Proximar Seafood completes NOK 14.2 million ($1.41 million) private placement.
Proximar Seafood has completed a private placement raising gross proceeds of NOK 14.2 million ($1.41 million) through the issuance of 14,217,278 new shares at NOK 1.00 per share.
The board approved the placement on 10 July 2025, using an authorisation granted at the annual general meeting on 23 April 2025. The transaction was directed exclusively at the underwriters of the company’s contemplated rights issue, under existing underwriting agreements.
Net proceeds will be used for working capital and general corporate purposes, according to a stock exchange update from the company.
Following registration, the company’s share capital will total NOK 15,639,006, comprising 156,390,060 shares each with a nominal value of NOK 0.10.
The board acknowledged that the private placement represents a deviation from shareholders’ pre-emptive rights but deemed it necessary to address short-term liquidity needs. It stated that the structure complies with Norwegian company law and equal treatment obligations, and is part of a broader solution involving a forthcoming rights issue, conversion of bond loans, and revised loan terms to improve the company’s financial position.
A rights issue open to all shareholders is scheduled for August or September at the same subscription price.
ABG Sundal Collier ASA acted as financial advisor and Advokatfirmaet Thommessen AS as legal counsel.