FREYR Battery, a developer of clean, next-generation battery cell production capacity, has announced the closing of an underwritten public offering of 23,000,000 of its Ordinary Shares without nominal value, including the green shoe option that was exercised in full by the underwriters on December 1, 2022, at a public offering price of $11.50 per share before underwriting discounts. The gross proceeds from the offering, including the green shoe option, were approximately $264,500,000. The offering closed on December 5, 2022.
FREYR intends to use the net proceeds from this offering for the continued construction of Giga Arctic facilities, (development expenditures for Giga America and (general corporate purposes. General corporate purposes may include the financing of FREYR’s operations or investments.
Credit Suisse, BofA Securities and Morgan Stanley & Co. acted as book-running managers for the offering.
The offering was made only by means of a previously filed effective registration statement (including a base prospectus) and a preliminary prospectus supplement.