Nús jódraugum ægis
arnar flaug (ok bauga
hygg, at heimboð þiggi
hangagoðs) of vangi.
Nús flaug arnar of vangi ægis jódraugum; hygg, at þiggi heimboð hangagoðs ok bauga.
Now there is an eagle’s flight above the field for the logs of the steed of the ocean [(lit. ‘ocean’s steed-logs’) SHIP > SEAFARERS]; I believe that they may receive an invitation from the god of the hanged [= Óðinn] and rings.
[3, 4] heimboð hangagoðs ‘an invitation from the god of the hanged [= Óðinn]’: Lit. ‘invitation of the god of the hanged’, i.e. the sea-warriors who will fall in the impending battle will be invited by Óðinn to visit him in his home, Valhǫll (‘Hall of the Slain’), where they will be entertained.