NOT FOR DISTRIBUTION OR RELEASE, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN
OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, HONG KONG OR JAPAN, OR
ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.

Oslo, 30 October 2020: 

Reference is made to the announcement on 23 October 2020, whereby Airthings ASA
("Airthings" or the "Company", ticker "AIRX-ME") announced the successful
completion of a private placement of new and existing shares in connection with
a listing of the Company's shares on Merkur Market (the "Private Placement "). 

ABG Sundal Collier ASA (the "Stabilisation Manager") may, on behalf of the
Managers (as defined below), engage in stabilisation activities from today, 30
October 2020, to, and including, 28 November 2020 (the "Stabilisation Period").
Any stabilisation transactions will be aimed to support the market price of the
Airthings shares.

In connection with the Private Placement, the Managers have over-allotted a
total of 5,500,000 shares in the Company to the applicants, equalling
approximately 9% of the total number of new and existing shares allocated. In
order to permit delivery in respect of such over-allotments made, certain
existing shareholders (the "Selling Shareholders") have lent to the
Stabilisation Manager, on behalf of the Managers, a number of existing shares in
the Company equal to the number of over-allotted shares. 

Further, the Selling Shareholders have granted to the Stabilisation Manager, on
behalf of the Managers, an over-allotment option to purchase from them, up to
5,500,000 shares in the Company at a price per share of NOK 13.50, which is
equal to the offer price in the Private Placement (the "Offer Price"). This
over-allotment option is exercisable, in whole or in part, by the Stabilisation
Manager, on behalf of the Managers, within the Stabilisation Period. The
Stabilisation Manager may close out the short position created by over-allotting
shares in the Private Placement by buying shares in the open market through
stabilisation activities and/or by exercising the over-allotment option.

The Stabilisation Manager, may effect transactions with a view to supporting the
market price of the Airthings shares at a level higher than what might otherwise
prevail, through buying shares in the Company in the open market at prices equal
to or lower than (but not above) the Offer Price. There is no obligation on the
Stabilisation Manager to conduct stabilisation activities and there can be no
assurance that stabilisation activities will be undertaken. If stabilisation
activities are undertaken, they may be discontinued at any time, and must be
brought to an end upon or before expiry of the Stabilisation Period.

Within one week following the expiry of the Stabilisation Period, the
Stabilisation Manager will publish an announcement under the Company's ticker on
the electronic bulletin board of Merkur Market, www.newsweb.oslobors.no, with
information as to whether or not it has undertaken any stabilisation activities,
including the total number of shares sold and purchased, the date at which the
stabilisation activities commenced, the date at which stabilisation activities
last occurred and the price range within which stabilisation was carried out for
each of the dates where stabilisation transactions were made.

Any stabilisation activities will be conducted based on the principles set out
in Section 3-12 of the Norwegian Securities Trading Act and the EC Commission
Regulation 2273/2003.

ABG Sundal Collier ASA, Carnegie AS and DNB Markets, a part of DNB Bank ASA are
acting as Joint Global Coordinators and Joint Bookrunners and Arctic Securities
is acting as Joint Bookrunner in connection with the Private Placement (together
with the Joint Global Coordinators, the "Managers"). Advokatfirmaet Schjødt AS
is acting as legal advisor to the Company and Advokatfirmaet Wiersholm AS is
acting as legal advisor to the Managers. ABG Sundal Collier ASA is acting as
Merkur Advisor in connection with the admission to listing on Merkur Market.
Gambit H&K AS is acting as communication advisor to the Company. 

