Pelagic Credit Plc. refers to the stock exchange announcement on 27 February 2026 regarding a contemplated private placement of new shares in the Company and listing of the Company’s shares on Euronext Growth Oslo.
The Company is pleased to announce that the Offering has been successfully placed raising gross proceeds of NOK 728 million, equaling approximately USD 48 million, at a price per share of NOK 19.67, equivalent of USD 2.03, through the allocation of 28,353,828 new shares. The Offering reflects a post-money equity capitalization for the Company of approximately USD 75 million
The Company received orders from high quality investors across the industrial
and institutional investor universe. Furthermore, Pelagic Partners will contribute USD 48.1 million through its managed funds, consisting of in-kind equity of USD 17.56 million already contributed to the Company and representing the pre-money valuation, and additional cash equity of USD 30.6 million. In addition, Christian Tobias Backer, CEO of the Company, has been allocated 57,173 Offer Shares, and Maximilian Felix Debatin, Investment Manager in the Company, has been allocated 39,408 Offer Shares in the Offering at the Offer Price. PDMR notice is attached to this announcement.
Notices of allocation will be distributed to investors on 4 March 2026.
Delivery of the Offer Shares allocated in the Offering will be settled on a delivery-versus-payment (DVP) basis on or about 6 March 2026. Euronext Oslo Børs has approved the Listing, subject to satisfaction of applicable admission requirements. Subject to successful completion of the Offering, the first day of Listing is expected to be on or about 9 March 2026.
Following completion of the Offering, the Company’s issued share capital will be USD 37,000,000 consisting of 37,000,000 issued shares, each share par value USD 1.00.
Clarksons Securities AS and Fearnley Securities AS are acting as Joint Global Coordinators and Joint Bookrunners in respect to the Offering and Listing. Arctic Securities AS is acting as Joint Bookrunner in connection with the Offering. Advokatfirmaet BAHR AS is acting as legal counsel to the Company.