NORBIT founder's family sells stake, raises 651m NOK for new investments

Draupnir Invest AS, owned by the children and founder Steffen Kirknes, completed a block sale of 3,252,949 shares in NORBIT ASA at 200 NOK per share, generating approximately 651 million NOK. This transaction represents approximately 5.1% of the company's outstanding shares, leaving Draupnir Invest AS with no remaining shares.

Following the sale, Draupnir Invest AS's shareholding in NORBIT has fallen below the 5% disclosure threshold. Steffen Kirknes, the founder, still maintains a substantial interest as the ultimate beneficial owner of VHF Invest AS, which holds 6,164,495 shares, representing approximately 9.6% of the company. His combined ownership, through both entities, has fallen below the 10% disclosure threshold.

The proceeds from this offering will be used by the children to advance their newly established family office's strategy of investing in early-stage Norwegian businesses. To demonstrate continued confidence in NORBIT, the Kirknes family, including the founder, has entered into a 12-month lock-up agreement for their remaining shares not sold in the offering.