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Elliptic Laboratories AS: NOK 125 Million Private Placement Successfully Placed

Oct 8, 2020News

Oslo, Norway — Elliptic Laboratories AS is pleased to announce a successful private placement raising gross proceeds of NOK 125 million to the Company through the allocation of 833,333 new shares at a subscription price of NOK 150.00 per share (the “Private Placement”).

Please visit Oslo Børs for more information: https://newsweb.oslobors.no/message/515068.

About Elliptic Labs

Elliptic Labs is a global enterprise targeting the smartphone, laptop, IoT, and automotive markets. Founded in 2006 as a research spin-off from Norway’s Oslo University, the company’s patented AI software combines ultrasound and sensor-fusion algorithms to deliver intuitive 3D gesture, proximity, and presence sensing experiences. Its scalable AI Virtual Smart Sensor Platform™ creates software-only sensors that are sustainable, eco-friendly, and already deployed in hundreds of millions of devices around the world. Elliptic Labs is the only software company that has delivered detection capabilities using AI software, ultrasound, and sensor-fusion deployed at scale. It filed its IPO with the Euronext Growth Market in October 2020.

Elliptic Labs is headquartered in Norway with presence in the USA, China, South-Korea, Taiwan, and Japan. Its technology and IP are developed in Norway and are solely owned by the company.

PR Contacts:

Patrick Tsui

[email protected]

Investor Relations:

Lars Holmøy

[email protected]