Hofseth BioCare secures NOK 158m in private placement for growth

Hofseth BioCare ASA has successfully placed 87,811,110 new shares in a private placement at an offer price of NOK 1.80 per share, raising gross proceeds of approximately NOK 158 million. The funds are earmarked for growth capital, balance sheet strengthening, and general corporate purposes.

Notable investors include Guy Urquhart, who was allocated 55,444,444 shares for approximately NOK 100 million, and Hofseth International AS, receiving 28,666,666 shares for about NOK 52 million. The private placement will be settled in two tranches. Tranche 1 issues 59,144,444 shares by a board authorization, and Tranche 2 issues 28,666,666 shares subject to approval at an extraordinary general meeting.

To mitigate dilution, the board proposes a subsequent offering of up to 16,666,666 new shares at the same subscription price, aiming to raise up to NOK 30 million. This offering is directed towards existing shareholders not participating in the private placement and is subject to corporate approvals and market conditions.