Norwegian appears to have pulled off a successful share offering yesterday. This was the final step in obtaining loan guarantees from Norway's government that are expected to give the airline adequate cash to stay afloat through the winter.
Shares for the offering were priced a NOK 1, which is about 10 cents US and is well below the current trading level of around 40 cents per share. The offer was oversubscribed. My jocular statement on 4/21 that I guessed Norwegian would price the offering at 10 cents per share now looks clairvoyant.
If all parties in the Norwegian deals act as expected, the airline can now slip into what it calls "hibernation," running a handful of intra-Norway routes "on behalf of the government to ensure that vital connectivity [is] maintained between regions" with 7 planes (compared to a fleet of 160 planes pre-hibernation) and then attempt to ramp up operations in the spring (though it will likely need another cash infusion to make that happen).