Norwegian cod farmer Statt Torsk said Thursday it has retained SpareBank 1 Markets AS to oversee a private placement of new ordinary shares in the company to raise between NOK 35 million ($3.5 million/€3.3 million) and NOK 50 million ($5 million/€4.7 million).
The subscription price per offer share in the private placement will be determined by the company’s board of directors.
The net proceeds from the stock sale will be used to finance optimization of harvest capacity, build-up of biomass at the company’s existing sites, as well as its new site at Apalset, Norway, and for general corporate purposes, the company said.
