REC - emisjon til kurs 10,80

Sa2ri
REC 14.10.2020 kl 17:06 21199

REC Silicon - Ny nyhet i kategori ALL 14.10.2020 17:01

14.10.2020 17:01:45: REC Silicon - Contemplated Private Placement

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.




Lysaker, 14 October 2020.

REC Silicon ASA (the "Company") has retained Arctic Securities AS and Pareto Securities AS (the "Managers") to advise on and effect a private placement (the "Private Placement") of new shares (the "Offer Shares") raising gross proceeds of up to NOK 1,000 million. The price per share in the Private Placement has been set to NOK 10.80 (the "Offer Price").

The net proceeds from the Private Placement will be used to fund expansion investments and activities at the Companys facilities in Butte and Moses Lake as well as for general corporate purposes. Upon completion of the Private Placement, the Company will have established an extended liquidity runway which may enable the Company to prepare for a restart of the Moses Lake plant to be decided and funded during H2 2021. Such restart is targeted in 2022 on the back of expected continuation of positive developments currently seen in both the solar energy and battery markets where the Company believes that it is positioned to become a leading US provider of silane and polysilicon.

Two cornerstone investors have undertaken to apply for and will be allocated shares for a minimum of NOK 450 million at the Offer Price as follows: (i) Aker Capital AS, the Company's largest shareholder for NOK 300 million in the Private Placement, and (ii) DNB Asset Management for NOK 150 million in the Private Placement.

The bookbuilding period for the Private Placement commences today 14 October 2020 at 16:30 CEST and is expected to close on 15 October 2020 at 08:00 CEST. The Company, after consultation with the Managers, reserves the right to at any time and in its sole discretion close or extend the bookbuilding period or to cancel the Private Placement in its entirety and for any reason. If the bookbuilding is shortened or extended, the other dates referred to herein may be changed correspondingly.

The Private Placement consists of two separate tranches; one tranche ("Tranche 1") will comprise up to 27,982,000 Offer Shares, and a second tranche with up to 64,610,592 new shares ("Tranche 2"). The completion of Tranche 1 is subject to approval by the Company's board of directors pursuant to an authorization granted by the Company's annual general meeting held on 12 May 2020. The completion of Tranche 2 is subject to the approval by an extraordinary general meeting in the Company, expected to be held on or about 9 November 2020 (the "EGM") to be called for shortly after the conditional allocation in the Private Placement. The completion of the Private Placement is further conditional upon the Offer Shares having been fully subscribed, paid and legally issued. Completion of Tranche 1 is not conditional upon completion of Tranche 2, and acquisition of Offer Shares under Tranche 1 will remain final and binding and cannot be revoked or terminated by the respective applicants if Tranche 2 is not completed.

Allocation of the Offer Shares will be determined by the end of the bookbuilding process, and the final allocation will be made by the Company's Board of Directors at its sole discretion, in consultation with the Managers. Notification of allocation and payment instructions is expected to be issued by the Managers to the applicants on or about 15 October 2020. The Company will announce the final number of Offer Shares placed in the Private Placement in a stock exchange announcement expected to be published before opening of trading on the Oslo Stock Exchange tomorrow 15 October 2020.



Settlement of Offer Shares in Tranche 1 is expected to be on or about 19 October 2020 (DVP, T+2) while settlement in Tranche 2 is expected to occur on or about 12 November 2020 following approval by the EGM. The investors who have been allocated Offer Shares, will receive a pro rata portion of shares from Tranche 1 and Tranche 2 based on their overall allocation in the Private Placement, with the exception of Aker Capital AS who have agreed that the new shares it is allocated in the Private Placement will all be allocated in Tranche 2. The Offer Shares will be settled with existing and unencumbered shares in the Company that are already listed on the Oslo Stock Exchange pursuant to a share lending agreement between Arctic Securities AS (on behalf of the Managers), the Company and Aker Capital AS as lender. The new shares re-delivered to Aker Capital AS in Tranche 2 will be issued on a separate ISIN and will not be tradable on Oslo Børs until a listing prospectus has been approved by the Financial Supervisory Authority of Norway, expected December 2020.

The Private Placement will be directed towards Norwegian and international investors, subject to applicable exemptions from relevant registration, filing and prospectus requirements, and subject to other applicable selling restrictions. The minimum application and allocation amount have been set to the NOK equivalent of EUR 100,000. The Company may however, at its sole discretion, allocate amounts below EUR 100,000 to the extent exemptions from the prospectus requirements in accordance with applicable regulations, including the Norwegian Securities Trading Act and ancillary regulations, are available.

