Northzone VII L.P. ("Northzone") has on21 December 2020 sold 12,000,000 shares (the "Shares") inKahoot! AS ("Kahoot!" or the "Company") at a price ofNOK 79 per share to a fund managed bySB Management Limited , a 100% directly owned subsidiary ofSoftBank Group Corp. ("SoftBank "). Following this purchase,SoftBank owns a total of 60,000,000 shares in Kahoot!, equivalent to 13.45% of the share capital of the Company.ABG Sundal Collier ASA andGoldman Sachs International have waived Northzone's obligations under a lock-up agreement dated1 December 2020 and expiring on31 March 2021 to allow for Northzone's sale of the Shares toSoftBank ; andSoftBank has agreed to assume Northzone's obligations under the lock-up agreement with respect to the Shares. Further, the Company has waivedSoftBank's obligations under the stand-still agreement between the Company andSoftBank dated23 September 2020 relating to the Shares, and effective from13 October 2020 , to allow forSoftBank's share purchase from Northzone. Northzone is represented on the Board of Directors of Kahoot!. Following the transaction, Northzone owns 12,000,000 shares in the Company, representing 2.69% of its share capital. Northzone's remaining shares in the Company are subject to a customary lock-up agreement lasting until31 March 2021 .ABG Sundal Collier ASA is financial adviser in connection with the transaction.
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