Green Hydrogen Systems successfully obtains full subscription for rights issue, raising gross proceeds of DKK 469m (EUR 62.97m) through the issuance of 104.3 million new shares.

This was announced by Green Hydrogen Systems on Tuesday morning after the announcement of the capital increase on June 13.

In addition to the new share capital, Green Hydrogen Systems will have access to loan facilities totaling DKK 250 million from two of the company’s major shareholders, ATP and APMH Invest.

In total, the capital increase resulted in the targeted full amount of DKK 719m.

”The gross proceeds from the rights issue and the term loans provide the capital and the financial flexibility to continue executing our growth strategy towards our medium-term targets,” says CEO Sebastian Koks Andreassen.

The company states that 96.5% of the new shares were subscribed for through pre-emptive rights, while demand for the remaining new shares was four times higher than supply.

The share issue is expected to close on July 6. The new shares are expected to be admitted to trading on Nasdaq Copenhagen no later than July 10 and the new shares are expected to be merged with the old shares the following day.