NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES OR ANOTHER 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 Hofseth BioCare ASA ("HBC" or the "Company") published on 26 June 2026 regarding a private placement (the "Private Placement") of between 96,153,846 and 134,615,384 new shares ("Offer Shares") at a fixed price per share of NOK 1.30 (the "Offer Price") corresponding to a total Private Placement size of between approximately NOK 125 million and NOK 175 million (the "Offer Size").
The Company is pleased to announce that the Board of Directors has now allotted 111,154,608 Offer Shares at the Offer Price, corresponding to gross proceeds of approximately NOK 144.5 million. The Offer Shares will be settled with a combination of cash and conversion of receivables towards the Company, of which Offer Shares for an amount of approximately NOK 66.5 million will be settled through conversion of receivables towards the Company.
The net proceeds of the Private Placement will be used for growth capital, strengthening of the balance sheet and for general corporate purposes.
The following investors pre-committed to subscribe for Offer Shares and have been allocated Offer Shares in the Private Placement as set out below:
Scatterty Holdings Ltd has been allocated 38,461,538 Offer Shares for a total subscription amount of approximately NOK 50,000,000;
Hofseth International AS has been allocated 30,384,615 Offer Shares for a total subscription amount of approximately NOK 39,500,000;
Klaus Küttner has been allocated 2,353,846 Offer Shares for a total subscription amount of approximately NOK 3,060,000;
Galaxy Group has been allocated 2,769,230 Offer Shares for a total subscription amount of approximately NOK 3,600,000;
Christoph Baldegger, Board Director and primary insider of HBC, allocated 3,076,923 Offer Shares for a total subscription amount of approximately NOK 4,000,000;
Jon Olav Ødegård, Chief Executive Officer of HBC, has been allocated 6,346,153 Offer Shares for a total subscription amount of approximately NOK 8,250,000;
James Berger, Chief Commercial Officer of HBC, has been allocated 6,346,153 Offer Shares for a total subscription amount of approximately NOK 8,250,000;
Dr. Bomi Framroze, Chief Scientific Officer of HBC, has been allocated 2,435,384 Offer Shares for a total subscription amount of approximately NOK 3,166,000;
Dr. Crawford Currie, Head of Medical R&D at HBC, has been allocated 2,435,384 Offer Shares for a total subscription amount of approximately NOK 3,166,000;
Leif Arne Giske, Accounting Manager of HBC, has been allocated 2,435,384 Offer Shares for a total subscription amount of approximately NOK 3,166,000; and
William Urban-Smith, Head of B2C of HBC, has been allocated 769,230 Offer Shares for a total subscription amount of approximately NOK 1,000,000.