NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, IN
(
The Company announces today that it has raised approximately
The net proceeds will be used to:
· Maintain and strengthen market position through accelerated investments in technology and organization to take advantage of the attractive market opportunities
·
· Strengthening investment in development and innovation across segments and technologies to stay on the technological forefront
· Continue to develop the organization, both within management systems, engineering, project execution, production and process improvement
·
· Additional focus on people and safety
· Strengthening the balance sheet and financial position to satisfy counterparty requirements on large scale projects
·
· Ability to satisfy contractual obligations
· Ability to provide required bonds/guarantees
· The proceeds will also fund additional working capital in response to increased order volumes and contract sizes, as well as general corporate purposes
The new shares to be issued in connection with the Private Placement will be issued based on a Board authorisation granted by the Company's general meeting held
The Board of Directors of the Company has resolved to carry out a subsequent offering of up to 13,350,000 new shares towards the Company's shareholders as of
The Company has considered the Private Placement in light of the equal treatment obligations under the Norwegian Securities Trading Act and Oslo Børs' Circular no. 2/2014 and is of the opinion that the waiver of the preferential rights inherent in a private placement is considered necessary in the interest of time and successful completion. Taking into consideration the time, costs and expected terms of alternative methods of the securing the desired funding, as well as the subsequent offering, the Board of Directors has concluded that the conclusion of the Private Placement on acceptable terms at this time is in the common interest of the shareholders of the Company.
ENDS
For additional information, please contact:
Jon André Løkke, CEO, +47 907 44 949
Bent Skisaker, CFO, +47 468 21 693
About
Nel Hydrogen is a global, dedicated hydrogen company, delivering optimal solutions to produce, store and distribute hydrogen from renewable energy. We serve industries, energy and gas companies with leading hydrogen technology. Since its origins in 1927, Nel has a proud history of development and continual improvement of hydrogen plants. Our hydrogen solutions cover the entire value chain from hydrogen production technologies to manufacturing of hydrogen fueling stations, providing all fuel cell electric vehicles with the same fast fueling and long range as conventional vehicles today.
https://news.cision.com/nel-asa/r/nel-asa--private-placement-successfully-completed,c3014282
https://mb.cision.com/Main/115/3014282/1177835.pdf
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