Northern Horizon Capital AS, the management company of Baltic Horizon Fond, has
closed private placements raising a total of EUR 16.5 million. The intention to
raise capital in connection with the acquisition of the North Star business
centre was announced on 30 August 2019. The private placement was aimed at
institutional investors, mainly in the Baltic and Nordic countries. As part of
this effort, Northern Horizon Capital AS signed a subscription agreement to the
amount of EUR 5 million with UAB Prosperus Strategic RE Fund, the seller of the
North Star business centre
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 a total of 12,472,323
new units corresponding to a gross value of EUR 16.5 million. The proceeds will
be used for new investments into real estate properties.
The new units will be issued in two parts: 8,699,592 new units are expected to
be issued on or around 4 October 2019 and 3,772,731 new units to UAB Prosperus
Strategic RE Fund are to be issued shortly after the closing of acquisition of
North Star, expected on or around 11 October 2019.
The issue price of the new units is EUR 1.3253 corresponding to latest net asset
value per unit.
As a result of the new issues of units, the total number of Baltic Horizon Fund
units registered in the Estonian Register of Securities will increase from
100,915,202 to 113,387,525.
Northern Horizon Capital AS intends to list the new units on the Nasdaq Tallinn
and Nasdaq Stockholm Stock Exchange, with the first trading day of the units
issued on 4 October 2019 on Nasdaq Tallinn expected to be on or around 7 October
2019, and on Nasdaq Stockholm on or around 8 October 2019. The first trading day
of units issued to UAB Prosperus Strategic RE Fund on Nasdaq Tallinn is expected
to be on or around 14 October.
For additional information, please contact:
Tarmo Karotam
Baltic Horizon Fund manager
E-mail tarmo.karotam@nh-cap.com (mailto:tarmo.karotam@nh-cap.com)
(mailto:tarmo.karotam@nh-cap.com)www.baltichorizon.com
(http://www.baltichorizon.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,
www.baltichorizon.com
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