Teate vaade
Ettevõte Baltic Horizon Fund / Northern Horizon Capital AS
Tüüp Korraldatud teave
Kategooria Muud korporatiivtoimingud
Avaldamise aeg 12 apr 2019 09:45:00 +0300
Keel English
Pealkiri Baltic Horizon Fund closes an oversubscribed private placement
Northern  Horizon Capital  AS, the  management company  of Baltic  Horizon Fund,
raised  EUR  20.5 million  in  an  oversubscribed private placement. The private
placement,  targeting institutional investors in  select European countries, was
announced on 25 February 2019 and closed on April 11, 2019.

The  transaction  received  strong  interest  from  investors  with total orders
representing  over 160% of the  maximum supply permitted  in accordance with the
resolution adopted during the general meeting of Baltic Horizon Fund's investors
held  on the 19(th) of February 2019. The new  units to be issued represent less
than  20% of the number of Baltic Horizon Fund units already admitted to trading
over  a period of  12 months. Therefore, Northern  Horizon Capital AS intends to
issue  15,699,366 new units corresponding to a  gross value of EUR 20.5 million.
The proceeds will be used for new investments in real estate.

"We  are  very  pleased  with  the  exceptionally  high  interest in the private
placement  of new Baltic Horizon  fund units. The new  capital for this fund was
raised  mainly from several  new Baltic and  Swedish institutional investors. We
are  aiming to strategically deploy the newly raised funds in the Baltic capital
cities shortly," commented Tarmo Karotam, Fund manager of Baltic Horizon.

The new units will be issued at EUR 1.3067, which is calculated according to the
procedure adopted at the general meeting referred above and will be equal to the
weighted  average price of units  on the Nasdaq Tallinn  Stock Exchange over the
90-day period between November 27, 2018 and February 24, 2019.

After  the issuance of new units, the  total number of Baltic Horizon Fund units
registered in the Estonian Register of Securities will increase from 78,496,831
to 94,196,197.

Northern  Horizon Capital AS intends to list the new units on the Nasdaq Tallinn
and  Nasdaq  Stockholm  Stock  Exchange,  with  the  first trading day on Nasdaq
Tallinn  expected to be on or around 17 April 2019 and on Nasdaq Stockholm on or
around 23 April 2019.

For additional information, please contact:

Tarmo Karotam
Baltic Horizon Fund manager
E-mail tarmo.karotam@nh-cap.com (mailto:tarmo.karotam@nh-cap.com)

Baltic  Horizon Fund is  a registered contractual  public closed-end real estate
fund  that  is  managed  by  Alternative  Investment Fund Manager license holder
Northern Horizon Capital AS.
Distribution:     GlobeNewswire,     Nasdaq     Tallinn,    Nasdaq    Stockholm,