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ABG Sundal Collier Norge, First Securities, Fearnley Fonds lead Norwegian SeaBird's private placement

Posted on: Wed, 11 Nov 2009 06:01:00 EST

Symbols: SBDOF

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Nov 11, 2009 (M2 EQUITYBITES via COMTEX) --
SBDOF | Quote | Chart | News | PowerRating -- 11 November 2009 - Oslo-listed seismic services provider Seabird
Exploration (OSL:SBX) pocketed gross proceeds of NOK189m
(USD33.8m/EUR22.6m) in a private placement managed by ABG Sundal
Collier Norge ASA, First Securities AS and Fearnley Fonds ASA, the
company said today.

The 54 million new shares were offered to institutional and retail
investors at a price of NOK3.50 apiece.

The issue was equal to some 45% of Seabird's outstanding stock before
the placement.

The company will use the raised funds to secure a required equity
financing for one additional ocean-bottom node project, as well as for
general corporate purposes.

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