Ensurge Micropower ASA – Grant of Incentive Subscription Rights

Rhea-AI Summary

Ensurge Micropower ASA has announced the grant of 80,000 incentive subscription rights to US employees on February 3, 2025. The grant, made under the company's 2024 incentive subscription rights plan, features an exercise price of NOK 0.969 per share. The subscription rights will vest in two equal portions: 50% after one year and 50% after two years from the grant date, with an expiration date of May 14, 2029.

Ensurge specializes in developing ultrathin, flexible solid-state lithium microbatteries for the 1-100 milliampere-hour (mAh) market. Their technology targets applications in wearables, connected sensors, and IoT devices. The company operates a manufacturing facility in Silicon Valley, combining patented process technology with roll-to-roll production methods.

The Board of Directors of Ensurge Micropower ASA (the "Company") resolved on 3 February 2025 to grant a total of 80,000 incentive subscription rights to certain US employees in the Ensurge group. The grant was made under the Company's 2024 incentive subscription rights plan, as resolved at the Annual General Meeting on 14 May 2024. The exercise price of the subscription rights is calculated to NOK 0.969 per share. 

50% of the subscription rights will vest on the one-year anniversary of the date of grant, and the remaining 50% will vest on the two-year anniversary of the date of grant. The subscription rights expire on 14 May 2029. 

The subscription rights otherwise follow the terms and conditions of the 2024 subscription rights incentive plan. 

About Ensurge Micropower: 

Ensurge is Energizing Innovation (TM) with the first ultrathin, flexible, reliable, and fundamentally safe solid-state lithium microbattery for the 1 to 100 milliampere-hour (mAh) class of wearable devices, connected sensors, and beyond. The innovative Ensurge Microbattery enables energy-dense rechargeable products that are ideal for form-factor-constrained applications including hearables (hearing aids and wireless headphones), digital and health wearables, sports and fitness devices, and IoT sensor solutions that use energy harvesting to power everyday things. The company's state-of-the-art manufacturing facility, located in the heart of Silicon Valley, combines patented process technology and materials innovation with the scale of roll-to-roll production methods to bring the advantages of Ensurge technology to established and expanding markets. 

For more information, please contact: Lars Eikeland, Chief Executive Officer E- mail: lars.eikeland@ensurge.com (mailto:lars.eikeland@ensurge.com) 

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

FAQ

What are the vesting terms for Ensurge Micropower's (ENMPY) February 2025 subscription rights grant?

The subscription rights vest in two equal portions: 50% after one year and 50% after two years from the February 3, 2025 grant date.

What is the exercise price for Ensurge Micropower's (ENMPY) 2025 subscription rights?

The exercise price for the subscription rights is NOK 0.969 per share.

When do Ensurge Micropower's (ENMPY) February 2025 subscription rights expire?

The subscription rights expire on May 14, 2029.

How many incentive subscription rights did Ensurge Micropower (ENMPY) grant in February 2025?

Ensurge Micropower granted a total of 80,000 incentive subscription rights to US employees.

What market segment does Ensurge Micropower's (ENMPY) microbattery technology target?

Ensurge's microbatteries target the 1-100 milliampere-hour (mAh) class of devices, including hearables, wearables, and IoT sensor solutions.