The Norwegian-based Wilhelmsen New Energy AS (Wilhelmsen) has on March 5 exercised its remaining 44,707,373 warrants with a strike of NOK 3.28 per share (the Exercise) in the subsea operator Reach Subsea ASA.
The announced exercise of warrants will provide Reach Subsea ASA with approximately NOK 147 million in new equity to finance its growth initiatives, and increases Wilhelmsen’s ownership to approximately 30% of the share capital and votes.
Following the exercise, Wilhelmsen no longer holds any remaining warrants in the company, as it was stated by Reach Subsea.
Geir Flæsen, executive vice president Wilhelmsen, says that “Increasing our stake in Reach Subsea reinforces our commitment to this strategic investment and highlights the role we see Reach playing as a platform for future growth. As part of Wilhelmsen, this investment aligns with our ambition to shape the maritime industry and build viable, next-generation solutions.”
