Thistle Seafoods owner buys into seafood derivatives business Hofseth BioCare

Hofseth announced on the Oslo Stock Exchange at the weekend a private placement of between NOK 125 million and NOK 175 million (£9.6m and £13.4m) new shares.

 

Hofseth said today that it was “pleased to announce that the Board of Directors has now allotted 111,154,608 offer shares at the offer price, corresponding to gross proceeds of approximately NOK 144.5 million” (£11m).

 

The offer shares will be settled with a combination of cash and conversion of receivables towards the company, of which offer shares for an amount of approximately NOK 66.5 million will be settled through the conversion of receivables towards the company.

 

Scatterty Holdings Ltd has been allocated 38,461,538 offer shares for a total subscription amount of approximately NOK 50 million (£4.1m).

 

Scatterty is the owner of Thistle Seafoods, a Scottish seafood processing and distribution company headquartered in Peterhead, Aberdeenshire.

 

Other major purchasers include Hofseth International, Klaus Küttner, and the Galaxy Group.

 

Hofseth BioCare is a Norwegian biotech company that upcycles fresh Atlantic salmon off-cuts into premium nutritional products, pharmaceuticals, and pet supplements. It operates as the biotech division of Hofseth International (often referred to as the Hofseth Group). Both companies were founded by Roger Hofseth, and they share a symbiotic relationship where Hofseth International supplies the salmon off-cuts that Hofseth BioCare transforms into health and nutritional products.

 

Hofseth BioCare said that the net proceeds of the private placement will be used for growth capital, strengthening of the balance sheet and for general corporate purposes.