Condire Management Amplifies Stake in Atlantic Sapphire

Atlantic Sapphire (AASZF) has released an update.

Condire Management, LP has significantly increased its stake in Atlantic Sapphire ASA, crossing the 15% threshold of shares and voting rights after being allocated nearly 983 million new shares in the company’s Rights Offering. Additionally, Condire Management has been granted over 2.3 billion warrants, which could represent up to 16.86% of Atlantic Sapphire’s share capital if all outstanding warrants are exercised. They also provided the firm with a convertible loan of NOK 213.9 million, further bolstering their investment, but with a cap restricting ownership to below 20% post-conversion.

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