Oslo, 2 July 2024

Reference is made to the stock exchange announcement by Observe Medical ASA ("Observe Medical" or the "Company", OSE ticker: OBSVR) on 24 June 2024, regarding the successfully placed private placement of 55,000,000 new shares in the Company (the "Offer Shares") at a subscription price of NOK 0.40 per Offer Share to raise gross proceeds of NOK 22 million (the "Private Placement").

The share capital increase pertaining to the issuance of 38,137,038 Offer Shares in the first tranche of the Private Placement has today been registered with the Norwegian Register of Business Enterprises (Nw. Foretaksregisteret).

The Company's share capital is NOK 59,493,782.92, divided into 228,822,242 shares, each with a nominal value of NOK 0.26. For more information about the Private Placement, please see the above mentioned announcement.

For further information, please contact:

Jørgen Mann, Interim CEO Observe Medical

Mobile: +45 408 67 558

E-mail: jorgen.mann@observemedical.com

Johan Fagerli, CFO Observe Medical

Mobile: +47 958 12 765

E-mail: johan.fagerli@observemedical.com

About Observe Medical: 

Observe Medical is a Nordic medtech company that develops, markets and sells innovative medtech products for the global market. The Company is committed to improving patient welfare and patient outcomes, improving clinical data accuracy and promoting positive health economics.

The Company seeks to drive growth by leveraging its expertise in sales and commercialisation of its broad portfolio of medical technology products, mainly in urine measurement and ultrasound, in combination with targeted M&A and distribution. Observe Medical is working with a network of leading distributors to provide outstanding solutions for healthcare professionals globally.

The Company is headquartered in Oslo, Norway.

Further information is available at www.observemedical.com.

This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.