Huddlestock Fintech

Share Issue/Capital Change • Nov 14, 2023

Cancellation of Subsequent Offering

Cancellation of Subsequent Offering

14.11.2023 17:36:21 CET | Huddlestock Fintech AS | Additional regulated

information required to be disclosed under the laws of a member state

Oslo, 14 November 2023.

Reference is made to the stock exchange notice published by Huddlestock Fintech

AS (the "Company") on 13 November 2023 regarding the completion of a private

placement of 14,583,333 new shares in the Company at a subscription price of NOK

1.20 per share raising gross proceeds of approximately NOK 17,500,000 (the

"Private Placement") and a potential subsequent offering at the same

subscription price as in the Private Placement directed towards eligible

shareholders. Each investor in the Private Placement received, without

additional payment, 0.5 unlisted warrants (the "Warrants") per Offer Share

issued and allocated, having a strike price of NOK 1.80 exercisable from

registration and until 12 months after registration.

Since the completion of the Private Placement, the shares in the Company have

traded on customary volumes only slightly above the subscription price in the

Private Placement, also having taken the value of the Warrants into account.

Hence, there is only quite limited economic value in a thought of a "repair

issue" for the eligible shareholders, such value most likely being substantially

lower than the estimated expenses involved for the Company in carrying out such

repair issue. Furthermore, the Private Placement was carried out on a quite

broad basis in the sense that investors holding nearly 70% of the shares of the

Company were contacted in connection with the Private Placement. In addition,

following publication of the contemplated Private Placement on 10 November 2023,

the Company were contacted by several shareholders wanting to subscribe in the

Private Placement, all of which were accepted as subscribers. This was made

possible by not having any provision on minimum subscription in the Private

Placement. Based on the above the, Board of Directors of the Company is of the

opinion that the principle of equal treatment has been sufficiently complied

with in connection with the Private Placement and has therefore decided to

cancel the subsequent offering.

DISCLOSURE REGULATION

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

CONTACTS

* John E. Skajem, Chief Executive Officer, Huddlestock Fintech, +47 418 87 412,

john.skajem@huddlestock.com

* Leif Arnold Thomas, Chief Corporate Development, Huddlestock Fintech -

Corporate Development, +47 982 15 520, leif.thomas@huddlestock.com

ABOUT HUDDLESTOCK FINTECH AS

Huddlestock Fintech is an innovative technology software provider with a leading

expert professional services business. We deliver innovative and sustainable

technology solutions to the capital markets, treasury and wealth management

industries.

Through its technology offering, Huddlestock offers an innovative, compliant,

and data-centric WealthTech SaaS, accelerating the digital transformation, and

trends of hyper-personalization and on-demand banking within the wealth

management industry. Huddlestock's SaaS empowers the embedding of low-cost,

efficient white-label trading and investment services, underpinning

Huddlestock's mission of delivering financial inclusion by democratizing access

to capital markets.

Through its world-class expert professional services business, Huddlestock

delivers strategic technology solutions and process automation for the financial

services industry. This range of services has propelled Huddlestock into

becoming the preferred supplier of financial consultancy services and technology

solutions in the Nordic region. Huddlestock Fintech AS was listed on Euronext

Growth Market 26th November 2020, as Norway's first fintech company to be

publicly traded.

For more information, please visit www.huddlestock.com -

http://www.huddlestock.com/

ATTACHMENTS

Download announcement as PDF.pdf -

https://kommunikasjon.ntb.no/ir-files/17848032/2748/3847/Download%20announcement

%20as%20PDF.pdf