Otello Corporation ASA

Regulatory Filings • Oct 22, 2020

Bemobi makes preliminary filing for IPO in Brazil & 3Q20 update

Bemobi makes preliminary filing for IPO in Brazil & 3Q20 update

Oslo, Norway - October 22, 2020 - Otello Corporation today announced that its

subsidiary Bemobi has made a preliminary filing for a listing of the Bemobi

business in Brazil.

The preliminary filing consists of draft documentation which will be subject to

review by the Brazilian Securities Commission (the "CVM"). The filing does not

mean that a listing of Bemobi will definitely take place and any initial public

offer of shares ("IPO") and listing are subject to the fulfillment of several

outstanding items and matters being concluded to Otello's satisfaction,

including the valuation of the Bemobi business. Consequently, no assurances can

be or are given that the IPO and listing process will proceed and be completed.

Should a Brazilian IPO and listing process be undertaken by Bemobi, it will

consist of the registration of the issuer and the securities with CVM and an

offering made to Brazilian investors based on the documentation registered with

the CVM with a concurrent placement to non-Brazilian investors based on

disclosure documentation relying on the exemptions from registration under the

U.S. Securities Act of 1933, as amended (the "Securities Act") available under

Rule 144A under the Securities Act and Regulation S under the Securities Act.

Bemobi has developed as expected in 3Q20 and delivered revenue of $11.6m and

adjusted EBITDA of $4.7m.

Otello will report 3Q20 numbers on 27[th] October.

Petter Lade, CFO

Phone: +47 91143878

E-mail: petterl@otellocorp.com

About Otello:

Otello holds shares in several different businesses, including (i)AdColony which

helps publishers monetize their content through advertising and advertisers

reach the audiences that build value for their businesses, capitalizing on a

global consumer audience reach that exceeds 2 billion; (ii) Bemobi, a Mobile

Media and Entertainment company which integrate people and mobile content

through technology and offers a leading subscription-based discovery service for

mobile apps in Latin America and beyond; (iii) Skyfire which offers cloud-based

network solutions for mobile operators and (iv) Vewd which offers OTT services

in the Connected TV space.