Northern Ocean plans private placement of new shares at NOK 6.50 each to raise about USD 71.5 million
Bitget2026/10/05 11:32Northern Ocean launched a private placement to raise about USD 71.5 million at a fixed price of NOK 6.50 per share. Deal is part of a broader refinancing that lifts Sterna financing commitments to USD 150 million from USD 125 million. Private placement is expected to issue about 104,000,000 new shares, equal to about 34% of the 303,215,392 shares outstanding. Hemen pre-committed about USD 60 million; Sterna pre-committed about USD 11.5 million via set-off against accrued PIK interest. Application window runs Oct. 5, 2026 to Oct. 6, 2026; allocation notifications expected around Oct. 7, 2026. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Northern Ocean Ltd. published the original content used to generate this news brief on October 02, 2026, and is solely responsible for the information contained therein.
- Northern Ocean launched a private placement to raise about USD 71.5 million at a fixed price of NOK 6.50 per share.
- Deal is part of a broader refinancing that lifts Sterna financing commitments to USD 150 million from USD 125 million.
- Private placement is expected to issue about 104,000,000 new shares, equal to about 34% of the 303,215,392 shares outstanding.
- Hemen pre-committed about USD 60 million; Sterna pre-committed about USD 11.5 million via set-off against accrued PIK interest.
- Application window runs Oct. 5, 2026 to Oct. 6, 2026; allocation notifications expected around Oct. 7, 2026.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Middle Eastern oil flow restored to about 80% of pre-war levels; Shell CEO Sawan says energy security is the cornerstone of national security.
According to reports, Shell (SHEL.US) CEO Wael Sawan said on Tuesday that Middle East oil flows have recovered to about 80% of pre-war levels.
BUZZ-Australia's Kelsian shares rise as asset sale triggers Morningstar's cautious optimism
Latest developments on October 7th – Kelsian Group (KLS.AX) shares briefly rose 1% to A$3.93 before narrowing gains to 0.3% by midday in Sydney. Morningstar holds a positive view on the transport operator’s recently announced A$150 million (US$104.76 million) sale of travel assets in mid-September. The investment research firm noted that this divestment relieves the transportation and travel operator from reliance on discretionary-spending businesses such as resorts, cruises, and tours. It also stated that the sale enables management to focus more on core operations and moderately reduces capital intensity. However, Morningstar pointed out that the sale means profits from the marine segment will still be "discretionary in nature." It added that the sale will leave the company’s earnings mainly dependent on its US interstate coach business, which is characterized by short-term contracts without cost-adjustment mechanisms and serves highly volatile sectors such as technology, oil, and gas. Year to date, the share price is down 8.2%. (US$1 = A$1.4318) (For the convenience of non-English speakers, Reuters automatically translates its reports into several other languages. Automated translation may be inaccurate or may not completely reflect the required context; Reuters does not guarantee the accuracy of translated texts, which are provided solely for reader convenience. Reuters is not responsible for any harm or loss arising from the use of automatic translation.)
JPMorgan raises Gilead Sciences' target price to $170.
Crypto prices
More
