Desert Control launches underwritten rights issue to raise NOK 75m

Desert Control AS today, September 10, 2025, launched the subscription period for its fully underwritten rights issue. The company is offering 60,743,500 new shares at a subscription price of NOK 1.2347 per share to raise gross proceeds of NOK 75 million. The subscription period will run until September 24, 2025, at 16:30 CEST.

Existing shareholders as of September 5, 2025, registered in Euronext Securities Oslo by September 9, 2025, have been granted 1.130154 tradable subscription rights for each existing share held. These rights, identified by ticker DSRTT, will be tradable on Euronext Growth Oslo from September 10, 2025, until September 18, 2025, at 16:30 CEST. Unexercised or unsold rights will lapse without compensation.

The rights issue is fully underwritten for NOK 75 million, with underwriters receiving a 10% cash fee or a 12% fee in new shares. Notable underwriters include Woods End Interests LLC (NOK 15 million), Handelsbanken Fonder AB (NOK 5,497,500), and Sancta Capital (NOK 7,500,000). New investors have committed to underwrite a total of NOK 37,167,500. Offer shares will be primarily allocated based on exercised subscription rights, followed by oversubscriptions, and finally to underwriters to fulfill their obligations. Arctic Securities AS is acting as manager and bookrunner for the issue.