Atlantic Sapphire Completes Rights Issue and Expansion Funding

Atlantic Sapphire (AASZF) has released an update.

Atlantic Sapphire ASA concluded its Rights Issue, resulting in the allocation of 6,417,000,001 new shares and the issuance of up to 7,700,400,000 warrants, alongside raising a convertible loan of NOK 213,900,000. The funds raised, amounting to a maximum of USD 64 million, will support the company’s expansion, including the ongoing construction of its Phase 2 facility expected to increase annual production capacity to 25,000 tons. The new shares are anticipated to become tradable on the Oslo Stock Exchange around October 16, 2024, following registration and full payment.

For further insights into AASZF stock, check out TipRanks’ Stock Analysis page.