Private placement completed
With reference to news release announced 11 December 2013, Agrinos today announces the completion of a private placement of NOK 25.9m (USD ~4.2m) with a subscription price per share of NOK 8 directed towards existing shareholders. This represents 3,231,250 new shares.
The number of outstanding shares in Agrinos is 44,639,605. Following the completion of the private placement announced today, combined with the previously announced investment from Manor Investment S.A. and from the bridge loan holders, the number of outstanding shares in the company will be 64,891,288. Manor Investment S.A. will then hold 17.3 % of the shares outstanding. The share capital increases are subject to final approval by an extraordinary general meeting to be held 20 December 2013.
Net proceeds from the placement will be used to execute on a business plan prioritizing the most promising market positions, research and development and organizational development, as well as industrialization of the company’s value chain.
“With the completion of this latest private placement, we have established a sound financial platform. We are satisfied with the support we have received from both the largest existing shareholders and the new strategic owner. The emerging market for agricultural biologicals is developing in an exciting manner, and we are pleased to be well positioned in it“, says Kjetil Bøhn, co-founder and interim CEO.
EVP Corporate Communications and Investor Relations
+47 908 58 221
Agrinos is a biological crop input provider committed to improving the productivity and sustainability of modern agriculture. Agrinos’ range of High Yield Technology® (“HYT®”) products helps farmers to practice profitable agriculture by providing increased crop productivity, improved efficiency of conventional fertilizer and a reduced environmental footprint.
Certified as organic and based on Agrinos’ proprietary technology, the HYT® products provide benefits by strengthening the soil-based microbial ecosystem, stimulating crop development at key points in the growth cycle and boosting natural plant resistance to pathogens and threats. With solutions for a variety of crop categories, the technology comprising the HYT® products has demonstrated its value in third-party trials in key agricultural regions worldwide.« Return to News