NORBIT ASA - Closing of NORBIT's acquisition of the maritime technology company Innomar

NORBIT " or the " Company ") acquisition of 100 per cent of the equity interest in the technology company INNOMAR Technologie GmbH (" Innomar "), the market leader in the field of sub-bottom profilers in the maritime industry.The transaction has today successfully closed, and the EUR 34.9 million cash portion of the purchase price has been settled. The remaining EUR 4.8 million was settled by the board of directors of NORBIT resolving to issue a total 726,272 consideration shares to the...

Trondheim, 12/07/2024 (informazione.it - comunicati stampa - scienza e tecnologia)

NORBIT " or the " Company ") acquisition of 100 per cent of the equity interest in the technology company INNOMAR Technologie GmbH (" Innomar "), the market leader in the field of sub-bottom profilers in the maritime industry.

The transaction has today successfully closed, and the EUR 34.9 million cash portion of the purchase price has been settled. The remaining EUR 4.8 million was settled by the board of directors of NORBIT resolving to issue a total 726,272 consideration shares to the founding management of Innomar at a per share subscription price equal  to the subscription price in the private placement completed on 2 July 2024 (NOK 77 per share). A lock-up period of 24 months for the founding management of Innomar will commence today.

Following registration of the share capital increase relating to the issuance of the consideration shares to the founding management of Innomar, NORBIT's share capital will be increased by NOK 72,627.20 from NOK 6,279,749.10 to NOK 6,352,376.30, consisting of 63,523,763 shares, each with a par value of NOK 0.10.

NORBIT's acquisition of Innomar will for accounting purposes be effective as of 1 July 2024.

For further queries, please contact:

Per Jørgen Weisethaunet, CEO, +47 959 62 915
Per Kristian Reppe, CFO, +47 900 33 203

About NORBIT:

NORBIT is a global provider of tailored technology to selected applications, solving challenges and promoting sustainability through innovative solutions, in line with its mission to Explore More. The company is structured in three business segments to address its key markets: Oceans, Connectivity and Product Innovation & Realization. The Oceans segment delivers tailored technology solutions to global maritime markets. The Connectivity segment provides wireless solutions for identification, monitoring and tracking. The Product Innovation & Realization segment offers R&D services, proprietary products, and contract manufacturing to key customers.  NORBIT is headquartered in Trondheim with manufacturing in Europe and North America, has around 500 employees, and a worldwide sales and distribution platform.

For more information: www.norbit.com