Ensurge Micropower ASA - Registration of Share Capital Increase
Rhea-AI Summary
Ensurge Micropower ASA has successfully completed and registered a private placement of 40,000,000 new shares at NOK 1.00 per share, raising total gross proceeds of NOK 40 million. Following the capital increase, the company's share capital is now NOK 370,114,738.50, divided into 740,229,477 shares with a par value of NOK 0.50 each.
The company specializes in ultrathin, flexible solid-state lithium microbatteries for the 1-100 milliampere-hour class, targeting applications in wearables, connected sensors, and IoT devices. Their manufacturing facility in Silicon Valley combines patented process technology with roll-to-roll production methods. Arctic Securities AS served as bookrunner and manager for the private placement.
Positive
- Successfully raised NOK 40 million through private placement
- Strengthened capital structure through share issuance
Negative
- Share dilution of existing stockholders due to 40 million new shares issuance
Oslo, 27 January 2025
Reference is made to the announcement by Ensurge Micropower ASA (the "Company") on 20 January 2025 regarding a successful private placement of shares ("Private Placement"), through an allocation of 40,000,000 new shares at a subscription price of NOK 1,00 per new share for total gross proceeds of NOK 40 million.
The share capital increase has now been duly registered in the Register of Business Enterprises. Following the share capital increase, the Company's share capital is NOK 370,114,738.50 divided into 740,229,477 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.
Advisor Arctic Securities AS is acting as bookrunner and manager 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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