DLA Piper Norway advised Cloudberry in private placement
DLA Piper Norway acted as legal advisor to the Nordic renewable energy company Cloudberry Clean Energy (Cloudberry) in the NOK 600 million private placement of new shares that successfully closed on December 8, 2021.
The private placement attracted strong interest from high quality institutional investors in the Nordics and internationally.
Cloudberry will use the net proceeds from the private placement to finance acquisition and construction costs of the company’s Kafjärden onshore wind farm project (approx. NOK 200 million), retaining an increased ownership share (approx. 50%) in the company’s Stenkalles Grund shallow water wind farm project through construction (approx. NOK 240 million), the potential acquisition of Captiva (approx. NOK 48 million) and further growth opportunities.
Carnegie AS and Pareto Securities AS acted as Joint Global Coordinators and Joint Bookrunners together with Skandinaviska Enskilda Banken AB (publ) as Joint Bookrunner in connection with the private placement.
The DLA Piper Norway team representing Cloudberry was led by partners Magnus Brox, who also assisted the company on previous private placements and the listing of the company on Oslo Børs in 2021 (read more here and here respectively).
Cloudberry is a Nordic renewable energy company, owning, developing, and operating hydro power plants and wind farms in Norway and Sweden.