Oslo, April 10^th, 2025 - Observe Medical ("the Company" or "Observe Medical") have reached agreements in principle with Convatec and Navamedic to reduce their debt position from in total NOK 82 million to NOK 41 million, with an adjusted payment plan for the remaining debt. Such debt reduction is conditional upon injection of new equity in the minimum amount of NOK 25 million.

The Company has also been in constructive dialogue with existing shareholders and new investors who have indicated willingness to contribute equity in an amount of NOK 25 million, subject to debt reductions being agreed. The agreements in principle with Convatec and Navamedic will partially cover the requirement from such investors. Similar negotiations with smaller unsecured creditors will also be initiated.

It is currently considered likely that an equity raise (if initiated) will take the form of a private placement and a subsequent repair offering, but the final transaction structure remains to be determined. Furthermore, final commitments from the investors who have expressed willingness to participate have not yet been retained and no assurance can at this stage be given that the contemplated refinancing will be completed.

For further information, please contact:

Jørgen Mann, 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

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to section 5-12 the Norwegian Securities Trading Act. 

This stock exchange announcement was published by Johan Fagerli, CFO of the Company, on 10 April 2025 at 08:50 hours 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 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.