5.5.2026 16:31:36 CEST | Magnora ASA | Inside information
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, HONG
KONG, SOUTH AFRICA OR JAPAN OR IN ANY OTHER JURISDICTION IN WHICH SUCH RELEASE,
PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT IS NOT A
PROSPECTUS AND DOES NOT CONSTITUTE A PUBLIC OFFER OF ANY OF THE SECURITIES
DESCRIBED HEREIN.
Oslo, 5 May 2026
Magnora ASA (the "Company" or "Magnora" with OSE ticker: "MGN") announces a
contemplated private placement (the "Private Placement") of up to approximately
8.2 million shares (the "Offer Shares"), representing approximately 12.6% of the
outstanding share capital.
The Private Placement is expected to be completed by the issuance of up to
6,578,182 new shares (the "New Shares") pursuant to an authorization to issue
new shares granted to the Company's board of directors (the "Board") by the
Company's annual general meeting on 29 April 2025 (the "Board Authorization"),
supplemented by a sale of up to approximately 1.6 million shares held in
treasury by the Company (the "Treasury Shares").
Arctic Securities AS is acting as sole manager and bookrunner (the "Manager").
The subscription price per Offer Share is set at a fixed price of NOK 29 (the
"Offer Price").
The application period will commence today 5 May 16:30 (CEST) and close on or
before tomorrow 6 May 2026 at 08:00 hours (CEST) (the "Application Period"). The
Company may in consultation with the Manager, at its sole discretion, extend or
shorten the Application Period at any time and for any reason and on short or
without notice. If the Application Period is shortened or extended, the other
dates referred to herein may be amended accordingly.
The net proceeds to the Company from the Private Placement will be used
primarily to fund investments into the data center business, and for development
of the Company's other business segments.
As announced by Magnora on 29 April 2026, the Company is planning for a
potential IPO of its data center business segment.
CEO Erik Sneve commented:
"Based on the feedback received recently from our shareholders and investors
after the Q1 presentation, there is a need to address the timing of the IPO.
After the private placement has been completed, we expect the final process of
the IPO to commence shortly, and listing is expected in late Q2/Q3 this year,
given that market conditions remain favorable.
The management and Board of Directors have strong beliefs in our planned data
center IPO and the unique market opportunity ahead. Magnora ASA therefore
intends to continue investing and remain the majority shareholder in the data
center business after the IPO.
The returns are currently highly attractive, and we believe that we can continue
to create substantial new values for the shareholders of Magnora ASA in the data
center space through an IPO.
Our strategy is to allocate the right capital where we see the highest returns
and best risk rewards.
The main part of the proceeds from the private placement will be used to invest
in our new data center platform, and to develop our other business segments
selectively."
Selling restrictions:
The Private Placement will be offered to investors subject to applicable
exemptions from relevant prospectus requirements in accordance with Regulation
(EU) 2017/1129 and is directed towards a limited number of selected investors
subject to applicable exemptions from relevant prospectus, filing and
registration requirements: (i) outside the United States in reliance on
Regulation S under the US Securities Act of 1933 (the "US Securities Act") and
(ii) in the US only to persons reasonably believed to be "qualified
institutional buyers" (QIBs) as defined in Rule 144A under the US Securities
Act. Applicable selling restrictions will apply. In the United Kingdom, it shall
be directed only at persons who are "qualified investors" as defined in
paragraph 15 of Schedule 1 to the Public Offers and Admission to Trading
Regulations 2024, and who are (i) persons having professional experience in
matters relating to investments who fall within the definition of "investment
professionals" in Article 19(5) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005, as amended (the "Order") or (ii) high net
worth entities falling within Article 49(2)(a) to (d) of the Order