Arctic Securities AS has been engaged as the sole global coordinator and bookrunner (the “Manager”) to advise on and effect a contemplated private placement, which consist of an offer of 1,250,000 new shares raising gross proceeds to the Company of approximately NOK 250 million (the “Primary Offering”), as well as a sale of up to 540,924 existing shares (the “Existing Shares”) from David Callegari, Nicolas Bodereau and Matthieu Bourgeon (the three founders of In Sun We Trust, a French solar energy portal Otovo acquired in Q2 2019), as well as certain employees of the Company (the “Selling Shareholders”) (the New Shares and Existing Shares in the Company offered in the Private Placement are herein together referred to as the “Offer Shares”).
“The fast-growing European residential solar market will grow significantly over the coming years. Our online marketplace platform and network of installers equip us with a price and quality leadership, enabling us to capture market shares rapidly. We are well positioned for accelerated growth and listing the shares at Euronext Growth is a logical next step. The entire Otovo team, from Oslo in the north to Madrid in the south, is looking forward to having new shareholders joining the solar revolution and to realising our ambition to become the leading residential solar energy company,” says Otovo CEO, Andreas Thorsheim.
An updated version of the investor presentation is being published on 9 February 2021 and attached to a separate OTC announcement. The updated investor presentation will also be made available on Otovo’s investor relations site.
