Grams rúni lætr glymja
gunnríkr, hinns hvǫt líkar,
Hǫgna hamri slegnar
heiptbráðr of sik váðir.
Gunnríkr rúni grams, heiptbráðr, hinns líkar hvǫt, lætr váðir Hǫgna, slegnar hamri, glymja of sik.
The battle-powerful prince’s confidant [RULER], quick to enmity, the one who likes boldness, makes the clothes of Hǫgni <sea-king> [MAIL-SHIRT], pounded with the hammer, ring around him.
[1] Grams: gramr U