Ensurge Micropower ASA - Subscription Rights Exercise
Rhea-AI Summary
Ensurge Micropower ASA (ENMPY) has announced the exercise of 405,000 vested incentive subscription rights by an employee. The rights, granted under the 2022 and 2023 Subscription Rights Plans, include 125,000 rights at NOK 0.915 per share and 280,000 rights at NOK 0.50 per share.
Following the registration of the share capital increase, the company's share capital will be NOK 418,592,660.50, divided into 837,185,321 shares with a par value of NOK 0.50 each. Ensurge specializes in ultrathin, flexible solid-state lithium microbatteries, with operations based in Silicon Valley and production facilities focused on prototyping and small-scale manufacturing.
Positive
- Development of innovative ultrathin, flexible solid-state lithium microbattery technology
- Strategic presence in Silicon Valley with 40 specialized employees
- Strong financial backing from reputable Norwegian investors
Negative
- Production facilities limited to prototyping and small-scale manufacturing
- Dependency on future outsourcing partnerships for large-scale production
News Market Reaction – ENMPY
On the day this news was published, ENMPY declined 3.67%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Ensurge Micropower ASA (the "Company") has received notice of exercise of in total 405,000 vested incentive subscription rights from an employee of the Company.
The vested incentive subscription rights were granted under the Company's 2022 Subscription Rights Plan and 2023 Subscription Rights Incentive Plan. Of the 405,000 subscription rights, 125,000 have an exercise price per share of NOK 0.915, and 280,000 have an exercise price per share of NOK 0.50.
The Board has resolved to approve such exercise and the resulting issuance of 405,000 new shares in the Company. Upon registration of the share capital increase associated with the exercise of incentive subscription rights in the Norwegian Register of Business Enterprises, the Company's share capital will be NOK 418,592,660.50 divided into 837,185,321 shares, each having a par value of NOK 0.50.
About Ensurge Micropower
Ensurge is energizing innovation with the first ultrathin, flexible, reliable, and fundamentally safe solid-state lithium microbattery.
With a workforce of forty top-tier specialists based in the world's technology capital, Silicon Valley, Ensurge has developed a future-oriented and innovative microbattery technology. The microbattery is ideal for form-factor-constrained applications, including hearables, 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 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.
Ensurge's production facilities are optimized for prototyping and small-scale manufacturing. To scale efficiently, we aim to outsource the production of the resulting intellectual property (IP) to specialized partners with industrial manufacturing expertise.
Ensurge is listed on the Norwegian stock exchange and is financed out of Norway by strong and reputable financial investors, reflecting both a strategic investment and a robust transatlantic collaboration.
For more information:
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 the Norwegian Securities Trading Act
FAQ
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