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Hofseth Biocare ASA: SUCCESSFUL PLACEMENT OF NEW CHF-DENOMINATED UNSECURED BONDS
Globenewswire· 2025-05-05 07:00
Group 1: Bond Issuance - The company has successfully placed CHF-denominated unsecured bonds totaling approximately CHF 3.5 million, subscribed by investors in Switzerland and Liechtenstein [2] - The settlement of the bond issue is expected to occur on 5 May 2025, and the bonds will not be listed on any stock exchange or trading venue [2] - The bonds have a term of three years, maturing on 30 April 2028, with an interest rate of 10% per annum and quarterly interest payments starting on 30 September 2025 [3] Group 2: Corporate Purpose and Financial Details - The net proceeds from the bond issuance will be used for general corporate purposes [2] - The bonds are callable at par value at quarterly intervals, with the first call option available on 30 June 2026 [3] Group 3: Company Overview - Hofseth BioCare ASA is a Norwegian consumer and pet health company focused on sustainability and optimal utilization of natural resources [3] - The company upcycles side streams of the salmon industry into health-improving ingredients such as ProGo®, OmeGo®, and CalGo® / NT-II((TM)) [3][4] - Hofseth BioCare emphasizes scientific evidence and has established academic partnerships to identify unique health benefits, including improved iron metabolism and immune health [4] Group 4: Research and Development - The company has received patents for its discoveries and has spun out a biotech-focused company, HBC Immunology, which is developing therapeutics for prostate and ovarian cancer, as well as a therapy for asthma [4]