Ensurge Micropower ASA - Extraordinary General Meeting held on 3 December 2025

Rhea-AI Summary

Ensurge Micropower (OSE: ENMPY) held an Extraordinary General Meeting on 3 December 2025 as an electronic meeting.

The meeting approved the issuance of 27,433,079 tranche 2 shares from the private placement announced 9 November 2025, a subsequent offering of up to 22,222,222 offer shares to existing shareholders, and the issuance of 67,934,000 warrants to Corning Research & Development Corporation with an exercise price of NOK 1.50. Minutes will be posted on the company website.

Positive

• Tranche 2 shares issued: 27,433,079 approved
• Offer shares reserved: up to 22,222,222 for existing shareholders
• Warrants granted: 67,934,000 to Corning R&D at NOK 1.50

Negative

• Immediate dilution: 27,433,079 new tranche 2 shares
• Further dilution possible: up to 22,222,222 offer shares
• Potential dilution from warrants: 67,934,000 exercisable at NOK 1.50

Key Figures

Tranche 2 shares: 27,433,079 shares Subsequent offering size: Up to 22,222,222 shares Warrants issued: 67,934,000 warrants +1 more

4 metrics

Tranche 2 shares 27,433,079 shares Issuance approved in private placement Tranche 2

Subsequent offering size Up to 22,222,222 shares Offer shares to existing shareholders not in private placement

Warrants issued 67,934,000 warrants Issued to Corning Research & Development Corporation

Warrant exercise price NOK 1.50 Exercise price per warrant granted to Corning

Market Reality Check

Price: $0.3774 Vol: Volume 6,321 is 2.46x the...

high vol

$0.3774 Last Close

Volume Volume 6,321 is 2.46x the 20-day average of 2,573, indicating elevated trading interest before this EGM update. high

Technical Price at 0.35 trades below the 200-day MA of 0.46, sitting 76.67% below the 52-week high and 482.36% above the 52-week low.

Peers on Argus

ENMPY was up 1.41% pre-news with elevated volume, while peers showed mixed, gene...

ENMPY was up 1.41% pre-news with elevated volume, while peers showed mixed, generally modest moves (IEHC +4.52%, ZTSTF +2.35%, HLRTF +1.69%, others flat). Scanner data did not flag a coordinated sector move, suggesting the setup was more stock-specific than industry-driven.

Historical Context

5 past events · Latest: Dec 04 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Dec 04	Prospectus approval	Neutral	-7.8%	Regulator approved prospectus for listing and offering new placement shares.
Nov 13	Capital increase	Neutral	+0.0%	Registered Tranche 1 share capital increase from previously announced private placement.
Nov 12	EGM notice	Neutral	+12.5%	Called EGM to approve Tranche 2, subsequent offering, warrants and authorizations.
Nov 10	Ex-date notice	Neutral	+0.0%	Announced ex-date for potential repair issue/subsequent offering without final terms.
Nov 10	Ex-date notice NO	Neutral	+0.0%	Norwegian-language notice of ex-date tied to potential repair issue.

Pattern Detected

Recent news has centered on equity issuance, repair issues, and regulatory steps around a large private placement, with mixed price reactions and several neutral corporate actions producing both aligned and divergent moves.

Recent Company History

Over the last month, Ensurge’s disclosures have focused on financing and corporate actions. In November 2025, it announced and registered a private placement totaling 111,111,111 new shares for NOK 100 million, plus an ex-date for a possible repair issue. A notice on 3 December 2025’s EGM outlined Tranche 2, a subsequent offering, and Corning-related warrants. The 4 December 2025 prospectus approval further advanced listing and offering processes. Today’s EGM outcome confirms and implements these previously signaled steps.

Market Pulse Summary

This announcement confirms that the Extraordinary General Meeting approved key financing actions, in...

Analysis

This announcement confirms that the Extraordinary General Meeting approved key financing actions, including 27,433,079 Tranche 2 shares from the private placement, a subsequent offering of up to 22,222,222 shares for existing shareholders, and 67,934,000 warrants to Corning at NOK 1.50. It follows a series of November–December disclosures on the same capital raise. Investors may focus on how these issuances affect share count, future funding needs, and execution of the company’s microbattery strategy.

Key Terms

private placement, subsequent offering, warrants, exercise price

4 terms

private placement financial

"tranche 2 shares in the private placement announced on 9 November 2025"

A private placement is a way for companies to raise money by selling securities directly to a small group of investors instead of through a public offering. This process is often quicker and less regulated, making it similar to offering a special, exclusive investment opportunity to select individuals or institutions. For investors, it can provide access to unique investment options that are not available on public markets.

subsequent offering financial

"a subsequent offering of up to 22,222,222 offer shares to existing shareholders"

An subsequent offering is when a company issues and sells more of its stock after its initial public offering, similar to a bakery cutting and selling extra slices after the first batch. It matters to investors because it raises money for the business but usually reduces each existing shareholder’s percentage ownership and can put downward pressure on the share price, so investors watch the size, purpose and pricing of the sale.

warrants financial

"the issuance of 67,934,000 warrants to Corning Research & Development Corporation"

Warrants are special documents that give you the right to buy a company's stock at a set price before a certain date. They are often used as a way for companies to attract investors or raise money, and their value can increase if the company's stock price goes up.

exercise price financial

"each warrant with an exercise price of NOK 1.50"

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

AI-generated analysis. Not financial advice.

Oslo, 3 December 2025 

An Extraordinary General Meeting in Ensurge Micropower ASA (the "Company") was held today as an electronic meeting. All items on the agenda were adopted in accordance with the proposals of the Board of Directors in the notice to the Extraordinary General Meeting, including, among other things, the issuance of 27,433,079 tranche 2 shares in the private placement announced on 9 November 2025, a subsequent offering of up to 22,222,222 offer shares to existing shareholders not participating in such private placement (more details to follow in a separate stock exchange announcement), and the issuance of 67,934,000 warrants to Corning Research & Development Corporation, each warrant with an exercise price of NOK 1.50. 

The minutes from the Extraordinary General Meeting will be made available on the Company's website. 

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 the Norwegian Securities Trading Act.

FAQ

What did Ensurge Micropower (ENMPY) approve at the 3 December 2025 EGM?

The EGM approved issuance of 27,433,079 tranche 2 shares, a subsequent offering of up to 22,222,222 offer shares, and issuance of 67,934,000 warrants to Corning R&D at NOK 1.50.

How many warrants did Ensurge (ENMPY) issue and what is the exercise price?

Ensurge issued 67,934,000 warrants to Corning R&D, each with an exercise price of NOK 1.50.

What is the size of the subsequent offering approved for Ensurge (ENMPY)?

The EGM approved a subsequent offering of up to 22,222,222 offer shares to existing shareholders.

When were the tranche 2 shares in Ensurge (ENMPY) announced prior to the EGM?

The tranche 2 shares (27,433,079) were part of the private placement announced on 9 November 2025 and approved at the 3 December 2025 EGM.

Where will Ensurge (ENMPY) publish the EGM minutes and further details?

The minutes and further details will be made available on the company's website and via follow-up stock exchange announcements.