Orsted, a Danish offshore wind developer, said Monday that it priced its $9.42-billion rights issue at $66.6 crowns per share ($10.46), representing a discount of 66.7% to the closing price of Friday's stock.

Orsted received shareholder approval earlier this month for the capital raising, which is needed to fund U.S. Projects that are in doubt due to President Donald Trump’s opposition to renewable energy sources.

Orsted said that "today...we are initiating a right issue" to raise capital for the Sunrise Wind project and to create a solid financial foundation to help Orsted realise its potential.

(source: Reuters)