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poLight ASA - Contemplated underwritten Rights Issue

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As previously announced in the Q4 2023 earnings report on 27 February 2024, the Group’s cash deposits will fund poLight ASA’s (“PLT” or the “Company”) activities through the fourth quarter of 2024.

To further strengthen the Company’s growth trajectory, PLT relies on equity financing to fuel its operational needs. The Company is exploring the possibility of securing minimum NOK 100 million via an equity raise, anticipated to be structured as an underwritten rights issue, with Pareto Securities AS (“PSEC”) advising the Company in this process.

This fresh influx of capital is projected to bolster the Company’s liquidity into 2026, paving the way for significant advancements in the commercialization of PLT’s proprietary and patented tunable optics technology. These enhancements will facilitate:

  • Elevating customer engagement to secure pivotal design wins and foster strategic relationship with key market players, driving growth across multiple market segments.
  • Broadening and enhancing PLT's product offerings.
  • Continue improving and maturing our supply chain to solidify our status as a reliable partner for customers.

For inquiries or expressions of interest in the forthcoming equity issue, please reach out to plt24@paretosec.com. They will facilitate all necessary communications with the Company. It is expected that participation in the underwriting consortium for the rights issue will be subject to a minimum underwriting amount of the NOK equivalent of EUR 100,000.

The timing, size and structure of any share issue, which may include underwriting arrangements, will be subject to, inter alia, prevailing market conditions and necessary corporate resolutions. No assurance can be given that the Company will carry out a share issue. More information about the contemplated share issue will be published in due course.

About poLight ASA

poLight ASA (OSE: PLT) offers a patented, proprietary tunable optics technology, starting with its first product, TLens® which replicates “the human eye” experience in autofocus cameras used in devices such as smartphones, wearables, barcode scanners, machine vision systems and various medical equipment. poLight's TLens® enables better system performance and new user experiences due to benefits such as extremely fast focus, small footprint, no magnetic interference, low power consumption and constant field of view. poLight is based in Horten, Norway, with employees in Finland, France, UK, US, China, Taiwan, and the Philippines. For more information, please visit https://www.polight.com

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