Ensurge Micropower ASA - Cancellation of Subsequent Offering

Rhea-AI Summary

Ensurge Micropower (ENMPY) announced on 14 December 2025 that its Board has resolved to cancel the subsequent offering of up to 22,222,222 new shares at a subscription price of NOK 0.90 per share.

The Subscription Period had commenced on 5 December 2025 and the subscription price matched the private placement price announced on 9 November 2025. The company said shares traded below the subscription price for a substantial period and at sufficient volumes, allowing shareholders to buy in the market and reduce the dilutive effect from the private placement.

Ensurge is a San Jose–based microbattery technology company listed on the Oslo Stock Exchange focusing on thin-film batteries for consumer, medical, and industrial AI-enabled devices.

Positive

• Avoids issuance of 22,222,222 new shares at NOK 0.90
• Reduces immediate dilution pressure from the Subsequent Offering
• Shareholders could acquire shares in market below NOK 0.90

Negative

• Private placement announced on 9 Nov 2025 remains a dilutive action
• Shares trading below NOK 0.90 indicates limited market support

Reference is made to the stock exchange announcement published by Ensurge Micropower ASA (the “Company”) on 5 December 2025 regarding the commencement of the subscription period (the "Subscription Period") in the subsequent offering (the "Subsequent Offering") consisting of up to 22,222,222 new shares at a subscription price of NOK 0.90 per share ("Offer Shares") equal to the subscription price in the private placement announced on 9 November 2025 (the “Private Placement”).

The Board of Directors of the Company has resolved to cancel the Subsequent Offering. 

The shares have traded below the subscription price in the Subsequent Offering for a substantial period and at sufficient volumes, which means that shareholders wishing to reduce the dilutive effect of the Private Placement have therefore had the opportunity to purchase shares in the market at prices below the price which would have been the subscription price in the Subsequent Offering. 

About Ensurge Micropower: 
Ensurge (www.ensurge.com) powers the future of AI-enabled devices with advanced microbattery technology that delivers unmatched performance and safety. From its base in San Jose, California, the Company's team of battery specialists have pioneered thin-film batteries produced on high-precision roll-to-roll production processes. These innovations enable new possibilities in form-factor-constrained applications across consumer, medical, and industrial markets. Ensurge partners with leading global customers to accelerate their products to market and is listed on the Oslo Stock Exchange. For more news and information on Ensurge, please visit https://www.ensurge.com/news-room. 

For more information, please contact: 
Shauna McIntyre - Chief Executive Officer 
E- mail: shauna.mcintyre@ensurge.com

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

FAQ

Why did Ensurge Micropower (ENMPY) cancel the subsequent offering on 14 Dec 2025?

The Board cancelled the offering because shares traded below the NOK 0.90 subscription price for a substantial period and at sufficient volumes.

How many shares were included in the cancelled subsequent offering (ENMPY)?

The Subsequent Offering consisted of up to 22,222,222 new shares at NOK 0.90 per share.

Does the cancellation affect the private placement announced on 9 Nov 2025 for ENMPY?

No; the Subsequent Offering was cancelled while the private placement price referenced on 9 Nov 2025 remains the basis for the previously announced transaction.

When did the subscription period for the ENMPY Subsequent Offering start?

The Subscription Period commenced on 5 December 2025.

What does the cancellation mean for ENMPY shareholders concerned about dilution?

Cancellation prevents the additional offer issuance, and shareholders were able to buy shares in the market below the subscription price to reduce dilution.