Ultimovacs ASA: Cancellation of subsequent repair offering

13 Feb 2025 17:30 CET

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO
THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN OR ANY JURISDICTION IN WHICH SUCH
RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

Oslo, 13 February, 2025: Reference is made to the stock exchange announcement
published by Ultimovacs ASA ("Ultimovacs" or the "Company") on 17 December 2024
regarding the agreement to combine its business with Zelluna Immunotherapy AS,
the fully committed private placement (the "Private Placement"), and the
intention to carry out a subsequent repair offering (the "Subsequent Offering"),
depending, inter alia, on the development of the price of the shares in the
Company after completion of the Private Placement.


The board of directors of the Company has resolved not to proceed with the
Subsequent Offering.


The background for the cancellation is that the Company's shares have traded at
or below the subscription price in the Private Placement for an extended period
of time and at sufficient volumes. Shareholders wishing to reduce the dilutive
effect of the Private Placement have thus had the opportunity to purchase shares
in the market at prices at or below the price which would have been the
subscription price in the Subsequent Offering.


For further information, please see www.ultimovacs.com
(https://www.ultimovacs.com) or contact:

Hans Vassgård Eid, CFO and Interim CEO, Ultimovacs ASA
Email: hans.eid@ultimovacs.com
Phone: +47 482 48632

More information:
Access the news on Oslo Bors NewsWeb site