The Companys board of directors has considered alternative structures for the raising of new equity. Following careful considerations, the Companys board of directors is of the view that it will be in the mutual interest of the Company and its shareholders to raise equity through a private placement setting aside the pre-emptive rights of the shareholders. By structuring the transaction as a private placement, the Company will be in a position to raise capital in an efficient manner, with a lower discount to the current trading price and with significantly lower risks compared to a rights issue. In addition, the Private Placement is subject to marketing through a pre-sounding process in order to achieve a market based subscription price.

Subject to successful completion of the Private Placement, the Companys board of directors may consider to carry out a subsequent repair offering of new shares in the Company directed towards existing shareholders in the Company as of 14 October 2020 (as registered in the VPS 16 October 2020) who were not allocated Offer Shares in the Private Placement and who are not resident in a jurisdiction where such offering would be unlawful, or would (in jurisdictions other than Norway) require any prospectus filing, registration or similar action.



Additional information regarding the Private Placement is included in the attached presentation, which sets out also preliminary third quarter highlights of the Company.

Arctic Securities AS and Pareto Securities AS are engaged as managers and joint bookrunners in the Private Placement. Advokatfirmaet Schjødt AS is acting as legal counsel to the Company in connection with the Private Placement. Advokatfirmaet Thommessen AS is acting as legal advisor to the Managers in connection with the Private Placement.

For further information, please contact:

James A. May II, Chief Financial Officer

Phone: +1 509 989 1023

Email: james.may@recsilicon.com

Nils O. Kjerstad

IR Contact

Phone: +47 9135 6659

Email: nils.kjerstad@crux.no

About the company:

REC Silicon is a leading producer of advanced silicon materials, delivering high-purity polysilicon and silicon gas to the solar and electronics industries worldwide. We combine over 30 years of experience and proprietary technology with the needs of our customers, with annual production capacity of more than 20,000 MT of polysilicon from our two US-based manufacturing plants. Listed on the Oslo Stock Exchange (ticker: REC), the Company is headquartered in Lysaker, Norway. For more information, please visit: www.recsilicon.com

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

This announcement is not and does not form a part of any offer to sell, or a solicitation of an offer to purchase, any securities of the Company. Copies of this announcement are not being made and may not be distributed or sent into any jurisdiction in which such distribution would be unlawful or would require registration or other measures.

The securities referred to in this announcement have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and accordingly may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and in accordance with applicable U.S. state securities laws. The Company does not intend to register any part of the offering in the United States or to conduct a public offering of securities in the United States. Any sale in the United States of the securities mentioned in this announcement will be made solely to "qualified institutional buyers" as defined in Rule 144A under the Securities Act.

In any EEA Member State, this communication is only addressed to and is only directed at qualified investors in that Member State within the meaning of the Prospectus Regulation, i.e., only to investors who can receive the offer without an approved prospectus in such EEA Member State. The expression "Prospectus Regulation" means Regulation (EU) 2017/1129 as amended (together with any applicable implementing measures in any Member State.

https://newsweb.oslobors.no/message/515442
Redigert 14.10.2020 kl 17:07 Du må logge inn for å svare

Har du en kvalifisert gjetning på hvor mange rettigheter som kan tildeles oss småfolket i denne rep.emisjonen, fattigstakker? Er vel ganske mange lykkejegere og småspekulanter som skal knive om disse.
BørsMR
15.10.2020 kl 23:23 2635

Om det ikke lønner seg så kjøper du ikke emisjonsaksjene uansett 😜
Og du har vel krav på ca 10 % av beholdningen din, så kan du overtegne så mye du vil men du får neppe mer enn 1-5 % ekstra
Redigert 15.10.2020 kl 23:25 Du må logge inn for å svare

Er det banna bein at en rep emi kommer? Og blir den da til samme kurs som den retta emisjonen, 10,80? Og kan en i teorien da selge aksjer nå til pris over dette for så å kjøpe seg inn igjen?
Redigert 17.10.2020 kl 19:47 Du må logge inn for å svare

