Fugro announces it has successfully raised approximately EUR 116 million by issuing 10,319,036 new ordinary shares  at an offer price of EUR 11.25 per New Share through an accelerated bookbuilding. The Offer Price represents a discount of 5.1% to the last closing price prior to the start of the Offering.

The Offering represented approximately 10% of the Company’s issued and outstanding share capital.

The Company intends to use the net proceeds of the Offering, in conjunction with the previously disclosed new sustainability-linked bank financing arrangement, consisting of a EUR 200 million 3-year revolving credit facility and a EUR 200 million 3-year term loan to refinance existing indebtedness including a potential investor put of the 2024 Convertible Bond outstanding and for general corporate purposes.

Admission to listing and trading of the New Shares (on an “as-if-and-when-issued basis”) on Euronext Amsterdam is expected to take place on 28 July 2022. Delivery of the New Shares is envisaged for 28 July 2022. The New Shares will rank pari passu in all respects with the existing shares of the Company with the ISIN NL00150003E1.

No prospectus is required in respect of the Offering and no prospectus or similar document will be published in connection with the Offering.

In addition, the Company will repurchase EUR 9 million in principal amount of the outstanding subordinated convertible bonds due 2024 via a private transaction. Any 2024 Bonds repurchased will be cancelled in accordance with the terms and conditions of the 2024 Bonds.

Settlement of the repurchase is expected on or around 28 July 2022.