Observe Medical ASA – Key information relating to the rights issue
NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE'S REPUBLIC OF CHINA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN. OTHER RESTRICTIONS ARE APPLICABLE.
Observe Medical ASA – Key information relating to the rights issue
Reference is made to the stock exchange announcement published by Observe Medical ASA (the "Company") earlier today, on 1 November 2023, regarding the resolution by the Company's board of directors to propose that the Company carries out a share capital increase, by way of a rights issue, to raise gross proceeds of up to NOK 54,999,999.86 (the "Rights Issue"), and the notice of an extraordinary general meeting in connection with the Rights Issue.
Date on which the terms and conditions of the rights issue were announced: 1 November 2023
Last day including right: 22 November 2023 (assuming normal T+2 settlement)
Ex-date: 23 November 2023 (assuming normal T+2 settlement)
Record Date: 24 November 2023
Date of approval: 22 November 2023
Maximum number of new shares: 211,538,461
Subscription price: Minimum NOK 0.26 and maximum NOK 1.35
Ratio preferential rights: To be announced when the subscription price is determined
Subscription ratio: To be announced when the subscription price is determined
Manager: Sparebank 1 Markets
Will the rights be listed: The Company will apply for listing of the subscription rights on Euronext Expand
ISIN for the preferential rights: To be announced when determined
Other information: The subscription price for the new shares to be issued in the Rights Issue will be proposed by the board of directors, based on a recommendation from the manager, the day prior to the extraordinary general meeting to be held on 22 November 2023 (the "EGM"). See the stock exchange announcement containing the notice of the EGM published earlier today, on 1 November 2023, for further information regarding the Rights Issue. The Rights Issue is subject to approval by the EGM. Notice of the EGM is being sent today on 1 November 2023.
This information is published in accordance with the requirements of the Continuing Obligations.
For further information, please contact:
Rune Nystad, CEO Observe Medical
Mobile: +47 916 24 683
E-mail: rune.nystad@observemedical.com
Per Arne Nygård, CFO Observe Medical
Mobile: +47 411 04 345
E-mail: perarne.nygard@observemedical.com
About Observe Medical
Observe Medical is a Nordic medtech company that develops, markets and sells innovative medtech products for the global market. The Company is committed to improving patient welfare and patient outcomes, improving clinical data accuracy and promoting positive health economics.
The Company seeks to drive growth by leveraging its expertise in sales and commercialization of its broad portfolio of medical technology products, mainly in urine measurement, ultrasound, anesthesiology/ICUs, surgery and wound care, in combination with targeted M&A.
The Company is headquartered in Oslo, Norway, with additional offices in Narvik, Norway and Gothenburg, Sweden, and subsidiaries in Finland and the US. In addition, Observe Medical has a direct sale organization in the Nordics and a distributor network internationally.
Further information is available at www.observemedical.com.