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.
