Polight ASA — Capital/Financing Update 2020

Jun 3, 2020

polight asa - start of subscription period in subsequent offering - publication of prospectus

polight asa - start of subscription period in subsequent offering - publication of prospectus

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR

INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN, HONG KONG SPECIAL ADMINISTRATIVE REGION

OF THE PEOPLE'S REPUBLIC OF CHINA, OR THE UNITED STATES OR ANY OTHER

JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE

UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE

SECURITIES DESCRIBED HEREIN.

Reference is made to the stock exchange announcement from poLight ASA (the

"Company") on 16 April 2020 regarding the completion of a private placement of

727,273 new shares in the Company at a subscription price of NOK 55 per new

share (the "Private Placement"), raising gross proceeds of approximately NOK 40

million. Reference is furthermore made to the approval by the general meeting of

the Company on 28 May 2020 of a share capital increase of up to 181,818 new

shares (the "Offer Shares"), each at a subscription price of NOK 55 (the

"Subsequent Offering").

The subscription period in the Subsequent Offering commences today, on 3 June

2020 at 09:00 hours CEST, and will end on 16 June 2020 at 16.30 hours CEST.

In the Subsequent Offering, the Company's shareholders as of 16 April 2020 (as

registered in the VPS on 20 April 2020 (the "Record Date")), except (i)

shareholders who were allocated shares in the Private Placement, and (ii)

shareholders who are resident in a jurisdiction where such offering would be

unlawful or would require any filing, registration or similar action (other than

publishing of a prospectus in Norway) (the Eligible Shareholders) (the "Eligible

Shareholders") will be granted non-transferable subscription rights (the

"Subscription Rights") that, subject to applicable law, gives a right to

subscribe for and be allocated Offer Shares at the subscription price of NOK 55

(the "Subscription Price"), which is equal to the subscription price in the

Private Placement.

Eligible Shareholders will be granted approximately 0.03786 Subscription Rights

for each share registered as held on the Record Date, however rounded down to

the nearest whole Subscription Right. Each whole Subscription Right provides a

right to subscribe for, and be allocated, one Offer Share at the Subscription

Price. Subscription Rights that are not used to subscribe for Offer Shares

before 16.30 hours CEST will have no value and will lapse without compensation

to the holder. Over-subscription is permitted. Subscription without Subscription

Rights will not be permitted.

Eligible shareholders who wish to participate in the Subsequent Offering may

subscribe through the VPS Online Subscription System or by completing and

submitting to the subscription form for the Subsequent Offering (available in

the Prospectus, as defined below) in accordance with the procedures described in

the Prospectus.

A prospectus dated 29 May 2020 (the "Prospectus") has been prepared in

connection with the Subsequent Offering. The Prospectus contains further

information about the Company and the terms and conditions of the Subsequent

Offering. The Prospectus is not subject to review by the Norwegian Financial

Supervisory Authority nor any other authority but has been submitted to the

Norwegian Register of Business Enterprises in accordance with section 7-8 of the

Norwegian Securities Trading Act.

The Prospectus will be made available at the Company's website, www.polight.com,

and at www.abgsc.no and www.arctic.com.

ABG Sundal Collier ASA and Arctic Securities AS act as managers in the

Subsequent Offering. Advokatfirmaet CLP DA acts as Norwegian legal counsel to

the Company.

For additional information, please contact:

Øyvind Isaksen, CEO, poLight ASA: +47 90 87 63 98

About poLight ASApoLight offers a new autofocus lens which "replicates" the

human eye for use in devices such as smartphones, wearables, barcode, 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 offices in

Finland, France and China and representation in Taiwan and Korea. For more

information, please visit https://www.polight.com

This information is subject to the disclosure requirements pursuant to section 5

-12 of the Norwegian Securities Trading Act.