Atlantic Sapphire Announces Major Capital Raise

Atlantic Sapphire (AASZF) has released an update.

Atlantic Sapphire ASA is set to expand its capital by issuing up to 6.8 billion new shares to raise approximately USD 64 million, with an underwriting consortium committing to USD 60 million of the sum. Additionally, the company is issuing nearly 7.7 billion warrants to Rights Issue subscribers, underwriters, and convertible loan lenders. Key associates of the company’s board members have subscribed to a significant number of both Offer Shares and Warrants, indicating strong insider support for the capital raise.

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