NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE'S REPUBLIC OF CHINA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT
Reference is made to the stock exchange announcement published by Norsk Titanium AS (the "Company") earlier today, on 4 December 2023, regarding the resolution by the Company's board of directors to propose that the Company carries out a share capital increase, by way of a partly underwritten rights issue, to raise gross proceeds of up to NOK 225 million (equivalent to approx. USD 21 million) (the "Rights Issue").
Date on which the terms and conditions of the preferential rights issue were announced: 4 December 2023
Last day including right: 9 January 2024
Ex-date: 10 January 2024
Record Date: 11 January 2024
Date of approval: 9 January 2024
Maximum number of new shares: 2,812,500,000
Subscription price: Minimum NOK 0.08 and maximum NOK 0.82225
Ratio preferential rights: To be announced when clarified
Subscription ratio: To be announced when the final number of new shares is determined
Managers: Carnegie AS
Will the rights be listed: The Company will apply for trading of the preferential rights on the Oslo Euronext Growth
ISIN for the preferential rights: To be announced when clarified
Other information: The subscription price for the new shares to be issued in the Rights Issue, and thus the final number of new shares and the exact amount of the share capital increase will be proposed by the board of directors, based on a recommendation from the manager, the day prior to the extraordinary general meeting to be held on 9 January 2024 (the "EGM"). The subscription price in the Rights Issue shall be the theoretical ex rights price (TERP) based on the volume-weighted average price (VWAP) of the Company's shares on the Oslo Euronext Growth the three trading days prior to the EGM, less a discount of at least 35%. However, the maximum subscription price for the new shares shall not exceed a 15% premium to the TERP calculated based on the last closing price of the Company’s shares on Euronext Growth Oslo prior to the Company’s announcement of the partially underwritten Rights Issue less a discount of at least 35%. See the stock exchange announcement published earlier today, on 4 December 2023, for further information regarding the Rights Issue. The Rights Issue is subject to approval by the EGM. Notice of the EGM will be sent on 13 December 2023.
This information is published in accordance with the requirements of the Continuing Obligations.
For more information, please contact:
John Andersen, Chairman of Norsk Titanium AS
Email: John.Andersen@scatec.no
Tel: +47 90 17 40 80
Carl Johnson, President & CEO Norsk Titanium AS
Email: Carl.Johnson@norsktitanium.com
Tel: +1 518 324 4010
Ashar Ashary, CFO Norsk Titanium AS
Email: Ashar.Ashary@norsktitanium.com
Tel: +1 518 556 8966
About Norsk Titanium:
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 approximately USD 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.
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