Open main menu
Visit Website
Sign Up

Norcod's Follow-Up Offering Raises $230,000

Norwegian cod aquaculture firm Norcod has secured NOK 2.5 million (USD 233,000, EUR 215,000) through a subsequent offering following a prosperous private placement.

TradoublesTradoubles

•

•

Norcod's Follow-Up Offering Raises $230,000
Do not index
Do not index
Norwegian cod aquaculture company Norcod has completed a subsequent offering, generating NOK 2.5 million (USD 233,000, EUR 215,000) by selling 208,828 shares at NOK 12 (USD 1.11, EUR 1.03) per share over a two-week subscription period. Acting as bookrunner was ABG Sundal Collier, with legal counsel provided by Advokatfirmaet Haavind, in line with previous transactions conducted by Norcod.
This offering followed a private placement announced in Norcod's Q4 2023 results, aiming to secure working capital and cover higher-than-expected operational expenses. Initially targeting between NOK 100 million to NOK 150 million (USD 9.3 million to USD 13.9 million, EUR 8.6 million to EUR 12.9 million), Norcod ultimately raised NOK 170 million (USD 15.8 million, EUR 14.6 million). Among the investors in the private placement was High Liner Foods, based in Lunenburg, Nova Scotia, Canada, with a USD 5 million (EUR 4.6 million) investment.
CEO Christian Riber expressed satisfaction with the private placement's execution and the raised capital, emphasizing investor confidence in Norcod's strategic direction and growth potential. Riber noted that the subsequent offering aimed to provide smaller investors an opportunity to participate, as the minimum investment requirement in the main offering was EUR 100,000 (USD 108,000), limited to existing shareholders.
Despite falling short of its target, Norcod's subsequent offering aligns with trends in the seafood industry, where similar offerings from land-based salmon farming companies have also faced challenges. It's common on the Oslo Børs for subsequent offerings to not fully subscribe across various industries. For instance, Aqua Bio Technology, specializing in skincare products, concluded a subsequent offering in February that was undersubscribed.
Tradoubles

Written by

Tradoubles

Tradoubles is a cross-border seafoods marketplace. We help you source the best seafood suppliers from asian countries.

    Related posts

    Op-ed: Marine protected areas in British Columbia only good for bragging rightsOp-ed: Marine protected areas in British Columbia only good for bragging rights
    TradoublesTradoubles

    /

    Op-ed: Marine protected areas in British Columbia only good for bragging rights

    Renowned fisheries expert Ray Hilborn, holding a doctorate from the University of British Columbia and currently a professor at the University of Washington, is esteemed in the field. With numerous accolades and over 300 papers in scientific journals, Hilborn's expertise is widely recognized. In British Columbia, marine fisheries not only provide seafood but also support employment and coastal communities. However, the industry faces criticism and demands for action despite its contributions. Hilborn highlights these complexities in the ongoing discourse surrounding British Columbia's fisheries.

    Illuminating Shrimp Trends Through Data Analysis: Shedding Light on Industry InsightsIlluminating Shrimp Trends Through Data Analysis: Shedding Light on Industry Insights
    TradoublesTradoubles

    /

    Illuminating Shrimp Trends Through Data Analysis: Shedding Light on Industry Insights

    Amidst the Salmon Industry's Beneficial Utilization of Data Analysis, Challenges Persist in Forecasting Shrimp Harvests Due to Sector Volatility and Fragmentation

    Scottish Salmon Farmers Remove 23 Tonnes of Beach Debris in Cleanup EffortScottish Salmon Farmers Remove 23 Tonnes of Beach Debris in Cleanup Effort
    TradoublesTradoubles

    /

    Scottish Salmon Farmers Remove 23 Tonnes of Beach Debris in Cleanup Effort

    Scottish Salmon Farmers Volunteer to Clear Over 23 Tonnes of Beach Litter in Coastal Pollution Initiative

    Scout Canning Co-Founder Charlotte Langley Departs, Launches Consumer Branding VentureScout Canning Co-Founder Charlotte Langley Departs, Launches Consumer Branding Venture
    TradoublesTradoubles

    /

    Scout Canning Co-Founder Charlotte Langley Departs, Launches Consumer Branding Venture

    Charlotte Langley, who co-founded Scout Canning in Toronto, Canada, has parted ways with the canned seafood company to embark on a new venture. She is now launching Langley Foods, a consumer foods branding firm.