Rep emi kommer garantert, den blir satt på kurs 10.80 ja. Jeg mener å ha lest at man får 10% av beholdningen du hadde den 14.10. Du må gjerne prøve å overtegne, men ikke forvent å få mye over det du har evt blitt tildelt. Kan godt hende kursen må ned til 10.80 for å tette gap, men der nede blir nok ikke kursen lenge. Mange som solgte alt for tidlig og vil inn igjen tror jeg. Så her gjelder det egentlig å holde på akskene, det gjør jeg hvertfall. Har et snitt på 3.8kr. Dette er bare startskuddet for REC sin himmelferd. Faller den til 10.80 så ligger jeg klar med kjøp!
Redigert 17.10.2020 kl 20:36 Du må logge inn for å svare

Hvis du er ute etter å realisere en pen gevinst så kan du evt selge 1/3 eller halve beholdningen du har for å sikre pengene. Dette har jeg personlig prøvd tidligere, og jeg angrer som regel da jeg nesten alltid selger meg ut for tidlig. Det er uhyre vanskelig å time topp og bunn.
Redigert 17.10.2020 kl 20:52 Du må logge inn for å svare

På mandag kan det være lurt og følge litt med de største aksjonerer i Rec, jeg tror det er mange som vil inn på dagens nivå. KLP og andre store kan gå inn på mandag.

Dean Zuzic har forresten økt sin beholdning med 925.000 aksjer ifølge aksjonærlister. De store fyller på, mens redde småaksjonærer selger seg billig.

Han er nå sjette største eier i REC
Redigert 17.10.2020 kl 20:55 Du må logge inn for å svare
StevenG
17.10.2020 kl 20:57 1636

Blir det noe gevinstsikring mandag?

Er ikke gevinstsikring tatt allerede?
tommy1e
17.10.2020 kl 21:06 1560

Denne referansen er gjentatt til det kjedsommelige. Ekstrem hausing på Rec trådene i kveld. Kan tyde på at det er mange som er ekstremt nervøse for sine Rec beholdninger i disse dager og vil ut med hyggelig gevinst.
Til dere som er usikre på verdien til dette selskapet ; tenk sjølv. Ikke bli for grådige. Ikke la dere bli for mye påvirket av alle som
roper kjøp. De som er på dette forumet har alle sine egne agendaer.
Redigert 17.10.2020 kl 21:08 Du må logge inn for å svare

Selskapet ser jo ut til å ha stor verdi, isåfall peker alle piler den veien på lengre sikt. Har du noen andre formeninger?

Ja og den agendaen er å ikke selge seg for billig. Enkelt og greit. Kall det haus eller hva du vil. Mine aksjer får du ikke :)

Er det noe covid 19 har gjort, så er det å pushe det grønne skiftet. Startskuddet er avfyrt. Og REC ligger i en ekstremt bra posisjon til å ta en stor del av esg kaken.
Redigert 17.10.2020 kl 21:20 Du må logge inn for å svare
tommy1e
17.10.2020 kl 21:21 1471

Veldig mye er fortsatt tuftet på forventninger. Selskapet har hatt enorme tap siste årene. Konsernsjefen har i løpet av denne tiden ikke kjøpt en eneste aksje i dette selskapet. Avtalene som er kommunisert med samarbeidspartnere siste tiden er med aktører som har en lang vei å gå kommersielt. Selskapet taper fortsatt penger på driften.
Jeg håper det beste for Rec . Jeg sitter selv tungt lastet. Men føler at det som blir kommunisert på dette forumet er veldig ubalansert. Dessuten langt fra utenkelig at denne skal ned mot Emisjonskurs igjen allerede i uken som kommer. Kanskje lavere. Ingen kan gi garanti for at så ikke skjer.
Greit å ta med seg i betraktningene når de fleste andre her på forumet synes å være i en rus over siste ukers oppgang.
Redigert 17.10.2020 kl 21:32 Du må logge inn for å svare

Du må gjerne skrive ned diverse nedsider du vet om Tommy, jeg er ganske fersk i selskapet så opplys meg gjerne.

Jeg mener de meldingene rec har kommet med de siste ukene har redusert nedsiden kraftig.
tommy1e
17.10.2020 kl 21:41 1368

Helt enig Snasi.
Men om det forsvarer siste ukers voldsomme økning i verdsetting er jeg fortsatt litt usikker på. Håper markedet har rett 😊
doctor
17.10.2020 kl 22:14 1198

interessant artikkel på CNN i dag: *Forget silicon. This material could be a game-changer for solar power
By Adrian Lydon, CNN Business

Updated 1054 GMT (1854 HKT) October 14, 2020*

Perspektiv NEL prises til 27 milliarder inntekt ca 400 millioner.

