SoftOx Solutions AS — Capital/Financing Update 2024

Jan 24, 2024

All convertible bond holders accepted extension and conditional conversion

All convertible bond holders accepted extension and conditional conversion

OSLO – January 24, 2024: SoftOx Solutions, a Medtech and clinical-stage pharmaceutical company, has reached a conditional agreement with the lenders in the 15 million loan plus accrued interests from spring 2023 with due date of 31. January 2024. The lenders will convert a total of NOK 22 million into new equity in the Company within 1st of April 2024. As part of the agreement a total of 4.800.000 warrants to buy shares in the company at strike NOK 8 per share will be nulled.

The agreement further require that the Company successfully raise at least NOK 25 million in new share capital. Reference is also made to SoftOx’s press release of 16th of January 2024, where the Company announced that the company had closed a conditional agreement with the lender in the NOK 40 million plus interest convertible loan.

Total convertible debt in the company including accrued interests and debt to employees of the Borrower amounts to about NOK 77 million, which will all be converted at the same price as the price in the equity issue.

As a result of reaching this agreement the company will now start the work with raising a minimum of NOK 25 million in equity to fund SoftOx Solutions AS.

As announced 11th of January 2024 the company will initiate the drop down of Wound & Skin care in a separate company. The listed company will focus on SoftOx Inhalation Solutions including the Counteract program funded by European Defence Fund. The next step in the civil clinical development of SoftOx Inhalation Solutions will be a phase 2 efficacy study (Proof of Concept) on patients with Ventilator associated pneumonia(VAP). The cost of the study is estimated to approx. NOK 30 million.

For any questions or interview requests, please contact:

Geir Almås, Chair of SoftOx Solutions AS

Mail: ir@soft-ox.com

Phone: Front Desk: (+47) 948-59-599

About SoftOx Solutions AS

SoftOx Solutions AS (SoftOx) is a Medtech and pharmaceutical company listed on Euronext Growth Oslo under ‘SOFTX’. SoftOx Solutions AS was founded in 2012 and is headquartered in Oslo. The SoftOx Solutions Group includes: the holding company SoftOx Solutions AS, the Malmö subsidiary, and subsidiaries SoftOx Defense Solutions AS and SoftOx Disinfection AS. SoftOx is developing a highly effective antimicrobial solution for use in biofilm, viral and antimicrobial resistant infections. The patent-protected technology is based on extensive research and development in partnership with leading Nordic research institutes.

For more information on SoftOx, visit www.soft-ox.com