IDEX is pleased to announce that a Private Placement has been successfully completed and raised gross proceeds to the Company of about NOK 229 million ($27.5 million) through the allocation of 83,214,674 new shares at a price of NOK 2.75 per share.The Private Placement attracted strong interest from Norwegian, Nordic and international high-quality institutional investors and was multiple times oversubscribed.The Company intends to use the net proceeds from the Private Placement to cover expansion investments and used for general corporate purposes, and is expected to fund the Company to the commercially scalable volumes phase.Following completion of the Private Placement, the Company's share capital will be NOK 137,304,213.30 divided into 915,361,422 shares, each with a par value of NOK 0.15.Allocation to investors will be communicated on 16 February 2021. The Private Placement will be settled by the Manager on a delivery-versus-payment basis on 18 February 2021. Offer shares in the Private Placement will be settled with existing and unencumbered shares in the Company, pursuant to a share lending agreement expected to be entered into between Arctic Securities AS, certain existing shareholders and the Company (the “Share Lending Agreement”).A listing prospectus will be prepared and published in connection with the Private Placement and 29,415,423 of the new shares cannot be admitted to trading on Oslo Børs pending such publication.CFO Derek D'Antilio, who is a primary insider in IDEX, subscribed for 76,000 shares at NOK 2.75 per share. Following this transaction, Mr. D'Antilio holds 706,926 shares and 2,000,000 incentive subscription rights to shares in IDEX.