SCHEDULE: BW Altor Boosts Cadeler Stake to 28.24% via Private Placement

BW Altor Pte. Ltd. increased its beneficial ownership in Cadeler A/S to 28.24% through a private placement and open market purchases, signaling potential future strategic actions.

Summary

• BW Altor Pte. Ltd. (BWA) now beneficially owns 109,007,909 ordinary shares of Cadeler A/S.
• This represents approximately 28.24% of Cadeler A/S's total outstanding ordinary shares.
• The ownership percentage is based on 385,963,349 total outstanding shares, which includes 35,095,758 newly issued shares from a private placement.
• BWA subscribed to purchase 12,126,875 newly issued shares in a private placement on March 26, 2026, at a price of NOK 56.00 per share, totaling NOK 679,105,000.
• BWA also purchased an additional 715,000 shares in multiple open market transactions on March 27, 2026, at a weighted average price of NOK 53.52 per share.
• The funds for these acquisitions originated from an equity injection by Andreas Sohmen-Pao, who is BWA's sole equityholder and also the Chairman of Cadeler's Board of Directors.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a moderately positive development, as a significant shareholder is increasing its stake and expressing a long-term strategic interest, which can instill confidence in the company's direction and stability.

Positives

• Increased stake by a significant shareholder (BW Altor) demonstrates strong confidence in Cadeler A/S's future prospects.
• The private placement provided Cadeler A/S with additional capital.
• The reporting person's stated intent to potentially finance business opportunities suggests a supportive and engaged major shareholder.

Future Outlook

The Reporting Person intends to regularly review its investment in Cadeler A/S and may, based on various factors including business performance and market opportunities, decide to acquire or sell additional securities, propose directors, pursue control, acquire assets, or engage in other strategic proposals. They also plan to communicate with other stakeholders regarding the Issuer's operations, governance, and control.

Management Comments

• The Reporting Person expects to review from time to time their investment in the Issuer and may, depending on the Issuer's business, assets, operations, financial condition, prospects, the relative attractiveness of business and investment opportunities, and other factors, decide to: (i) purchase additional Common Shares, options or other securities of the Issuer in the open market, in privately negotiated transactions or otherwise, including the financing of potential business opportunities; (ii) sell all or a portion of the Common Shares, options or other securities now beneficially owned or hereafter acquired by them; (iii) propose one or more directors for the Issuer's board of directors; (iv) engage in discussions, negotiations or enter into other transactions with a view to obtaining direct or indirect control of the Issuer; (v) acquire assets of the Issuer and its subsidiaries; and (vi) engage in such other proposals as the Reporting Person may deem appropriate under the circumstances, including plans or proposals which may relate to, or could result in, any of the matters referred to in clauses (a) through (j).
• The Reporting Person, as securityholder of the Issuer, and Mr. Sohmen-Pao, as Chairman of the Issuer's Board of Directors, may engage in communications with, without limitation, one or more shareholders of the Issuer, one or more officers of the Issuer and/or one or more members of the board of directors of the Issuer regarding the Issuer, including but not limited to its operations, governance and control.

Industry Context

StockSavvy.ai notes that increased insider or significant shareholder stakes, especially through private placements, often signal strong conviction in a company's future prospects within its industry. For Cadeler A/S, a key player in offshore wind installation, this increased investment by BW Altor, whose sole equityholder is also the Chairman of Cadeler's board, could be interpreted as a strategic move to solidify influence and support growth in a rapidly expanding renewable energy sector.

Corporate Governance

Related Party Transactions

• Andreas Sohmen-Pao, the sole equityholder of BW Altor Pte. Ltd., is also the Chairman of Cadeler A/S's Board of Directors.
• Mr. Sohmen-Pao provided the personal funds for the equity injection into BW Altor, which were then used to acquire Cadeler A/S shares in the private placement and open market.

Stakeholder Impact

• Shareholders: Increased confidence due to a major shareholder's expanded stake and long-term strategic interest. Potential for enhanced governance oversight given the reporting person's stated intent to engage on operations and control.
• Company (Cadeler A/S): Received capital from the private placement. Benefits from a committed major shareholder who may support future business opportunities.

Next Steps

• BW Altor Pte. Ltd. will continue to review its investment in Cadeler A/S.
• Potential future actions include purchasing or selling additional securities, proposing directors, seeking control, or acquiring assets.
• BW Altor and Mr. Sohmen-Pao may engage in communications with other stakeholders regarding Cadeler's operations, governance, and control.

Key Dates

Recommendation

The increased stake by BW Altor, whose principal is also the Chairman of Cadeler's board, signals strong insider confidence and potential strategic alignment. While this is a positive indicator, the filing primarily details an ownership change and future intentions rather than new operational or financial performance data. Investors should hold to observe how these strategic intentions translate into tangible operational improvements or further corporate actions, as the full impact on valuation is yet to be realized.

Keywords

Cadeler A/S, BW Altor, Schedule 13D, Beneficial Ownership, Private Placement, Share Acquisition, Andreas Sohmen-Pao, Corporate Governance, Shareholder Stake