NBX exercises on the put option agreement with LDA Capital

03 Apr 2023 13:20 CEST

Oslo, Norway - NBX, the leading Norwegian-based digital assets exchange.
As a continuation of the planned financing for current initiatives related to
the launch of the NBX Visa credit card and to facilitate NBX commitment to
growth in the Nordics, NBX have issued the first put option notice pertaining to
the earlier announced put option agreement with LDA Capital Ltd. ("LDA").

In September 2022, NBX secured a provisional NOK 100 million capital commitment
from LDA, a Los Angeles based global investment group, by entering into a put
option agreement. This capital commitment has a maximum duration of three years
and is released based on drawdowns. NBX has the right to exercise on the capital
commitment at its sole discretion. NBX now utilizes the facility by issuing a
put option notice to LDA to draw down funds in exchange for issuing new shares
to LDA. Until new shares are issued, and as part of the put option agreement,
three major shareholders have agreed to lend to LDA the necessary shares for
each put option notice.

Within twelve (12) months NBX will issue to LDA the number of ordinary shares
subscribed for in this put option notice for LDA to return to the share lenders.

The individual strike price of each put option is determined by the volume
weighted average price (VWAP) of NBX’s shares during a 30 day pricing period.
NBX has the discretion to set a minimum price for each of the capital calls.

The funds will be utilized to facilitate NBX’s growth in the Nordics and as
collateral for the imminent NBX Visa credit card launch.

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Contact person:
Stig Kjos-Mathisen - CEO Mail: stig.aleksander.kjos-mathisen@nbx.com, Phone: +47
93287572

More information:
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