Cxense ASA launches a NOK 90 million fully underwritten Rights Issue

Cxense ASA, a company delivering digital solutions to the professional market, proposes to carry out a fully underwritten rights issue of NOK 90 million at a subscription price of NOK 7.00 per share, with pre-emptive subscription rights for existing shareholders.

Cxense has built a strong market position with its proven data management and personalisation technology. At the start of 2019, the Company's solutions are used by 190 customers, representing some of the world's leading publishers and brands, generating approximately USD 20 million in annual recurring revenues for Cxense. The Company has recently introduced new products with positive customer traction and seeks to capitalize on its position and expand into the growing data and subscription economy.

The Rights Issue is fully underwritten, subject to customary terms and conditions, by an underwriting syndicate established by Arctic Securities acting as Bookrunner. The Rights Issue is supported by some of the Company's largest shareholders, such as Ferd, ASAH and Norron as significant underwriters. Eligible shareholders will be granted subscription rights giving a preferential right to subscribe for and be allocated new shares in the Rights Issue. The subscription rights will be tradable and listed on Oslo Børs. Completion of the Rights Issue is subject to shareholders' approval and that an EEA-prospectus for the Rights Issue is approved by the Financial Supervisory Authority of Norway. The Board of Directors has resolved to call for an extraordinary general meeting to be held on 7 February 2019 to approve the Rights Issue.

Aabø-Evensen & Co Advokatfirma is acting as legal advisors to Cxense in connection with the Rights Issue and Arctic Securities is acting as Bookrunner in connection with the Rights Issue.

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