IDEX BIOMETRICS ASA: IDEX HAS SUCCESSFULLY COMPLETED A PRIVATE PLACEMENT OF SHARES, RAISING NOK 90 MILLION (USD 10 MILLION)

08:10
Oslo, Norway, 18 November 2019: IDEX Biometrics ASA, a leading provider of
advanced fingerprint identification and authentication solutions, has
successfully obtained subscription for 120 million new shares at NOK 0.75
per share, raising NOK 90.0 million (USD 9.9 million).

This fundraising will meet the companys capital requirements and the board
expects, based on current market conditions, that these funds will take the
company through to profitability.

The new shares were placed to eight shareholders about 1 % below the
closing price at Oslo Børs on 15 November 2019. The board believes that the
private placement is an appropriate funding mechanism at the current time
and is in the best interest of the company and all of its shareholders. The
board considers it is appropriate to waive the existing shareholders
preferential right to subscribe for new shares because the placement
secures timely financing for the company while balancing shareholders
dilution and risk.

The placement is divided into two tranches. Tranche one, consisting of 55.4
million shares, will be issued as soon as practical under the boards
current authorization to issue shares in private placements. The second
tranche, consisting of 64.6 million shares, will be issued subject to
approval by an extraordinary general meeting. The board has resolved to
call an extraordinary general meeting to be held on or around 12 December
2019. A notice of the extraordinary general meeting will be issued in due
course. The company will issue a listing prospectus in connection with
tranche two.

Following the tranche one capital increase, IDEX will have a share capital
amounting to NOK 98,012,120.85 divided into 653,414,139 shares at NOK 0.15
nominal value per share. Following the tranche two capital increase, IDEX
will have a share capital amounting to NOK 107,698,309.80 divided into
717,988,732 shares at NOK 0.15 nominal value per share.

The companys strategy to be a leader in delivering fingerprint solutions
to mass markets is based on a unique flexible and cost efficient offchip
technology. Recent milestones achieved by the company highlight the
tangible progress the company has made and validates the growing demand for
biometric solutions. In the biometric payment card market, the companys
largest potential revenue opportunity, there are positive developments in
manufacturing and certification, while the companys remote enroll solution
has the potential to become the industry standard. In the access control
market, the company is seeing the beginning of shipments and design-in wins
and the company expects that both markets will see volume shipments in
2020.

Stan Swearingen, CEO of IDEX said: We are delighted to secure this funding
from existing shareholders. This funding will secure necessary capital to
meet the impending market growth and large-scale commercialization of
biometric smart cards, and enable IDEX to be a leader in the large and
growing biometric smart card market. This investment is a strong
endorsement of the significant value-creation potential of IDEXs
fingerprint biometric technology for its customers, partners, and
shareholders.

For further information contact:
Derek P. DAntilio, CPA;
Chief Financial Officer
Tel: +1978273 1344
derek.dantilio@idexbiometrics.com

Erling Svela
VP Finance
Tel: +47 4062 1040
erling.svela@idexbiometrics.com

About IDEX Biometrics
IDEX Biometrics ASA (OSE: IDEX and OTCQB: IDXAF) is a leading provider of
fingerprint identification technologies offering simple, secure and
personal authentication for all. We help people make payments, prove their
identity, gain access to information, unlock devices or gain admittance to
buildings with the touch of a finger. We invent, engineer, and
commercialize these secure, yet incredibly user-friendly solutions. Our
total addressable market represents a fast growing multi-billion-unit
opportunity.

For more information, visit www.idexbiometrics.com
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This information is subject to the disclosure requirements pursuant to
Section 5-12 the Norwegian Securities Trading Act