For further information, please contact:

Øyvind Birkenes, Chief Executive Officer 
+47 922 43 551
Erik Lundby, Chief Financial Officer
+47 924 00 396

Important notice:
This announcement is not and does not form a part of any offer to sell, or a
solicitation of an offer to purchase, any securities of the Company. Copies of
this announcement are not being made and may not be distributed or sent into any
jurisdiction in which such distribution would be unlawful or would require
registration or other measures.
The securities referred to in this announcement have not been and will not be
registered under the U.S. Securities Act of 1933, as amended (the "Securities
Act"), and accordingly may not be offered or sold in the United States absent
registration or an applicable exemption from the registration requirements of
the Securities Act and in accordance with applicable U.S. state securities laws.
The Company does not intend to register any part of the offering in the United
States or to conduct a public offering of securities in the United States. Any
sale in the United States of the securities mentioned in this announcement will
be made solely to "qualified institutional buyers" as defined in Rule 144A under
the Securities Act.
In any EEA Member State, this communication is only addressed to and is only
directed at qualified investors in that Member State within the meaning of the
Prospectus Regulation, i.e., only to investors who can receive the offer without
an approved prospectus in such EEA Member State. The expression "Prospectus
Regulation" means Regulation (EU) 2017/1129 as amended (together with any
applicable implementing measures in any Member State.
This communication is only being distributed to and is only directed at persons
in the United Kingdom that are (i) investment professionals falling within
Article 19(5) of the Financial Services and Markets Act 2000 (Financial
Promotion) Order 2005, as amended (the "Order") or (ii) high net worth entities,
and other persons to whom this announcement may lawfully be communicated,
falling within Article 49(2)(a) to (d) of the Order (all such persons together
being referred to as "relevant persons"). This communication must not be acted
on or relied on by persons who are not relevant persons. Any investment or
investment activity to which this communication relates is available only for
relevant persons and will be engaged in only with relevant persons. Persons
distributing this communication must satisfy themselves that it is lawful to do
so.

Matters discussed in this announcement may constitute forward-looking
statements. Forward-looking statements are statements that are not historical
facts and may be identified by words such as "believe", "expect", "anticipate",
"strategy", "intends", "estimate", "will", "may", "continue", "should" and
similar expressions. The forward-looking statements in this release are based
upon various assumptions, many of which are based, in turn, upon further
assumptions. Although the Company believe that these assumptions were reasonable
when made, these assumptions are inherently subject to significant known and
unknown risks, uncertainties, contingencies and other important factors which
are difficult or impossible to predict, and are beyond their control. Actual
events may differ significantly from any anticipated development due to a number
of factors, including without limitation, changes in public sector investment
levels, changes in the general economic, political and market conditions in the
markets in which the Company operates, the Company's ability to attract, retain
and motivate qualified personnel, changes in the Company's ability to engage in
commercially acceptable acquisitions and strategic investments, and changes in
laws and regulation and the potential impact of legal proceedings and actions.
Such risks, uncertainties, contingencies and other important factors could cause
actual events to differ materially from the expectations expressed or implied in
this release by such forward-looking statements. The Company does not make any
guarantee that the assumptions underlying the forward-looking statements in this
announcement are free from errors nor does it accept any responsibility for the
future accuracy of the opinions expressed in this announcement or any obligation
to update or revise the statements in this announcement to reflect subsequent
events. You should not place undue reliance on the forward-looking statements in
this announcement. 
The information, opinions and forward-looking statements contained in this
announcement speak only as at its date, and are subject to change without
notice. The Company does not undertake any obligation to review, update,
confirm, or to release publicly any revisions to any forward-looking statements
to reflect events that occur or circumstances that arise in relation to the
content of this announcement.
Neither the Managers nor any of their affiliates makes any representation as to
the accuracy or completeness of this announcement and none of them accepts any
responsibility for the contents of this announcement or any matters referred to
herein.
This announcement is for information purposes only and is not to be relied upon
in substitution for the exercise of independent judgment. It is not intended as
investment advice and under no circumstances is it to be used or considered as
an offer to sell, or a solicitation of an offer to buy any securities or a
recommendation to buy or sell any securities of the Company. Neither the
Managers nor any of its affiliates accepts any liability arising from the use of
this announcement.
The distribution of this announcement and other information may be restricted by
law in certain jurisdictions. Persons into whose possession this announcement or
such other information should come are required to inform themselves about and
to observe any such restrictions.

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