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Oslo, Norway, 18 June 2025: Reference is made to the stock exchange announcements by Thor Medical ASA (the "Company") on 18 June 2025 regarding the completion of a private placement of new shares to be issued by the Company (the "Private Placement") and a retail offering through PrimaryBid (the "PrimaryBid Offering").
Scatec Innovation AS has agreed to lend existing and unencumbered shares in the Company, already being traded on Euronext Oslo Børs, to Arctic Securities AS and DNB Carnegie, a part of DNB Bank ASA (the “Managers”) for the Private Placement and the PrimaryBid Offering. Borrowed shares will be used for settlement towards investors having been allocated shares in the Private Placement and the PrimaryBid Offering and redelivered to Scatec Innovation AS upon registration of the share capital increase pertaining to the Private Placement and the PrimaryBid Offering.
Prior to the completion of the Private Placement, Scatec Innovation AS held 78,419,309 shares in the Company, representing approx. 24.94% of the issued share capital and votes. Scatec Innovation AS has lent a total of 31,577,399 existing shares which will be delivered to the investors in the Private Placement and the PrimaryBid Offering other than Scatec Innovation AS. During the term of the loan, and prior to the redelivery, Scatec Innovation AS' shareholding in the Company will be reduced to 46,841,910, equivalent to approx. 14.90% of the issued share capital and votes. Consequently, Scatec Innovation AS has fallen below the 20 and 15% thresholds pursuant to section 4-2 (1) and (3) of the Norwegian Securities Trading Act.
In addition, Scatec Innovation AS has controlling interest in Scatec Invest IV AS, which holds 1,281,338 shares in the Company. Scatec Innovation AS' aggregated shareholding is thus 48,123,248 after the share lending, equivalent to approx. 15,31% of the issued share capital and votes in the Company.
The board of directors of the Company has resolved to issue 30,000,000 offer shares in the Private Placement and 4,577,399 offer shares in the PrimaryBid Offering pursuant to the authorisation granted by the Company's annual general meeting held on 24 April 2025, that will be subscribed by the Managers, and, once issued, delivered to Scatec Innovation AS as redelivery of shares borrowed in relation to settlement of the Private Placement and the PrimaryBid Offering, as well as delivery of 3,000,000 shares allocated to Scatec Innovation AS in the Private Placement.
Scatec Innovation AS is a close associate of chairman John Andersen. Primary insider notification pursuant to the market abuse regulation article 19 is attached.
This announcement is published in accordance with section 4-2 of the Norwegian Securities Trading Act and is subject to disclosure requirements pursuant to the EU Market Abuse Regulation article 19 (3) and the Norwegian Securities Trading Act section 5-12.
Contacts
Brede Ellingsæter, CFO & COO, Thor Medical ASA, +47 472 38 440, brede.ellingseter@thormedical.com
ABOUT THOR MEDICAL ASA
Thor Medical is an emerging supplier of radionuclides, primarily alpha particle emitters, from naturally occurring thorium. Its proprietary production process requires no irradiation or use of nuclear reactors, and provides reliable, environmentally friendly, cost-efficient supply of alpha-emitters for the radiopharmaceutical industry. Thor Medical is headquartered in Oslo, Norway and listed on the Oslo Stock Exchange under the ticker symbol 'TRMED'.
To learn more, visit www.thormedical.no
