Otovo plans private placement raising USD 6 million-10 million at NOK 11.5 per share

  • Otovo announced a private placement of new shares to raise gross proceeds equivalent to USD 6 million to USD 10 million.
  • Offer price fixed at NOK 11.5 per share.
  • An existing shareholder plans a secondary sale of up to 453,908 shares alongside the placement.
  • Net proceeds earmarked mainly for the planned acquisition of Green Panel Solar Energy Systems, with the remainder for general corporate purposes.
  • Bookbuilding runs from today 16:30 CEST to July 3 at 08:00 CEST, with settlement expected around July 7.


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