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The gross proceeds of the Private Placement amounts to NOK 70 million by issue
of 42.5 million new shares at NOK 1.65 per share. The Private Placement took
place 9 November 2020 after close of Oslo Børs.
The additional funds are expected to meet the Company’s capital requirements in
the medium term.The net proceeds from the Private Placement will be used to fund
growth opportunities and for general corporate purposes.
Vince Graziani, CEO, IDEX Biometrics, said: “This additional capital will enable
IDEX to deliver on our commitments to current customers and new customers when
we are moving to large scale commercialization. This investment confirms the
potential of IDEX’s fingerprint sensor technology in the biometric payment cards
market.”
IDEX is an international company traded on Oslo Børs. The Company intends to
list American Depositary Shares (“ADSs”) representing its ordinary shares, on
the Nasdaq Stock Market, this in addition to its current listing on Oslo Børs.
The new shares are issued under the board’s current authorization to issue
shares as resolved by the Company’s annual general meeting held on 15 May 2020.
The shares were placed at 3.1% premium on the closing price of the Company’s
shares on 9 November 2020, to Norwegian and international investors and existing
shareholders of the Company, as well as board members and members of management.
The Company’s board believes that the Private Placement is an appropriate
funding mechanism at the current time and is in the best interest of the Company
and all of its shareholders. The board considers it is appropriate to waive the
existing shareholders’ preferential right to subscribe for the Offer Shares.
The subscription amount must be paid by 20 November 2020. The new shares will be
issued as soon as practicable after payment and registration of the capital
increase with the Norwegian Register of Business Enterprises. Following the
Private Placement, the Company will have a share capital amounting to NOK
124,592,824.65 divided into 830618831 shares at NOK 0.15 nominal value per
share.
The following primary insiders subscribed to shares in the Private Placement:
Chair Morten Opstad subscribed to 100,000 shares. Following the Private
Placement, Mr. Opstad and close associates hold 7,398,916 shares and no other
rights to shares in IDEX.
Deputy chair Larry Ciaccia subscribed to 150,000 shares. Following the Private
Placement, Mr. Ciaccia holds 271,563 shares and 600,000 subscription rights to
shares in IDEX.
Board member Deborah Davis subscribed to 50,000 shares. Following the Private
Placement, Ms. Davis holds 564,479 shares and no other rights to shares in IDEX.
Board member Hanne Høvding subscribed to 25,000 shares. Following the Private
Placement, Ms. Høvding holds 487,778 shares and no other rights to shares in
IDEX.
Board member Steve Skaggs subscribed to 100,000 shares. Following the Private
Placement, Mr. Skaggs holds 764,909 shares and no other rights to shares in
IDEX.
Board observer Tom Quindlen subscribed to 275,000 shares. Following the Private
Placement, Mr. Quindlen holds 275,000 shares and no other rights to shares in
IDEX.
CEO Vince Graziani subscribed to 150,000 shares. Following the Private
Placement, Mr. Graziani holds 1,035,000 shares and 5,000,000 subscription rights
to shares in IDEX.
CFO Derek D’Antilio subscribed to 125,000 shares. Following the Private
Placement, Mr. D’Antilio holds 611,479 shares and 2,000,000 subscription rights
to shares in IDEX.
CTO Anthony Eaton subscribed to 30,000 shares. Following the Private Placement,
Mr. Eaton holds 211,041 shares and 1,452,800 subscription rights to shares in
IDEX.
VP Finance Erling Svela subscribed to 90,000 shares. Following the Private
Placement, Mr. Svela holds 320,162 shares and 1,061,200 subscription rights to
shares in IDEX.
For further information contact:
Marianne Bøe, Investor Relations
E-mail: marianne.boe@idexbiometrics.com
Tel: + 47 918 00186
Derek D’Antilio, Chief Financial Officer
E-mail: derek.dantilio@idexbiometrics.com
Tel: +1 978 273 1344
About IDEX Biometrics
IDEX Biometrics ASA (OSE: IDEX and OTCQB: IDXAF) is a leading provider of
fingerprint identification technologies offering simple, secure and personal
touch-free authentication for all. We help people make payments, prove their
identity, gain access to information, unlock devices or gain admittance to
buildings. We invent, engineer, and commercialize these secure and safe yet
incredibly user-friendly solutions. Our total addressable market represents a
fast growing multi-billion-unit opportunity.
For more information, visit www.idexbiometrics.com and follow @IDEXBiometrics
IMPORTANT INFORMATION
This announcement is not and does not form a part of any offer to sell, or a
solicitation of an offer to purchase any securities. The distribution of this
announcement and other information may be restricted by law in certain
jurisdictions. Copies of this announcement are not being made and may not be
distributed or sent into any jurisdiction in which such distribution would be
unlawful or would require registration or other measures. Persons into whose
possession this announcement or such other information should come are required
to inform themselves about and to observe any such restrictions.
The securities referred to in this announcement have not been and will not be
registered under the U.S. Securities Act of 1933, as amended (the “Securities
Act”), and accordingly may not be offered or sold in the United States absent
registration or an applicable exemption from the registration requirements of
the Securities Act and in accordance with applicable U.S. state securities
laws. There will be no public offer of the securities referred to in this
announcement in the United States. Any public offering of securities to be made
in the United States will be made by means of a prospectus that may be obtained
from the issuer or the selling security holder and that will contain detailed
information about the Company and management, as well as financial statements.
This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act
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