In addition to significant support from existing shareholders, the transaction attracted strong interest from Tier 1 institutional investors. As part of the transaction NOVELDA has provided a board resolution to initiate a process towards a listing of the company’s shares on the Oslo Stock Exchange within 12 months.

The net proceeds from the private placement will be used to finance further development of the company’s technology, scaling of the company’s organization and general corporate purposes.

The Arntzen de Besche deal team consisted of Henrik Braavold Johansen, Knut Martinsen and Christopher Hestnes.