Klaveness Combination Carriers (KCC) has raised USD 45 million through the private placement of common shares.
Following the successful closing of the private placement, the company will issue 8,241,750 common shares at a subscription price of USD 5.46 per share for aggregate gross proceeds of USD 45 million.
The company will use the funds to partly equity finance one declared CLEANBU newbuilding and one CLEANBU newbuilding option from Jiangsu New Yangzi with scheduled deliveries in 3Q and 4Q 2020, as well as for general corporate purposes including working capital, supervision and transaction costs.
Klaveness Ship Holding AS invested USD 3.6 million in the private placement and will own approximately 63% of the outstanding share capital following the issuance of the new shares.
“KCC has through this transaction taken a significant step towards growing the company and its new combination carrier service in the CPP market. Further, following the new, wide investor base, the company is well set up for potential future fund raising and eventual listing on the Oslo Stock Exchange,” Lasse Kristoffersen, CEO of Torvald Klaveness and Chairman of KCC, commented.
The company’s shares will be tradable on N-OTC on or about October 9, 2018.