Hofseth Biocare ASA: Result of the subsequent offering

Reference is made to the stock exchange notice published on 24 August 2018 regarding publication of a prospectus and with further information regarding a subsequent offering with gross proceeds of up to NOK 20 million directed towards eligible shareholders (the "Subsequent Offering"). The Subsequent Offering consisted of an offer of minimum 1 and maximum 8,888,889 new shares (each an "Offer Share") in Hofseth BioCare ASA (the "Company" or "HBC"). The subscription period for the Subsequent Offering ended on 10 September 2018 at 16.30 hours (CEST). The subscription price in the Subsequent Offering was NOK 2.25 per Offer Share. Sparebank 1 Markets AS has acted as manager (the "Manager") for the Subsequent Offering.
 
At the end of the subscription period, the Company and the Manager has received subscriptions for a total of 6,600,298 Offer Shares out of 8,888,889 Offer Shares available.
 
The Board of Directors of HBC has approved the final allocation of Offer Shares based on the allocation criteria resolved by the Company's general meeting on 16 July 2018 and has allocated 6,600,298 Offer Shares to the subscribers. A total of 4,757,799 Offer Shares have been allocated on the basis of exercised subscription rights and 1,842,499 Offer Shares have been allocated to subscribers on the basis of oversubscription.
 
The Subsequent Offering raised gross proceeds of approx. NOK 14.9 million.
 
Payment for the Offer Shares allocated to the subscribers falls due on 18 September 2018. Letters of allocation giving notification of allocated Offer Shares and the corresponding amount to be paid will be distributed to the subscribers later today.
 
For further information, please contact:
Jon Olav Ødegård, CFO of Hofseth BioCare ASA
Mob: +47 936 32 966
E-mail: joo@hofsethbiocare.no
 
About Hofseth BioCare ASA:
HBC is a Norwegian biotech company that offers high-value ingredients and finished products for humans and pets. The company is founded on the core values of sustainability, traceability and optimal utilization of natural resources. Through an innovative hydrolysis technology, HBC can preserve the quality of salmon oil, proteins and calcium, prepared of fresh salmon off-cuts. HBC's objective is to contribute to the efficient use of marine resources and deliver quality products for ingredients and finished consumer products in the nutrition market.
 
Hofseth BioCare's headquarters are in Ålesund, Norway with branches in Oslo, Chicago, Mumbai, Palo Alto and Tokyo. HBC is listed on Oslo Stock Exchange Axess list with ticker "HBC". More information about Hofseth BioCare at www.hofsethbiocare.com and www.facebook.com/hofsethbiocare
 
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.