CondAlign – Company update and potential capital raise

07 Feb 2025 15:20 CET

CondAlign experience strong traction in the market for its high-value and unique
products. A significant number of well-known international companies are in the
mid of or have finalized the design-in process with CondAlign’s products. As a
result of this CondAlign have received several requests for proposal for high
volume delivery, and the number of requests are expected to grow strongly going
forward.

As previously communicated, the Company and its board are in the process of
identifying strategic alternatives for the Company. These processes are
progressing well, and it may involve a sale of assets or shares in CondAlign.
While the market traction is strong and the strategic discussions are positive,
the Company needs to secure funding to finance the current business and these
strategic discussions.

With this background the Company has resolved to explore a potential capital
raise through the issuance of a convertible loan to raise gross proceeds of
minimum NOK 9 million and maximum NOK 15 million. If the minimum proceeds are
raised the Company expects the current cash runway to be extended to May 2025,
which is expected to give ample time to continue but not necessarily conclude
the ongoing strategic process.

The application period for the convertible loan is expected to commence on 10
February 2025 at 09:00 (CET) and last until 17:00 (CET) on 17 February 2025
(subject to extension). The convertible loan will only be directed at existing
shareholders and certain other investors in reliance on applicable prospectus
exemptions.
The convertible loan can be converted into units of shares in the existing share
classes of preference shares and ordinary shares at a conversion price of NOK 8
per unit. Each unit includes 1 preference share and 50 ordinary shares.

The convertible loan will be contingent upon approval by an extraordinary
general meeting of the Company. The Company will revert with further information
about the convertible loan after expiry of the application period.

For more information, please contact:

Rune Rinnan
Group CEO
Chair CondAlign AS
Tel: +47 900 56 028

Harald Wahl Breivik
CEO CondAlign AS
Tel: +47 976 33 815
harald.breivik@condalign.no

More information:
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638067_2025-02-07 - CondAlign - NOTC announcement company update and capital raise.pdf