Rec prises nå til 3,7 milliarder kommer omsetning på 3,6 -3,8 milliarder. På dagens kurs så vil de ha samme omsetning som hele selskapet er priset til. Det er veldig spesielt! Her skal det kjøpes først så kommer analytikerne skrikende

Må alltid regne over inntekter og pris på selskapet EPS disse tallene må dere se etter i selskaper. Analytikere kan man ikke stole på men tallene kan dere stole på.
Redigert 17.10.2020 kl 22:44 Du må logge inn for å svare

Perovskites til bruk i solpaneler er ikke dukket opp over natten, men sikkert interessant nok.
focuss
17.10.2020 kl 22:56 1002

Toxicity issues associated with the Pb content in perovskite solar cells impose strain on the public perception and acceptance of the technology[65]. The health and environmental impact of heavy toxic metals has been much debated in the case of CdTe solar cells, whose efficiency became industrially relevant in the 1990s. Although, CdTe is a thermally and chemically very stable compound with a low solubility product, Ksp, of 10−34 and, accordingly, its toxicity was revealed to be extremely low, rigorous industrial hygiene programmes[66] and recycling commitment programmes[67] have been implemented. In contrast to CdTe, hybrid perovskites are very unstable and easily degrade to rather soluble compounds of Pb or Sn with KSP=4.4×10−9, which significantly increases their potential bioavailability[68] and hazard for human health, as confirmed by recent toxicological studies.[69][70]. Although the 50 % lethal dose of lead [LD50(Pb)] is less than 5 mg per kg of body weight, health issues arise at much lower exposure levels. Young children absorb 4–5 times as much lead as adults and are most susceptible to the adverse effects of lead.[71] In 2003, a maximum blood Pb level (BLL) of 5 μg/dL was imposed by the World Health Organization (WHO),[71] which corresponds to the amount of Pb contained in only 5x5 mm2 of the perovskite solar module. Furthermore, the BLL of 5 μg/dL was revoked in 2010 after the discovery of decreased intelligence and behavioral difficulties in children exposed to even lower values.[72]
Rubin
17.10.2020 kl 22:57 992

Hvis det noen gang blir et aktuelt produkt å bruke, MÅ det kombineres med Silicon de neste tiårene. 👍
focuss
17.10.2020 kl 23:17 900

Verdiøkningen vi har sett i det siste er i stor grad 1 milliard med cash som er injisert i selskapet og enorme skattekrav som har blitt strøket.. Når det i tillegg er skrevet intensjonsavtaler med både Group 14 og Violet Power så er vel kursøkningen strengt tatt beskjeden.

Leser at Perovskites i kombinasjon har de oppnådd 28% effektivitet og kan teoretisk oppnå 40%

"Researchers at Oxford PV, a company spun out of the University of Oxford, made a major breakthrough in 2018. By coating silicon with perovskite they achieved 28% efficiency. The company believes it can eventually reach 40%, or higher."

Violet Power sier de har 24% effektivitet på sine paneler som er verdensledende. Og med 50 års garanti:

"Coming out of stealth-mode, US-based integrated PV panel manufacturing start-up, Violet Power intends to disrupt the PV industry with in-house production of high-efficiency IBC (Interdigitated Back Contact) solar cells. The company will use cell-to-module ‘flex circuit’ and thermal plastic encapsulant technology in a glass/glass configuration that will have a solar panel warranty of 50 years, more than three times the average in the industry, today.

US-headquartered SunPower, which manufacturers its high-efficiency IBC solar cells in Asia (Philippines and Malaysia), currently offers a 30-year warranty on its Maxeon Series panels, the highest in the industry.

PV Tech talked to Charlie Gay, PV industry technology veteran (more than 45 years) who has recently become the new CEO of Violet Power, about how the start-up intended to disrupt the PV manufacturing industry with solar panel technology that could financially justify offering a 50-year warranty.

The core of the solar cell technology comes from a collaboration with German-based R&D centre, ISC Konstanz and its head, Radovan Kopecek and his team. The ‘ZEBRA’ IBC cell, which was developed as a low-cost IBC cell architecture using front floating emitter (FFE) and screen-printed and fired-through metallization made on large-area 152.4mm n-type monocrystalline wafers has been further developed at Violet Power to include a ‘flex circuit’ (aluminium) backside cell to module contact technology coupled to thermal plastic encapsulant technology in a glass/glass configuration. Zebra IBC cell has been reported to have 24% plus conversion efficiencies."
Redigert 17.10.2020 kl 23:32 Du må logge inn for å svare