FluoGuide Directed Share Issue March 2023

The company's management will present the outcome of the directed issue announced on March 10:

Copenhagen, Denmark, 17:31 CEST, 10 March 2022 – FluoGuide A/S (publ), a developer of surgical precision solutions within oncology (“FluoGuide” or the “Company”) (Nasdaq First North Growth Market: FLUO) hereby announces its intention to carry out a directed share issue of approximately SEK 25 million to Swedish and international institutional investors (the “Directed Share Issue”). The Company has appointed ABG Sundal Collier to act as Sole Bookrunner (the “Bookrunner”) in connection with the Directed Share Issue.

The subscription price and the total number of new shares in the Directed Share Issue will be determined by way of an accelerated bookbuilding procedure (the “Bookbuilding”). The Company believes that using the flexibility provided by the Directed Share Issue is the most appropriate alternative for the Company at this time, allowing it to raise capital in a timely and cost-effective manner and to diversify the shareholder base. By establishing the subscription price in the Directed Share Issue through an accelerated bookbuilding procedure, it is the assessment of the board of directors that the subscription price will accurately reflect current market conditions and demand.

The Bookbuilding will start immediately following this announcement. Pricing and allocation of the new shares in the Directed Share Issue is expected to take place before beginning of trading on Nasdaq First North Growth Market Stockholm at 09:00 CEST on 11 March 2022. The exact timing of closing of the Bookbuilding, pricing and allocation is at the discretion of the Company and the Bookrunner. The Company will announce the outcome of the Directed Share Issue immediately after closing of the Bookbuilding in a subsequent press release.

The net proceeds of the Directed Share Issue are intended to co-finance a phase II study in less aggressive brain cancers (meningioma and low grade glioma) and provide flexibility post the two phase II results for using FG001 guide surgery of high grade glioma and lung cancer. The phase III program for FG001 in brain cancer is planned to be initiated in 2023.

Consummation of the Directed Share Issue is, among other things, subject to a resolution by the board of directors of FluoGuide to issue new shares, pursuant to the authorization given by annual general meeting on 9 February 2021, following closing of the Bookbuilding.

In connection with the Directed Share Issue, the Company, Morten Albrechtsen (through Wexotec ApS) and Andreas Kjaer (through Life Science ApS), have agreed pursuant to a lock-up undertaking, subject to customary exceptions, not to issue or sell additional shares for a period of 90 days following settlement of the Directed Share Issue.