After chasing money for two weeks, Proximar Seafood can breathe a sigh of relief. The convertible bond loan is fully subscribed, not least thanks to an unnamed “large strategic Japanese investor”.
On Monday, it appears from a stock exchange announcement that Proximar Seafood and facilitators have received subscriptions covering the total convertible bond size of NOK 250 million (€25 million).
The conversion rate in the convertible bond is lowered from NOK 6 to NOK 5 per stock.
Proximar has struggled for a long time to secure sufficient funding, and the share price reflects this. On Monday, the price fell further, to a new low of NOK 5.10.