    Could Giant River Prawns Revitalize Bangladesh’s Aquaculture Industry?Could Giant River Prawns Revitalize Bangladesh’s Aquaculture Industry?
    TradoublesTradoubles

    /

    Could Giant River Prawns Revitalize Bangladesh’s Aquaculture Industry?

    Shifting towards cultivating giant river prawns is demonstrating economic viability for an increasing portion of Bangladesh's aquaculture operators, although the industry continues to face hurdles that need addressing.

    Petition Urges Opening California MPAs for SwordfishingPetition Urges Opening California MPAs for Swordfishing
    TradoublesTradoubles

    /

    Petition Urges Opening California MPAs for Swordfishing

    Blake Herman, a fisherman, is actively pursuing swordfish off the coast of California and seeks permission to access the state's marine protected areas near the Santa Cruz and Santa Barbara islands.

    Dean Pinkert Urges U.S. Shrimp Buyers to Scrutinize Indian Supply Chains, Citing CAL InitiativeDean Pinkert Urges U.S. Shrimp Buyers to Scrutinize Indian Supply Chains, Citing CAL Initiative
    TradoublesTradoubles

    /

    Dean Pinkert Urges U.S. Shrimp Buyers to Scrutinize Indian Supply Chains, Citing CAL Initiative

    In November 2021, Dean Pinkert, former Commissioner at the U.S. International Trade Commission, joined the Corporate Accountability Lab, headquartered in Chicago, Illinois, U.S.A., as a special advisor. His involvement comes in the wake of the release of the report 'Hidden Harvest: Human Rights and Environmental Abuses in India’s Shrimp Industry,' co-authored by Pinkert and published on March 20. The report exposes labor violations across various sectors of India's shrimp industry, along with environmental concerns such as mangrove destruction and water contamination attributed to shrimp farm operations.

    Blue Star seeks dismissal of Red Lobster breach of contract lawsuitBlue Star seeks dismissal of Red Lobster breach of contract lawsuit
    TradoublesTradoubles

    /

    Blue Star seeks dismissal of Red Lobster breach of contract lawsuit

    In a recent court filing in Orange County Circuit Court in Orlando, Florida, U.S.A., Blue Star Foods has requested the dismissal of Red Lobster's breach of contract lawsuit.

    Advancements in Bering Sea Gear Modifications by Alaska Seafood Cooperative; GDST Unveils Fresh WebsiteAdvancements in Bering Sea Gear Modifications by Alaska Seafood Cooperative; GDST Unveils Fresh Website
    TradoublesTradoubles

    /

    Advancements in Bering Sea Gear Modifications by Alaska Seafood Cooperative; GDST Unveils Fresh Website

    Advancements in Alaska Seafood Cooperative's Bering Sea Gear Modifications; GDST Launches Updated Website

    Experts at SEG Panel Propose Strategies for Cultivating Future Seafood ConsumersExperts at SEG Panel Propose Strategies for Cultivating Future Seafood Consumers
    TradoublesTradoubles

    /

    Experts at SEG Panel Propose Strategies for Cultivating Future Seafood Consumers

    Barcelona Hosts 2023 Seafood Expo Global: Live Panel Discussions Highlight Key Industry Concerns

    Pacific Seafood and Atlantic Sea Farms Secure Prestigious Supplier Awards from Whole FoodsPacific Seafood and Atlantic Sea Farms Secure Prestigious Supplier Awards from Whole Foods
    TradoublesTradoubles

    /

    Pacific Seafood and Atlantic Sea Farms Secure Prestigious Supplier Awards from Whole Foods

    Whole Foods Market Honors Pacific Seafood and Atlantic Sea Farms in Supplier All-Star Awards 2023

    SEG Panel Launches Global Dialogue on Seafood Traceability ImplementationSEG Panel Launches Global Dialogue on Seafood Traceability Implementation
    TradoublesTradoubles

    /

    SEG Panel Launches Global Dialogue on Seafood Traceability Implementation

    Barcelona Hosts 2023 Seafood Expo Global: Live Panel Events Highlight Vital Industry Topics

    Research Reveals Presence of PFAs Found in SeafoodResearch Reveals Presence of PFAs Found in Seafood
    TradoublesTradoubles

    /

    Research Reveals Presence of PFAs Found in Seafood

    Study in New Hampshire Identifies PFAS in Commonly Consumed Seafood Species

    SEG Panel Unveils Rights-Based Tools to Identify and Combat Forced Labor in Fishing IndustrySEG Panel Unveils Rights-Based Tools to Identify and Combat Forced Labor in Fishing Industry
    TradoublesTradoubles

    /

    SEG Panel Unveils Rights-Based Tools to Identify and Combat Forced Labor in Fishing Industry

    At the 2023 Seafood Expo Global, held from April 25 to 27 in Barcelona, Spain, a robust conference program offered live panel discussions centered on pressing issues relevant to the seafood industry.

