Baltic Horizon Fund Raises EUR 6.29 Million in Private Placement
Northern Horizon Capital AS, which manages the Baltic Horizon Fund, has successfully raised EUR 6.29 million through a private placement. This fundraising effort saw significant interest from institutional investors in selected regions across Europe.
Excitement Among Investors Fuels Funding Success
The recent funding round was met with considerable enthusiasm, as total investment requests far exceeded the maximum allocation set in the resolution. The general meeting of the Baltic Horizon Fund's investors, which facilitated this private placement, showcased the fund's strong position in the market and its appeal to investors. The newly issued units will account for less than 20% of the outstanding units that have been traded over the past 12 months.
Insights on the Private Placement Transaction
Northern Horizon Capital AS intends to issue a total of 23,927,085 new units, resulting in a gross value of EUR 6.29 million. The proceeds from this initiative will be strategically used to enhance existing real estate properties and to decrease the overall debt of the Baltic Horizon Fund’s portfolio.
Tarmo Karotam, the Fund Manager of Baltic Horizon, expressed his excitement: "We are thrilled by the strong interest in the private placement of new units. The capital we've received largely comes from various professional and institutional investors based in the Baltic region and Sweden. With these funds, our aim is to meet the fit-out requirements of our real estate assets and to strengthen the fund's financial stability by lowering its debt."
New Unit Pricing and Issuance Details
The new units will be priced at EUR 0.2631, based on the weighted average price of units traded on the Nasdaq Tallinn Stock Exchange during the 90-day period leading up to the closure of the private placement. This pricing approach ensures transparency and fairness within the issuance process.
The Future of Baltic Horizon Fund Units on the Stock Exchange
Once the new units are issued, the total number of registered Baltic Horizon Fund units will increase from 119,635,429 to 143,562,514. Northern Horizon Capital AS is eager to list these new units on the Nasdaq Tallinn Stock Exchange, with trading anticipated to begin around 20 September 2024. This listing will represent a significant step forward in fostering further growth and investor interest.
Contact Information for Inquiries
If you have questions or need more details about this private placement and the Baltic Horizon Fund, please reach out to the Fund Manager:
Tarmo Karotam
Baltic Horizon Fund Manager
Email: tarmo.karotam@nh-cap.com
Website: www.baltichorizon.com
About Baltic Horizon Fund
Baltic Horizon Fund is a registered contractual public closed-end real estate fund, managed by Northern Horizon Capital AS, which holds an Alternative Investment Fund Manager license. Both the fund and the management company operate under the regulations of the Estonian Financial Supervision Authority, ensuring compliance and transparency in all their activities.
Frequently Asked Questions
How much money was raised in the private placement?
The Baltic Horizon Fund successfully raised EUR 6.29 million through this private placement.
Who were the main investors in the new units?
The new units were primarily acquired by various institutional investors from the Baltic and Swedish regions.
What will the funds be used for?
The funds will be directed toward investing in current real estate properties and reducing the fund's overall debt.
When will the new units start trading?
Trading for the new units on the Nasdaq Tallinn Stock Exchange is expected to commence on or around 20 September 2024.
What is the price of the new units?
The new units will be priced at EUR 0.2631, which reflects the weighted average price from the previous 90 days.
