SoftOx Solutions AS — Share Issue/Capital Change 2018

Dec 14, 2018

SoftOx Solutions AS - Contemplated private placement

SoftOx Solutions AS - Contemplated private placement

Contemplated private placement

SoftOx Solutions AS (the “Company” or “SoftOx” with Merkur ticker: “SOFTOX-ME”) has retained SpareBank 1 Markets AS (the “Manager”) to advise on and effect a private placement of up to 680,000 new shares (the “Offer Shares”) directed towards existing and new Norwegian and international investors in order to raise gross proceeds of approximately NOK 15 million (the “Private Placement”).

The Company has received pre-commitments from new and existing shareholders of a total of 400, 000 shares, or about NOK 9 million. Of total pre-commitments, members of the Board of Directors and Management have pre-committed to 220,000 shares, or about NOK 5 million.

The Offer Shares will be offered at a fixed price of NOK 22 per share. The subscription period will commence on Monday 17 December 2018 at 08:30 hours (CET) and close Friday 21 December at 14:00 hours (CET). The Company may, however, at any time resolve to close or extend the subscription period at its own discretion and for any reason without any further notice.

The net proceeds from the Private Placement will be used to fund the Company’s ongoing clinical trial on first in human study of its wound cleanser solution as well as for general corporate purposes.

The minimum subscription and allocation amount in the Private Placement will be the NOK equivalent of EUR 100,000, provided that the Company may, at its sole discretion, allocate an amount below EUR 100,000 to the extent applicable exemptions from the prospectus requirement pursuant to applicable regulations, including the Norwegian Securities Trading Act and ancillary regulations, are available.

The allocation will be made at the sole discretion of the Company, based on criteria such as (but not limited to) existing ownership, sector knowledge, perceived investor quality, timeliness of application and investment horizon. Existing shareholders will be given priority in the event that the Private Placement is oversubscribed.

The Company will announce the final number of Offer Shares subscribed for in the Private Placement in a stock exchange announcement expected to be published after close on 21 December 2018.

The completion of the Private Placement is subject to the adoption of the required corporate resolutions of the Company, which will include a resolution by the Company's extraordinary general meeting if the Private Placement exceeds the outstanding board authorization of increasing the share capital with up to 500,000 new shares.

For further information, please contact:

Mr. Geir H. Almås, CEO, tel: +47 977 59 071, e-mail: geir.almaas@soft-ox.com