Absolute Announces Closing of US$69 Million Public Offering of Common Shares, Including Full Exercise of Underwriters’ Over-Allotment Option

Absolute Software Corporation (“Absolute”) (Nasdaq:ABST; TSX:ABST), a leader in Endpoint Resilience solutions, today announced that it has completed its previously announced underwritten public offering in the United States and Canada (the “Offering”) of 6,272,727 common shares (“Common Shares”), which includes the previously announced full exercise of the underwriters’ over-allotment option to purchase an additional 818,181 Common Shares, at a price of US$11.00 per Common Share, for aggregate gross proceeds to Absolute of approximately US$69 million.

Absolute’s Common Shares are now dual-listed on the Nasdaq Global Select Market and the Toronto Stock Exchange under the trading symbol “ABST”.

The Offering was made in Canada pursuant to a prospectus supplement (the “Supplement”) to Absolute’s short form base shelf prospectus dated August 27, 2020 (the “Base Prospectus”) and in the United States pursuant to a registration statement on Form F-10, as amended, which went effective with the U.S. Securities and Exchange Commission (the “SEC”) on October 28, 2020, containing the Supplement and Base Prospectus, and which was filed with the SEC in accordance with the Multijurisdictional Disclosure System established between Canada and the United States.

Absolute intends to use the net proceeds of the Offering for general corporate purposes, including to fund ongoing operations, to fund growth initiatives, and/or for working capital requirements, as set out in the Supplement.

Needham & Company and Canaccord Genuity acted as joint book-running managers and Raymond James acted as passive book-running manager for the Offering.

The Supplement and the accompanying Base Prospectus contain important detailed information about the Offering. The Supplement and the accompanying Base Prospectus can be found on SEDAR at www.sedar.com, on EDGAR at www.sec.gov and on the Company’s website at www.absolute.com. Copies of the Supplement and accompanying Base Prospectus may also be obtained from Absolute, email to [e-mail], or you may request them from:

• Needham & Company, LLC, Attention: Prospectus Department, 250 Park Avenue, 10^th Floor, New York, NY 10177, by telephone at 800-903-3268;
• Canaccord Genuity LLC, Attention: Syndicate Department, 99 High Street, 12^th Floor, Boston MA 021990, by email at [e-mail]; or
• Raymond James & Associates, Inc., Attention: Equity Syndicate, 880 Carillon Parkway, St. Petersburg, FL 33716, by telephone at 800-248-8863, by email at [e-mail].

No regulatory authority or stock exchange has either approved or disapproved the contents of this press release. This press release will not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of Common Shares, in any province, state, or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to the registration or qualification under the applicable securities laws of any such province, state, or jurisdiction.