Ensurge Micropower ASA - Registration of Share Capital Increase

Rhea-AI Summary

Ensurge Micropower ASA (ENMPY) has announced the registration of a share capital increase following the conversion of a NOK 1,000,000 convertible loan plus accrued interest. This resulted in the issuance of 2,091,063 new shares. The company's updated share capital is now NOK 309,997,136, divided into 619,994,272 shares, each with a par value of NOK 0.50.

Ensurge specializes in developing ultrathin, flexible, and safe solid-state lithium microbatteries for the 1-100 mAh class. These innovative batteries are designed for wearable devices, connected sensors, and IoT applications. The company's manufacturing facility in Silicon Valley combines patented process technology with roll-to-roll production methods to bring their technology to market.

Positive

• Successful conversion of NOK 1,000,000 convertible loan into equity
• Increase in total number of shares by 2,091,063
• Strengthened balance sheet through debt-to-equity conversion

Negative

• Potential dilution of existing shareholders' ownership due to new share issuance

Oslo, 5 August 2024 

Reference is made to the announcement by Ensurge Micropower ASA (the "Company") on 25 July 2024 regarding conversion of a convertible loan in the amount of NOK 1,000,000 ("Convertible Loan"), plus accrued interest, and the resulting issuance of a total of 2,091,063 new shares in the Company. 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 309,997,136 divided into 619,994,272 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. 

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

How many new shares did Ensurge Micropower (ENMPY) issue on August 5, 2024?

Ensurge Micropower (ENMPY) issued 2,091,063 new shares on August 5, 2024, as a result of converting a NOK 1,000,000 convertible loan plus accrued interest.

What is Ensurge Micropower's (ENMPY) new share capital after the August 2024 increase?

After the share capital increase in August 2024, Ensurge Micropower's (ENMPY) new share capital is NOK 309,997,136, divided into 619,994,272 shares, each with a par value of NOK 0.50.

What type of batteries does Ensurge Micropower (ENMPY) specialize in?

Ensurge Micropower (ENMPY) specializes in ultrathin, flexible, and safe solid-state lithium microbatteries for the 1 to 100 milliampere-hour (mAh) class, designed for wearable devices, connected sensors, and IoT applications.

Where is Ensurge Micropower's (ENMPY) manufacturing facility located?

Ensurge Micropower's (ENMPY) state-of-the-art manufacturing facility is located in the heart of Silicon Valley, California.