Gigante Salmon AS announced a private placement of 277,777,777 new shares at an issue price of NOK 7.20 per share for the gross proceeds of NOK 199,999,994 on October 4, 2023.The company has engaged intends to subscribe for up to NOK 199,999,999 in the Private Placement.

On October 11, 2023, the company announced that it has issued 10,000,000 shares at an issue price of NOK 7.2 per share for the gross proceeds of NOK 72,000,000 in the first tranche. The Offer Shares allocated to applicants in Tranche 1 will be tradable upon notification of allocation and Offer Shares allocated in Tranche 2 will be tradable after the share capital increase pertaining to Tranche 2 has been registered with the Norwegian Register of Business Enterprises. Completion of Tranche 2 is subject a resolution by the EGM to issue the Offer Shares in Tranche 2, receipt of payment in full for all of the Offer Shares in Tranche 2, registration of the share capital increase relating to the Offer Shares in Tranche 2 in the Norwegian Register of Business Enterprises and the Offer Shares in Tranche 2 being validly issued and registered with the Norwegian Central Securities Depository (VPS). Completion of Tranche 1 is not conditional upon completion of Tranche 2. The settlement of Offer Shares under Tranche 1 will remain final and binding and cannot be revoked, cancelled or terminated by the respective applicants if Tranche 2 is not completed. The Company intends to carry out a subsequent offering with non-tradeable subscription rights of up to 2,777,777 new shares. Gigante Havbruk AS and certain other shareholders will receive their allocation in Tranche 2.