(Oslo, 21 September 2021) DLT ASA (DLTx, OSE: DLTX) is pleased to announce that it has raised approximately NOK 24 million in gross proceeds through a private placement directed towards D Ledger Partners LLC (the “Private Placement”). The Private Placement consists of (i) 2,179,370 newly issued shares, and (ii) the sale of 197,237 existing shares owned by the Company.
The Company intends to use the net proceeds from the Private Placement to accelerate growth through near-term opportunities such as expanding the recently announced Filecoin Storage Provider venture and other general corporate purposes.
The subscription price in the Private Placement is NOK 10 per share. This
represents a premium of 17,6 percent compared to the closing price on the Oslo Stock Exchange on 20 September.
The new shares have been resolved issued by the board of directors of the
Company (the “Board”) pursuant to an authorization granted to the Board by the general meeting in June 2021. The new share capital following the share capital increase pertaining to the Private Placement will be NOK 91,321,963, divided by 57,076,227 shares, each with a par value of NOK 1.60. The registration of the share capital increase in the Norwegian Register of Business Enterprises is expected to take place on or about 30 September 2021.
The Board has found the Private Placement to be in compliance with the
applicable equal treatment requirements. The Private Placement allows the Company to raise capital faster, with lower risk and significantly lower transaction costs than in a rights issue. Further, no discount is given from market price as the subscription price represents a premium of 17,6 percent compared to the closing price on the Oslo Stock Exchange on 20 September. Finally, the Board emphasizes that D Ledger Partners LLC is generally considered a strong and long-term investor who the Company and the joint shareholders will gain from including as a shareholder.
DLTx is in ongoing discussions with D Ledger Partners LLC and other investors regarding other protocol based venture investments similar to deals DLTx has previously made.
About DLTx
DLT is focused exclusively on building technology in the blockchain industry. DLTx will partner with the best-in-class companies in sectors being reshaped by Distributed Ledger Technologies. The management and advisory board have considerable experience within the blockchain ecosystem and will actively advise and support the companies DLTx helps to develop. DLTx will support core developers, run validation nodes, hold governance tokens, and help companies with the right technology, teams, and market prospects to succeed.
Company Links
Website: dltx.com
Twitter: twitter.com/joinDLTx
LinkedIn: linkedin.com/company/join-dltx
Facebook: facebook.com/joinDLTx
Reddit: reddit.com/r/DLTx
YouTube: https://www.youtube.com/channel/UCMsd-2LHlMMyGrlAYkTlSgQ
Company Profile on the Oslo Børs Stock Exchange: https://live.euronext.com/en/product/bonds/NO0003055808-XOSL/company-information
