Scandinavian operator Norse Atlantic has cancelled a proposed additional offering of shares, because the company’s stock price is below the threshold for issue.
Norse had been considering the additional offering as a follow-up to a private placement disclosed in October.
This offering would have comprised up to 12.09 million new shares at the same price as the privately-allocated stock – raising up to NKr93 million ($9.2 million).
But the carrier states that, after the private placement, its shares were trading below the proposed offer subscription price.
“Any existing shareholder seeking to reduce the dilutive effect of the private placement has had sufficient opportunity to purchase shares in the market at prices at, or below, the subscription price,” says Norse.
Given this situation, it adds, the company’s board has “resolved to cancel” the additional offering.
Source link
Scandinavian operator Norse Atlantic has cancelled a proposed additional offering of shares, because the company’s stock price is below the threshold for issue.
Norse had been considering the additional offering as a follow-up to a private placement disclosed in October.
This offering would have comprised up to 12.09 million new shares at the same price as the privately-allocated stock – raising up to NKr93 million ($9.2 million).
But the carrier states that, after the private placement, its shares were trading below the proposed offer subscription price.
“Any existing shareholder seeking to reduce the dilutive effect of the private placement has had sufficient opportunity to purchase shares in the market at prices at, or below, the subscription price,” says Norse.
Given this situation, it adds, the company’s board has “resolved to cancel” the additional offering.
Source link
Share This:
skylinesmecher
Plan the perfect NYC Memorial Day weekend
Pack only what you need and avoid overpacking to streamline the check-in and security screening…
LA’s worst traffic areas and how to avoid them
Consider using alternative routes, such as Sepulveda Boulevard, which runs parallel to the 405 in…
United Aircraft passenger airliner prototypes to undergo natural icing tests
United Aircraft is to undertake natural icing tests on three new aircraft models, with prototypes…
Thales to supply new communications system for Pilatus PC-7 trainer operator
Thales has been chosen to provide a radio management system for use by an undisclosed…
Airbus and Leonardo open to collaboration on next-generation military helicopter despite differences
Europe’s big two helicopter manufacturers remain open to collaborating on a next-generation military rotorcraft in…
Nose-wheel misalignment preceded DHC-6’s excursion and collision with helicopter
French investigators have disclosed that the nose-wheel of an Air Antilles De Havilland DHC-6 was…
Swedish military advances Esrange satellite launch site plans with SSC Space
NATO member Sweden has signed an agreement paving the way for it to commence satellite…
BA to return to Melbourne, Colombo after decades-long hiatus | News
British Airways will resume operations to Melbourne and Colombo during the Northern Winter schedule –…
Airbus Defence & Space prepares Valkyrie pair for ‘UCCA’ mission test alongside Eurofighter for Germany
Targeting the delivery of a ‘loyal wingman’-type capability for the German air force before the…
Baykar Technology aces AI-enabled drone swarm trials with five new ‘K2 Kamikaze’ aircraft
Turkish uncrewed aerial vehicle (UAV) developer Baykar Technology has unveiled what it describes as the…
Leonardo to demonstrate M-346 commanding two Baykar uncrewed fighters by mid-year
Leonardo will conduct the first demonstration flight later this year pairing its M-346 platform with…
B-1B bombers load bombs and cruise missiles at RAF Fairford for Iran air strikes
Amid the ongoing US-Israeli air campaign against Iran, US Air Force (USAF) bombers have been…