Ensurge Micropower ASA - Registration of Share Capital Increase
Rhea-AI Summary
Ensurge Micropower ASA has announced the successful registration of a share capital increase associated with Tranche 1 of its recent private placement. The company's updated share capital is now NOK 342,008,333, divided into 684,016,666 shares, each with a par value of NOK 0.50. This follows the private placement announced on September 19, 2024, which raised total gross proceeds of NOK 75 million through the allocation of 61,790,320 new shares in Tranche 1 and 13,209,680 new shares in Tranche 2.
Ensurge Micropower specializes in developing ultrathin, flexible, and safe solid-state lithium microbatteries for various applications, including wearable devices and IoT sensors. The company's manufacturing facility in Silicon Valley combines patented process technology with roll-to-roll production methods.
Positive
- Successful completion of private placement raising NOK 75 million
- Registration of share capital increase for Tranche 1
- Expansion of company's share capital to NOK 342,008,333
Negative
- Potential dilution of existing shareholders due to issuance of new shares
Oslo, 27 September 2024
Reference is made to the announcement by Ensurge Micropower ASA (the "Company") on 19 September 2024 regarding a successful private placement of shares ("Private Placement"), through an allocation of 61,790,320 new shares in Tranche 1 and an allocation of 13,209,680 new shares in Tranche 2, for total gross proceeds (i.e. both tranches) of NOK 75 million.
The share capital increase associated with Tranche 1 has now been duly registered in the Register of Business Enterprises. Following the share capital increase, the Company's share capital is NOK 342,008,333 divided into 684,016,666 shares, each share having a par value of NOK 0.50.
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.
Advisors
Arctic Securities and Skandinaviska Enskilda Banken AB (publ) are acting as joint bookrunners in connection with the Private Placement. Ræder Bing advokatfirma AS is acting as the Company's legal advisor. Advokatfirmaet Thommessen AS is acting as legal advisor to the Managers.
For more information, please contact:
Lars Eikeland - Chief Executive Officer
E-mail: lars.eikeland@ensurge.com
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
FAQ
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