15. July 2025

Fossar Advisor to Unbroken in an ISK 800 million CB issue

Zym Ice hf., the parent company of Unbroken, has completed ISK 800 million convertible bond issue. Investors include IS Haf Investments, the Vestmannaeyjar Pension Fund, and other private investors. The financing is intended to support international sales and marketing efforts following a landmark sponsorship and partnership agreement with the Lidl-Trek cycling team, which competes in the Tour de France.

Corporate finance advisory was provided by Fossar Investment Bank alongside ARMA Advisory.

Zym Ice is an innovative company in the field of marine biotechnology. Its first product, Unbroken RTR, is a revolutionary dietary supplement produced in the company’s own factory in Norway, based on years of research and development. The partnership agreement with Lidl-Trek — valued at ISK 2 billion — will provide global exposure for Unbroken, as more than 3 billion people follow the Tour de France and other major cycling events worldwide each year. Additionally, the agreement grants Unbroken the right to distribute its products through thousands of Trek stores, with potential distribution through Lidl stores globally.

Fossar Investment Bank congratulates the company on the partnership and the financing and extends its thanks to ARMA Advisory for a pleasant collaboration.