LAXEY com­pletes 5 bil­lion share of­fer­ing

LAXEY, which is building a company with up to 36,000 tonnes (HOG) annual production of land-based salmon in the Westman Islands, completed a 5 billion ISK capital increase last week, equivalent to about 35 million euros. This milestone marks an important step toward building the company's annual production to 10,000 (HOG) tonnes of high-quality land-based salmon.

Alongside the capital increase, LAXEY has entered into a long-term agreement with Arion Bank that includes both refinancing and expansion of credit lines for the first phase, as well as new financing to support the development of the second phase. The total financing secured through this mixed equity and debt funding now amounts to 19 billion ISK (130 million euros), reflecting significant trust from professional investors in the company's vision. Since its founding, LAXEY has raised over 17 billion ISK in equity.

Arion Bank was the manager of the share offering.