Our CEO comments our oversubscribed rights issue

CEO Peter Laurits comments: "SeaTwirl’s rights issue was oversubscribed! That is a fantastic result in a market climate that has become considerably harsher during 2022. Last year, 188 companies raised capital. The median subscription rate was 65 percent and fifth of the issues did not reach a subscription rate of 50 percent. SeaTwirl’s rights issue was subscribed to 109.3 percent in total, of which 83.6 percent was with support of unit rights from existing shareholders."

"As CEO, I am both happy and proud! Our main owner along with our other loyal and supporting shareholders showed that they really believe in what we do. That we in a market as tough as this one also can welcome new shareholders on our journey is pleasing. It provides all of us who work at SeaTwirl with lots of energy and belief in the future, and above all resources, to continue working towards becoming a leading supplier to future commercial wind farms."

"As a shareholder, I am excited about the future prospects of this company. The world needs an enormous buildout of renewable energy production, and we have a solution that can meet those needs in a very competitive way. It will be hugely exciting to follow along this company’s journey."

The result mean that SeaTwirl will receive approximately 64.5 MSEK before transaction costs.

Read the regulatory press release (in Swedish) here[2].