2 December 2025: Reference is made to the stock exchange announcements published by Oncoinvent ASA (the “Company”) on 30 June 2025 and 4 August 2025, and subsequent announcements, regarding the contemplated fully underwritten rights issue of 260,000,000 new shares in the Company (the “Offer Shares”) raising gross proceeds of NOK 130 million (the “Rights Issue”).

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE’S REPUBLIC OF CHINA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT

 

The subscription period for the Rights Issue expired on 1 December 2025 at 16:30 hours (CET).

At the expiry of the subscription period in the Rights Issue, the Company had received valid subscriptions for a total of 180,902,224 Offer Shares.

The final allocation of the Offer Shares in the Rights Issue has now been completed based on the allocation criteria set out in the Company’s prospectus dated 28 October 2025 (the “Prospectus”).

The board of directors of the Company has allocated a total of 260,000,000 Offer Shares in the Rights Issue, of which 180,902,224 Offer Shares were allocated based on valid subscriptions and the remaining Offer Shares were allocated to the underwriters in their capacity as such.

Notifications of allocated Offer Shares and the corresponding subscription amount to be paid by each subscriber are expected to be distributed during the course of today, on 2 December 2025. Payment for the allocated Offer Shares falls due on 8 December 2025 in accordance with the payment procedures described in the Prospectus.

The Offer Shares may not be transferred or traded before they have been fully paid and the share capital increase pertaining to the Rights Issue has been registered with the Norwegian Register of Business Enterprises (Nw. Foretaksregisteret). Subject to the extraordinary general meeting of the Company to be held on 5 December 2025 approving the required share capital reduction to reduce the nominal value of the shares in the Company (as further described in section 7.4.3 of the Prospectus) and any other resolutions required to complete the Rights Issue, it is expected that the share capital increase will be registered in the Norwegian Register of Business Enterprises on or about 9 December 2025. The Offer Shares are expected to commence trading on the Oslo Stock Exchange on or about 10 December 2025.

Further, subject to completion of the Rights Issue, a total of 31,199,997 new shares, each at a price of NOK 0.50 (the “Underwriting Commission Shares”) will be delivered to the underwriters pursuant to the separate underwriting agreements dated 30 June 2025 as settlement of their entitlement to commission under said agreements. The Underwriting Commission Shares will be issued pursuant to the authorisation to increase the Company’s share capital, granted to the board of directors at the extraordinary general meeting held on 4 August 2025. The subscription price of NOK 0.50 per Underwriting Commission Share is equal to the subscription price in the Rights Issue. The Underwriting Commission Shares will be issued on or about the same time as the Offer Shares.

ABG Sundal Collier ASA and DNB Carnegie, a part of DNB Bank ASA are acting as joint lead managers and joint bookrunners (the “Managers”) for the Rights Issue.

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 of the Norwegian Securities Trading Act. This stock exchange announcement was published on instructions by Tore Kvam, CFO, at the date and time as set out above.

 

For further information, please contact:

Oystein Soug, Chief Executive Officer

Email:(soug@oncoinvent.com)

 

This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act. 

 

About Oncoinvent

Oncoinvent is a clinical-stage biotechnology company developing novel radiopharmaceutical therapies against cancer. The lead product candidate, Radspherin®, uses the alpha-emitting radionuclide radium-224, directly targeting micro-metastases in the peritoneum post-surgery, harnessing the benefits of modern radiopharmaceuticals without the complexities of biological targeting. Oncoinvent is investigating the safety and efficacy of Radspherin® in a clinical development program in two indications. One Phase 1 trial and one Phase 1/2a trial have been completed and one randomized Phase 2 trial in ovarian cancer is currently ongoing in the US and Europe. Early clinical efficacy data are highly encouraging, and no serious toxicity or safety concerns have been reported to date. Oncoinvent runs a state-of-the-art manufacturing facility to produce drug products for clinical trials in Nydalen, Oslo. Oncoinvent is listed on the Oslo Stock Exchange.

About Radspherin®

Radspherin® is an innovative internal radiation therapy designed to directly target microscopic metastases in the abdominal cavity following surgery. Radspherin® is currently in development as a post-surgical treatment for patients with cancer that has spread to the abdominal cavity – a group with very limited treatment options today. The drug candidate offers a distinctly unique therapeutic approach with several differentiating features, including the use of radium-224, single-dose treatment with a sustained therapeutic effect, non-systemic administration, direct targeting and an exceptional dose-to-tumor ratio, maximizing efficacy while limiting harm to healthy tissue

 

IMPORTANT INFORMATION

This announcement does not constitute an offer of securities for sale or a solicitation of an offer to purchase securities of the Company in the United States or any other jurisdiction. Copies of this document may not be sent to jurisdictions, or distributed in or sent from jurisdictions, in which this is barred or prohibited by law. The securities of the Company may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”).

 

The securities of the Company have not been, and will not be, registered under the U.S. Securities Act. Any sale in the United States of the securities mentioned in this communication will be made solely to “qualified institutional buyers” as defined in Rule 144A under the U.S. Securities Act. No public offering of the securities will be made in the United States.

 

Any offering of the securities referred to in this announcement will be made by means of the Prospectus prepared by the Company in connection the Rights Issue, as approved by the The Financial Supervisory Authority of Norway (Nw. Finanstilsynet)on 28 October 2025. This announcement is an advertisement and is not a prospectus for the purposes of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 on prospectuses to be published when securities are offered to the public or admitted to trading on a regulated market, and repealing Directive 2003/71/EC (as amended) as implemented in any EEA Member State (the “Prospectus Regulation”). Investors should not subscribe for any securities referred to in this announcement except on the basis of information contained in the Prospectus. Copies of the Prospectus is available from the Company’s registered office and, subject to certain exceptions, on the website of the Managers.

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.

 

In the United Kingdom, this communication is only addressed to and is only directed at Qualified Investors who (i) are 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) are persons falling within Article 49(2)(a) to (d) of the Order (high net worth companies, unincorporated associations, etc.) (all such persons together being referred to as “Relevant Persons”). These materials are directed only at Relevant Persons and must not be acted on or relied on by persons who are not Relevant Persons. Any investment or investment activity to which this announcement relates is available only to 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.

 

This document is not for publication or distribution in, directly or indirectly, Australia, Canada, Japan, the United States or any other jurisdiction in which such release, publication or distribution would be unlawful, and it does not constitute an offer or invitation to subscribe for or purchase any securities in such countries or in any other jurisdiction. In particular, the document and the information contained herein should not be distributed or otherwise transmitted into the United States or to publications with a general circulation in the United States of America.

 

The Managers are acting for the Company in connection with the Rights Issue and no one else and will not be responsible to anyone other than the Company for providing the protections afforded to their respective clients or for providing advice in relation to the Rights Issue or any transaction or arrangement referred to in this announcement. 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 “anticipate”, “believe”, “continue”, “estimate”, “expect”, “intends”, “may”, “should”, “will” 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 believes 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 its control. 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 information, opinions and forward-looking statements contained in this announcement speak only as at its date and are subject to change without notice. This announcement is made by and is the responsibility of, the Company. 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. No reliance may be placed for any purpose on the information contained in this announcement or its accuracy, fairness or completeness. Neither the Managers nor any of their respective affiliates accepts any liability arising from the use of this announcement.