Proximar Seafood plans EGM for NOK 150m refinancing, rights issue

Proximar Seafood AS announced an Extraordinary General Meeting (EGM) on September 17, 2025, to approve a refinancing plan previously announced on July 9, 2025. Key resolutions include a fully underwritten rights issue to raise NOK 150,000,000, amendments to the convertible bond, an issuance of new shares to underwriters, and board authorizations for future share issuances. The gross proceeds from the rights issue will primarily fund short-term bridge financing, refinance a shareholder loan, cover general corporate purposes, and increase working capital.

The rights issue offers shares at NOK 1 each, with existing shareholders receiving tradeable subscription rights. A consortium of 18 underwriters, including several current shareholders, has fully underwritten the issue, committing NOK 150,000,000 and receiving a 9% underwriting fee settled in new shares. The shares are expected to trade exclusive of subscription rights from September 18, 2025, with the subscription period running from September 22 to October 6, 2025.

The EGM will also address an update to the company's option program, involving the cancellation and replacement of 4,530,000 existing options, with new options subject to a three-year vesting period and a strike price set at market price plus 25%. Additionally, the board seeks authorization to increase share capital by up to NOK 5,933,370.6 for general corporate purposes and up to NOK 2,966,685.30 for the share option program.