Reference is made to the stock exchange announcement published by Observe Medical ASA (the "Company") on 1 November 2023, with key information relating to the contemplated rights issue in the Company raising gross proceeds of up to NOK 55 million (the "Rights Issue") and the stock exchange announcement of the Company dated 21 November 2023 with the updated terms of the Rights Issue. Updated key information relating to the Rights Issue is set out below. 

Date on which the terms and conditions and conditions of the Rights Issue were announced: 1 November 2023 and 21 November 2023.

Last day including right: 22 November 2023

Ex-date: 23 November 2023

Record Date: 24 November 2023

Date of approval: 22 November 2023

Maximum number of new shares: 211,538,461

Subscription price: 0.26

Ratio subscription rights: Each existing shareholder as of 22 November 2023 (as registered in the Norwegian Central Securities Depository (ESO) as at the expiry of 24 November 2023 (the record date)) will be granted 3.9546 subscription rights for each share registered as held by the shareholder. The number of subscription rights granted to each existing shareholder will be rounded down to the nearest whole subscription right.

Subscription ratio: 1:1 (number of new shares per subscription right)

Manager: Sparebank 1 Markets

Will the rights be listed: Yes, the subscription rights are expected to be listed under ticker code "OBSRVT"

ISIN for the subscription rights: ISIN NO0012981077

Other information: Completion of the Rights Issue is subject to (i) subscriptions for cash proceeds of at least NOK 18 million, (ii) that each of the Lenders convert the Loans in whole and/or enter into an amendment agreement for the remaining amount under each of the respective Loans that are not converted regarding extension of the maturity date and amendment of the terms to market terms., and (iii) approval by the extraordinary general meeting of the Company, which will be held on 22 November 2023.

For further information about the Company, please contact:

Rune Nystad, CEO Observe Medical

Mobile: +47 916 24 683

E-mail: rune.nystad@observemedical.com

Per Arne Nygård, CFO Observe Medical

Mobile: +47 411 04 345

E-mail: perarne.nygard@observemedical.com

This stock exchange announcement was published by Per Arne Nygård, CFO on 21 November 2023 at 14:00 (CET) on behalf of the Company.

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 commercialization of its broad portfolio of medical technology products, mainly in urine measurement, ultrasound, anesthesiology/ICUs, surgery and wound care, in combination with targeted M&A.

The Company is headquartered in Oslo, Norway, with additional offices in Narvik, Norway and Gothenburg, Sweden, and subsidiaries in Finland and the US. In addition, Observe Medical has a direct sale organization in the Nordics and a distributor network internationally.

Further information is available at www.observemedical.com.

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