Sif has launched a €50m rights offering of up to 4,353,890 new ordinary shares in the capital of the Company.
The move follows the final investment decision to expand its manufacturing facilities to create the world’s largest monopile production factory and following the adoption of resolutions by the extraordinary general meeting of shareholders on 28 March 2023.
The 7 for 41 rights offering at an issue price of €11.50 per offer share leading to approximately €50m in gross proceeds for the Company.
Sif said the issue price represents a discount of 20.9% to the €14.54 closing price of the ordinary shares in the capital of the Company on Euronext Amsterdam on 15 June 2023 and a discount of 18.4% to the theoretical ex-rights price.
Holders of Rights can subscribe for the offer shares by exercising their Rights during the period from 9:00 CET on 19 June 2023 until 17:40 CET on 4 July 2023.
Sif chief executive Fred van Beers, said: “Today we are launching the Rights Offering, the final building- block in the financial structure of our transformational expansion plan.
“And although this part was already committed to and will be underwritten by our cornerstone shareholder Grachtenheer, we are pleased that we can now also invite our further loyal shareholder base to join us in the financing of these plans.
“And whilst we do so, the actual building activities are well underway.
“Piling works have been finished and foundation works have started.
“Sif is transitioning towards being the world’s largest and leading monopile solutions provider, servicing capacity-growth of offshore wind farms.”