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BRIEF-Outokumpu Successfully Completes Private Placement Of New Shares Raising EUR 209 Million

05/11/2021 01:11
BRIEF-Outokumpu Successfully Completes Private Placement Of New Shares Raising EUR 209 Million

- Outokumpu Oyj OUT1V.HE:

  • OUTOKUMPU SUCCESSFULLY COMPLETES PRIVATE PLACEMENT OF NEW SHARES RAISING EUR 209 MILLION

  • OUTOKUMPU OYJ HAS SUCCESSFULLY CARRIED OUT OFFERING OF 40,500,000 NEW SHARES IN CO IN A PRIVATE PLACEMENT TO INSTITUTIONAL INVESTORS IN DEVIATION OF PRE-EMPTIVE SUBSCRIPTION RIGHT OF SHAREHOLDERS

  • MAIN PURPOSE OF SHARE ISSUE IS TO ACCELERATE DE-LEVERAGING OF CO BY USING PROCEEDS TO REDUCE CO'S GROSS DEBT AND THUS STRENGTHENING ITS BALANCE SHEET

  • SUBSCRIPTION PRICE SHALL BE RECORDED IN ITS ENTIRETY INTO INVESTED UNRESTRICTED EQUITY RESERVE OF CO

  • IN CONNECTION WITH SHARE ISSUE, CO HAS ENTERED INTO A LOCK-UP UNDERTAKING, SUBJECT TO CUSTOMARY EXCEPTIONS, FOR A PERIOD OF 90 DAYS AFTER COMPLETION OF SHARE ISSUE

Source text for Eikon: ID:nWkr1zDV3b

Further company coverage: OUT1V.HE


(Gdansk Newsroom)

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