Baltic Sea Properties Announces Final Results of the Subsequent Offering
On 28 June 2024, Baltic Sea Properties AS, referred to as “BALT” or the “Company,” along with its subsidiaries known collectively as “BSP,” concluded the subscription period for its subsequent offering, initially announced on 14 June 2024. This offering entailed up to 1,020,408 new shares, termed the “Offer Shares,” at a subscription price of NOK 49 per share, aiming to raise additional capital for the company.
The subscription period, marking a critical phase in the company’s fundraising efforts, expired on 28 June 2024 at 16:30 CEST. By the end of this period, Baltic Sea Properties received valid subscriptions for 226,450 Offer Shares. The board has accordingly resolved to issue and allocate these shares to the subscribers, subject to the timely payment of their subscription amounts, thereby raising approximately NOK 11 million in gross proceeds from this subsequent offering.
Subscribers are advised that notifications regarding the allocation of Offer Shares and the requisite payment details are expected to be dispatched on or about 1 July 2024. The company has set the payment date for the Offer Shares on 3 July 2024. Following the successful processing of payments and the completion of necessary registrations with the NRBE, the allocated Offer Shares are anticipated to be delivered around 11 July 2024. Furthermore, these shares are expected to commence trading on Euronext Growth Oslo shortly thereafter, on or about the same date.
Norne Securities AS and SpareBank 1 Markets AS have contributed their expertise as managers for the subsequent offering. Additionally, AGP Advokater has provided legal counsel to Baltic Sea Properties throughout the offering process, helping navigate the complex regulatory landscape associated with such financial activities.
About Baltic Sea Properties AS
Baltic Sea Properties stands as a leading open-ended, fully integrated real estate investment company in the Baltics. It boasts a diversified portfolio generating cash flow from modern real estate assets across logistics, industrial, and commercial segments. The company’s strategy focuses on leveraging its extensive expertise to identify and capitalize on investment opportunities within the dynamic Baltic real estate market.
Important Notice:
This announcement serves informational purposes and does not constitute any form of financial advice or an offer to buy or sell securities. The company underscores the importance of independent judgment and recommends consultation with professional advisors before making any investment decisions. The distribution of this announcement and other related information may be restrained by law in certain jurisdictions. It is the responsibility of recipients to inform themselves about, and to observe, any such restrictions.
Prospective and current investors are advised that forward-looking statements made in this announcement are based on current expectations and are subject to risks and uncertainties that could cause actual results to differ materially. These forward-looking statements reflect Baltic Sea Properties’ views as of the date of this announcement. However, events or changes may prompt these views to change. The company does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
In summary, Baltic Seaice Properties’ recent subsequent offering marks a pivotal step in the company’s growth and development journey. By securing additional funds through the issuance and allocation of Offer Shares, the company is well-positioned to further its strategic objectives and strengthen its presence in the Baltic real estate market.
