabling a paradigm shift to a clean and sustainable manufacturing process. With its proprietary Rapid Plasma Deposition® (RPD®) technology and installed production capacity to generate annual revenues of approximatelyUSD 300 million , Norsk Titanium offers cost-efficient 3D printing of value-added metal parts to a large addressable market. RPD® technology uses significantly less raw material, energy, and time than traditional energy-intensive forming methods, presenting customers with an opportunity to better manage input costs, logistics, and environmental impact. RPD® printed parts are already flying on commercial aircraft, and Norsk Titanium has gained significant traction with large defense and industrial customers. For the latest news, go to www.norsktitanium.com or follow the Company on LinkedIn.
Click here for more information
© Oslo Bors ASA, source