Norsk Titanium AS, Hønefoss, Norway, reports that it has satisfied the conditions for listing on the Euronext Growth Oslo. The company’s first day of trading on the exchange was May 18, 2021, under the ticker code NTI.
The listing follows a successful share issue through a private placement that raised approximately USD $38 million. Leading shareholders, represented on the board of directors, participated in the private placement with USD $15 million, and the investment company Ferd AS participated with USD $10 million. Norsk Titanium intends to use the proceeds from the private placement to fund planned growth initiatives.
“Today marks an important milestone for Norsk Titanium,” stated Michael Canario, CEO. “The funding enabled through the Euronext Growth listing will support our ongoing development activities with our commercial customers as well as assist the transition of our technology into new markets such as defence and industrial applications. I would like to thank our advisors and the extraordinary team at Norsk Titanium who made this possible.”
John Andersen, chairman of Norsk Titanium and CEO of Scatec Innovation AS, founding shareholder of Norsk Titanium, commented, “Norsk Titanium is innovating the future of metal and is uniquely positioned to disrupt the manufacturing of titanium components. We are addressing a large market opportunity, and the listing on Euronext Growth provides access to the capital required to industrialise our technology at scale.”
Carnegie AS and Skandinaviska Enskilda Banken AB acted as joint global coordinators and joint bookrunners in connection with the private placement and listing. Advokatfirmaet Selmer AS acted as legal advisor to Norsk Titanium.