Audientes A/S refinances bridge loans with loans with no interest and instalments due for 12 months, with a right to convert to market price, and convert recent bridge loans to shares at market price

Company announcement no. 30-2023

September 30, 2023

The Board of Directors of Audientes A/S (“Audientes” or the “Company”), CVR 36047631, has reached an agreement with its existing bridge lenders (Selandia Alpha Invest A/S, Renewable Ventures Nordic AB and Mr. Gerhard Dal) to refinance the existing bridge loans originally secured in 2022, which will amount to DKK 5.85 million incl. both accrued interest until the refinancing and a refinancing fee of DKK 75,000 combined with a right for the lenders to convert the loans to shares at market price.

The new loans are maturing by the end of September 2024, with no interest and no instalments due until then. Loan givers may elect to convert the loan partly or wholly.

The lenders can convert the loan partly or wholly to equity in conjunction with:-

(1) the publishing of Audientes’ quarterly and annual reports. The conversion rate will be calculated using the Volume-Weighted Average Price method (known as VWAP) over 10 trading days starting from the day following publication;

(2) with emissions of shares (directed and rights issues) to others with a market value of at least DKK 500,000, whether with or without pre-emptive rights for the Company's shareholders. In this situation, conversion will be made at the same price as the issue.

Furthermore, bridge loans secured on May 31, 2023, from the same lenders, amounting to in aggregate DKK 780.000 incl. interest accrued, that was incurred to fund the company’s operation and development, will be converted into shares to allow the Company to use its liquidity to operate and further develop the business rather than repaying loans, will be converted into shares to allow the Company to use its liquidity to operate and further develop the business rather than repaying loans. In addition, Nordic Grand Harmony Investment AB will convert debt of DKK 50,000 to shares. The conversion price is market price calculated by using the VWAP method over the 10 preceding trading days to September 29, 2023.

For further information, please contact:

About Audientes A/S

Audientes A/S is a Danish hearing health company specializing in smart, self-fitting and affordable hearing aids and advanced hearables. Audientes’ unique self-fitting hearing aid solution, Ven™ by Audientes, is available for purchase in India and Nepal. Companion by Audientes is an advanced hearable consumer electronics product available in Europe and later in 2023 in China and Japan.

Audientes’ mission is to make high-quality hearing aids and hearables for hearing improvement or hearing enhancement accessible to everyone who needs them globally. Audientes is listed on Spotlight Stock Market Denmark (AUDNTS) and headquartered in Copenhagen, Denmark with a subsidiary in Hyderabad, India.

For additional information please refer to the company’s websites, www.audientes.com, www.audientes.eu or www.audientes.in.

This disclosure contains information that Audientes is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 30-09-2023 14:29 CET.