Sif has announced almost 99% take-up in its rights offering ahead of listing on Euronext Amsterdam.
Under the offering, 98.9% or 4,305,420 offer shares were subscribed for through the exercise of rights.
The remaining 48,470 Offer Shares that were issuable upon the exercise of rights but that have not been validly subscribed for during the exercise period will, subject to the satisfaction of conditions contained in and on the terms of the Underwriting Agreement, be subscribed and, at a price of €11.50 per offer share, paid for by Grachtenheer 10.
Because of the foregoing, there will be no rump offering.
Sif has been informed by Grachtenheer that Grachtenheer has agreed to sell 50% of the offer shares to be acquired by it in the offering, and through its underwriting of the offering, to certain third party investors on or shortly after the settlement of the offering.
The executive board members of Sif bought 2,085 ordinary shares and 172,282 rights on-market to subscribe for 29,414 offer shares in total.
Members of the management team and other key employees of Sif purchased 33,366 new ordinary shares in total that will be issued separately under the authorisation that was granted to the executive board by the general meeting on 12 May 2023.
The executive board members, the members of the management team and other key employees will accept a lock-up period of four years after issuance of the ordinary shares.
Sif expects that the ordinary shares to be issued in connection with the offering will be listed and admitted to trading on Euronext Amsterdam at 09:00 CET on 7 July 2023, barring unforeseen circumstances.
The same applies to the 33,366 new Ordinary Shares to be issued to members of the management team and other key employees of Sif.
Fred van Beers, chief executive of Sif, said: “The successful completion of the rights offering as a key building-block for the financing of our expansion plans enables us to fully focus on the realisation of the plans and the delivery of our strong order book.
“I am very pleased by the near 100% take-up of the new shares and by the trust our shareholders herewith express in the future of offshore wind and Sif’s leading role as the operator of the largest monopile manufacturing plant in our market.”