Polight ASA

poLight ASA - Contemplated underwritten Rights Issue

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 [email protected]. 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

AI Terminal