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Freyr Battery falls 11% after 13.5M share common stock offering

  • FREYR Battery (NYSE:FREY) falls 10.9% after market on announcing a public offering of 13.5M of its Ordinary Shares, without nominal value, in an underwritten registered public offering.
  • FREYR expects to grant the underwriters a 30-day option to purchase up to ~2.03M additional Ordinary Shares as part of this offering.
  • FREYR intends to use the net proceeds from this offering for the continued construction of Giga Arctic facilities, development expenditures for Giga America and for general corporate purposes.
  • FREY -10.92% after hours to $12.61.