Norse Atlantic Airways is preparing to conduct a follow-up share issue originally detailed during a private share placement in November last year.
The new issue – comprising 9.1 million shares – is intended to raise just over NKr100 million ($9.7 million).
Norse Atlantic says it will use the net proceeds for the same purposes as those from the private placement, notably to improve liquidity through the winter season until summer season revenues emerge.
The carrier has initiated the offering in order to “limit the dilutive effect” of the private placement, which had been directed at certain shareholders and new investors.
Norse Atlantic states that the subscription period for the latest shares will commence on 12 January and run to 24 January. The offer price of NKr11 matches the private placement shares.
Eligible shareholders will be granted 0.633 subscription rights for each share held in the company.