    Seafood Expo North America 2024 Attracts 19,780 Attendees, Showcasing 5% Increase in Exhibition SpaceSeafood Expo North America 2024 Attracts 19,780 Attendees, Showcasing 5% Increase in Exhibition Space
    TradoublesTradoubles

    /

    Seafood Expo North America 2024 Attracts 19,780 Attendees, Showcasing 5% Increase in Exhibition Space

    42nd Seafood Expo North America Held in Boston, Massachusetts, Attracts Over 19,780 Industry Professionals and Expands Exhibit Space by 5% Compared to 2023, Reports Diversified Communications

    Global Retail Seafood Trends Unveiled by SEG PanelGlobal Retail Seafood Trends Unveiled by SEG Panel
    TradoublesTradoubles

    /

    Global Retail Seafood Trends Unveiled by SEG Panel

    Barcelona Hosts 2023 Seafood Expo Global with Focus on Industry Vitality.

    Revolutionizing Seafood Quality Control: Research Project Unveils Breakthrough MethodsRevolutionizing Seafood Quality Control: Research Project Unveils Breakthrough Methods
    TradoublesTradoubles

    /

    Revolutionizing Seafood Quality Control: Research Project Unveils Breakthrough Methods

    Introducing a pioneering research endeavor: embarking on innovative methodologies to uphold impeccable standards in fish product quality assurance. This project sets its sights on guaranteeing excellence, sustainability, and meticulous traceability across the aquaculture sector.

    Nestlé Purina Partners with Global Sustainable Seafood InitiativeNestlé Purina Partners with Global Sustainable Seafood Initiative
    TradoublesTradoubles

    /

    Nestlé Purina Partners with Global Sustainable Seafood Initiative

    Nestlé Purina, a leading multinational pet food company, announces its partnership with the Global Sustainable Seafood Initiative (GSSI) as a funding partner.

    Insights from 2023 SEG Panel: Equitable Supply Chains in Blue Swimming Crab and Mahi, Drawing from Cocoa Industry LessonInsights from 2023 SEG Panel: Equitable Supply Chains in Blue Swimming Crab and Mahi, Drawing from Cocoa Industry Lesson
    TradoublesTradoubles

    /

    Insights from 2023 SEG Panel: Equitable Supply Chains in Blue Swimming Crab and Mahi, Drawing from Cocoa Industry Lesson

    "Seafood Expo Global 2024 Set to Showcase Extensive Conference Program in Barcelona, Spain" The upcoming Seafood Expo Global 2024, scheduled from April 23rd to 25th in Barcelona, Spain, promises a robust conference lineup. Organized by Diversified Communications, the event will host over 90 renowned international seafood experts across 25 educational sessions. Topics will span critical areas including labor rights, traceability, feed innovation, aquaculture, sustainability, equipment, and artificial intelligence (AI).

    Aquatech's Partnership Targets Circular Economy in Salmon FarmingAquatech's Partnership Targets Circular Economy in Salmon Farming
    TradoublesTradoubles

    /

    Aquatech's Partnership Targets Circular Economy in Salmon Farming

    New Partnership Seeks to Expand Market Opportunities for Smallest Fish in Scottish Salmon Farming Industry, Enhancing Circular Economy

    Korean Oysters Implicated in California Norovirus Outbreak; Herold’s Issues Recall for Seafood SaladsKorean Oysters Implicated in California Norovirus Outbreak; Herold’s Issues Recall for Seafood Salads
    TradoublesTradoubles

    /

    Korean Oysters Implicated in California Norovirus Outbreak; Herold’s Issues Recall for Seafood Salads

    The U.S. Food and Drug Administration has alerted restaurants and retailers regarding specific raw oysters originating from the Republic of Korea, following a series of norovirus illnesses reported in California.

    Largest-Ever Edition of Seafood Expo Global Held in 2024Largest-Ever Edition of Seafood Expo Global Held in 2024
    TradoublesTradoubles

    /

    Largest-Ever Edition of Seafood Expo Global Held in 2024

    Attendance figures for the 2024 Seafood Expo Global/Seafood Processing Global indicate a record-breaking turnout, with over 35,000 seafood professionals convening over three days in Barcelona, Spain. This milestone marks the highest total in the event's history.

