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Reference is made to the stock exchange notice by Elliptic Laboratories AS ("Elliptic Labs" or the "Company") on 8 September 2021 regarding the contemplated private placement (the "Private Placement") of new and existing shares in the Company (the "Offer Shares"). The Company is pleased to announce that it has allocated 744,395 Offer Shares in the Private Placement at a subscription and sale price of NOK 223 per share, corresponding to a total size of the Private Placement of NOK 166 million. The board of the Company has decided to issue 672,646 new shares, raising gross proceeds of approximately NOK 150 million. The Company's CEO, Laila Danielsen, and EVP of Engineering, Espen Klovning (the "Selling Shareholders") have in aggregate sold 71,749 shares for in total approximately NOK 16 million.
Carnegie AS and SpareBank 1 Markets AS acted as joint lead managers and joint bookrunners in connection with the Private Placement (jointly the "Managers").
The net proceeds to the Company from the Private Placement will be used to accelerate growth through the following initiatives: (i) Pursue and fund near-term growth opportunities like the recently announced enterprise software license agreement, including further R&D and technical development
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