Flyr closes private placement; launches subsequent offering

Norwegian airline Flyr has raised NOK 250 million (US$24.7 million) in gross proceeds via the private placement of 25,000,000,000 new shares, at a price per share of NOK 0.01. The airline reports that the private placement attracted strong interest from high quality investors in Norway and internationally and was significantly over-subscribed. Flyr has launched a subsequent offering of up to 10,000,000,000 new shares at a subscription price per share of NOK 0.01. The subsequent offering will be cleared for launch following a board meeting on November 16. Arctic Securities, Carnegie and SpareBank 1 Markets acted as joint bookrunners in the