    Wells Fargo Seeks Receivership for Peter Pan Seafoods in Legal MoveWells Fargo Seeks Receivership for Peter Pan Seafoods in Legal Move
    TradoublesTradoubles

    /

    Wells Fargo Seeks Receivership for Peter Pan Seafoods in Legal Move

    In a significant development, Wells Fargo Bank, the primary creditor of troubled Peter Pan Seafoods, has submitted a legal petition to place the company under receivership.

    Red Lobster Suppliers StrandedRed Lobster Suppliers Stranded
    TradoublesTradoubles

    /

    Red Lobster Suppliers Stranded

    Red Lobster's Suppliers Face Delays in Payments, Exceeding 48-Day Delinquency.

    Canadian Seafood Marketing Campaign Nationwide PausedCanadian Seafood Marketing Campaign Nationwide Paused
    TradoublesTradoubles

    /

    Canadian Seafood Marketing Campaign Nationwide Paused

    Canada's Nationwide Seafood Marketing Campaign, "Choose Canadian Seafood," Halted as Federal Funding Expires

    Lerøy Innovates with New Salmon Blood-Based Health SupplementLerøy Innovates with New Salmon Blood-Based Health Supplement
    TradoublesTradoubles

    /

    Lerøy Innovates with New Salmon Blood-Based Health Supplement

    Lerøy, a leading global salmon farming company, asserts it is nearing a breakthrough in utilizing a previously overlooked resource: salmon blood.

    Financing agreement aims to boost Mozambique artisanal fishery effortsFinancing agreement aims to boost Mozambique artisanal fishery efforts
    TradoublesTradoubles

    /

    Financing agreement aims to boost Mozambique artisanal fishery efforts

    Mozambique recently formalized a significant partnership with the International Fund for Agricultural Development (IFAD), sealing a financing agreement totaling USD 63 million (EUR 57.6 million). This collaborative effort aims to bolster the livelihoods of artisanal fishers along Mozambique's extensive East African coastline.

    Record-Breaking Attendance Marks 2024 Seafood Expo GlobalRecord-Breaking Attendance Marks 2024 Seafood Expo Global
    TradoublesTradoubles

    /

    Record-Breaking Attendance Marks 2024 Seafood Expo Global

    The recently concluded 2024 Seafood Expo Global/Seafood Processing Global in Barcelona, Spain, witnessed an unprecedented gathering of over 35,000 seafood industry experts over its three-day duration, setting a new attendance record for the event.

    Indonesian Fisheries Expo Sets Sights on Global PlatformIndonesian Fisheries Expo Sets Sights on Global Platform
    TradoublesTradoubles

    /

    Indonesian Fisheries Expo Sets Sights on Global Platform

    In anticipation of the Indo Fisheries Expo and Forum 2024, representatives from the Indonesian seafood industry showcased the upcoming event during the Seafood Expo Global in Barcelona from April 23 to 25, 2024.

    Trident Seafoods Divests Ketchikan Facility; Pickenpack's European Arm Returns to Russian Pollock ProcurementTrident Seafoods Divests Ketchikan Facility; Pickenpack's European Arm Returns to Russian Pollock Procurement
    TradoublesTradoubles

    /

    Trident Seafoods Divests Ketchikan Facility; Pickenpack's European Arm Returns to Russian Pollock Procurement

    In a recent development, Trident Seafoods' European subsidiary, Pickenpack, has announced its return to purchasing pollock sourced from Russia. Acquired by Trident Seafoods in 2016 following its bankruptcy in 2015, Pickenpack Vertriebs is based in Seattle, Washington, U.S.A., and is known as one of the leading global suppliers of Alaska pollock.

    Mascato Expands Product Range, Aims to Integrate Seafood into Daily Consumption HabitsMascato Expands Product Range, Aims to Integrate Seafood into Daily Consumption Habits
    TradoublesTradoubles

    /

    Mascato Expands Product Range, Aims to Integrate Seafood into Daily Consumption Habits

    Established in 1994, Mascato, headquartered in Vigo, Spain, has evolved from a modest family enterprise into a global leader specializing in various seafood products. With a workforce exceeding 1,500 individuals across multiple nations, Mascato stands as a multinational seafood specialist.

    Research on Kiribati Seafood Access Offers Insights for Global Food Security AnalysisResearch on Kiribati Seafood Access Offers Insights for Global Food Security Analysis
    TradoublesTradoubles

    /

    Research on Kiribati Seafood Access Offers Insights for Global Food Security Analysis

    New Study Highlights Fragility of Food Security in Small Island Developing Nations Amidst Growing Climate Change Concerns