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Agasti Holding ASA Invests in 70.8% of Wunderlich Investment Company, Inc. and Proposes Name Change to Agasti Wunderlich ASA; Updates on Private Placement-COMPLETE STORY


Monday, 27 May 2013 02:00am EDT 

Agasti Holding ASA announced that the Company has invested in 70.8% of Wunderlich Investment Company, Inc. (Wunderlich), establishing a Nordic/United States-based investment bank with joint operations within Capital Markets, Investment Management and Wealth Management. At the same time Agasti changes its name to Agasti Wunderlich ASA. The transaction will be completed by Agasti investing in 70.8% of the shares of Wunderlich from Coil Investment Group AS (Coil) and other shareholders with consideration in new issuance of Agasti-shares equal to 70.8% of total outstanding shares in Agasti. The transaction is based on an agreed upon an exchange ratio of 1:1 with the possibility of an additional consideration of up to 15% by achievement of certain key parameters within 2013 including also the share price development of the Agasti-shares after the presentation of fourth quarter figures for 2013. The Company also announced that on Friday, May 24, 2013, it raised NOK 54 million in gross proceeds through a private placement of 40 million new shares at a price of NOK 1.35 per share (the private placement). Agasti intends to conduct a subsequent repair offering of up to NOK 20 million towards shareholders that were not invited to participate in the private placement. The transaction, private placement and the subsequent offering are, inter alia, subject to approval by Agasti's Annual General Meeting, which has been postponed to June 26, 2013. 

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