Sea-Hawk Navigation AS is a Bergen-based provider of high performance radars based on in-house developed and patented polarimetric radar technology.
Sea-Hawk Navigation AS has secured a financial restructuring solution through a major private placement towards a group of Bergen-based investors. The equity issue secures repayment of all company debts accumulated through an extensive R&D process to develop the revolutionary radar technology based on its patented Sea-Hawk technology. In addition the issue secures a solid capital base to support the expansion now required by the company to absorb marked demands for Sea-Hawk commercialized radar sensors and radar system products.
The investors have a strong belief in the company’s technology and products and have both the will and financial strength to further support the company should this be required to reach the company’s full potential. The new investors are CG Rieber AS, Sparebanken Vest, Bergen Kommunale Pensjonskasse, Verdipapirfondet Holberg Norge AS and Sarsia Seed AS. Mentioned organizations have entered into the private placement with approximately same portion of owner share. Additionally Sector Asset Management continues its ownership through its investment fund Sector Speculare AS, but has reduced their owner share to same level as the new investors.