Circio secures funding, pivots from convertible bonds for RNA tech

Circio Holding ASA plans to raise up to NOK 50 million through a partially underwritten and presubscribed rights issue, priced at NOK 1.0 per share. The issue boasts 88.4% commitment, with presubscriptions totaling NOK 24.2 million (48.4%) from existing shareholders, including board members and management, and an additional NOK 20 million (40%) underwriting commitment. This capital infusion is expected to fund operations for approximately twelve months, extending into 2027 with warrant exercise, and support key pre-clinical development milestones for its circVec platform.

The rights issue includes 1:1 warrant coverage for all subscribed shares, exercisable in May/June 2026 at an 80% discount to the market price. The company has also secured an NOK 8 million bridge loan from the underwriter to ensure liquidity until the rights issue closes. The subscription price of NOK 1.0 per share represents a 21% discount to the volume-weighted average price over the past ten trading days up to December 5, 2025.

The proposed rights issue is subject to approval at an Extraordinary General Meeting on or about January 12, 2026, and the publication of a prospectus. This financing will enable Circio to cease drawing on its convertible bond facility with Atlas Capital Markets LLC.