Ensurge Micropower Asa Stock Price, News & Analysis

Ensurge Micropower ASA has announced a potential repair issue, with the ex-date set for September 20, 2024. This information has been made public in accordance with the requirements of the Continuing Obligations. The company has not provided additional details about the nature or scope of the potential repair issue at this time.

Ensurge Micropower ASA has announced a private placement of shares raising NOK 75 million at a subscription price of NOK 1 per share. Additionally, the company is considering a subsequent offering to raise up to NOK 11.5 million at the same subscription price, subject to approval by an Extraordinary General Meeting expected to be held on or about 14 October 2024.

Key dates for the potential subsequent offering include:

• Announcement date: 19 September 2024
• Last day including right: 19 September 2024
• Ex-date: 20 September 2024
• Record date: 23 September 2024

Ensurge Micropower ASA has successfully completed a private placement, raising NOK 75 million through the issue of 75 million new shares at NOK 1 per share. The placement, which was oversubscribed, will be divided into two tranches: Tranche 1 with 61,790,320 shares and Tranche 2 with 13,209,680 shares. The proceeds will fund a 25% increase in operations personnel and capital expenditures to enhance production capacity. The company expects additional funding from joint development agreements, battery sales, and license agreements in the next 3-9 months.

Following the placement, Ensurge's share capital will be NOK 348,613,173, divided into 697,226,346 shares. The company plans to propose a subsequent offering of up to NOK 11.5 million to eligible shareholders who did not participate in the private placement, subject to approval at an extraordinary general meeting scheduled for around October 14, 2024.

Ensurge Micropower ASA (ENMPY) is contemplating a private placement of 50-75 million new ordinary shares at NOK 1.0 per share. The placement may be divided into two tranches, with Tranche 1 consisting of 61,790,320 shares. DNB Asset Management has committed NOK 5,000,000 to the placement. The company plans to use the proceeds to fund operations, including a 25% increase in personnel and capital expenditures for production line changes. Ensurge expects additional funding from various sources over the next 3-9 months. The bookbuilding period is from September 19-20, 2024. A subsequent offering may be considered for existing shareholders who didn't participate in the private placement.

Ensurge Micropower (OSE: ENSU, OTCQB: ENMPY) has shipped sample batteries to the U.S. Department of Energy as part of phase 2 of their Micro battery design competition. The company submitted a variety of coin cells and assembled multilayer stacked batteries built on 10um stainless steel substrate. CEO Lars Eikeland stated that these samples showcase both the battery technology and the maturity of Ensurge's manufacturing process.

Ensurge is making significant progress in reaching battery performance targets while optimizing yield and encapsulation to increase cycle life, enabling higher battery stacking. The company was a phase 1 finalist in the competition and received a USD 75,000 award in November 2023.

Ensurge Micropower ASA (ENMPY) has registered a share capital increase following the exercise of 16,000 vested incentive subscription rights and the issuance of 2,216,074 shares under its 2024 Employee Share Purchase Plan. The company's updated share capital is NOK 311,113,173, divided into 622,226,346 shares with a par value of NOK 0.50 each.

Ensurge specializes in ultrathin, flexible solid-state lithium microbatteries for the 1-100 mAh class, targeting wearables, connected sensors, and IoT devices. Their innovative technology enables energy-dense rechargeable products ideal for form-factor-constrained applications. The company operates a state-of-the-art manufacturing facility in Silicon Valley, combining patented process technology with roll-to-roll production methods.

Ensurge Micropower ASA has issued a correction to its 2 September 2024 announcement regarding a subscription rights exercise and the 2024 Employee Share Purchase Plan (ESPP). The corrected figures show 2,216,074 new shares issued under the ESPP. Upon registration, the company's share capital will be NOK 311,113,173, divided into 622,226,346 shares with a par value of NOK 0.50 each.

The ESPP allows eligible participants to subscribe for shares, with offering periods aligned with financial result disclosures. Employees can contribute up to 20% of their gross salary, with a minimum total of NOK 6,000 per offering period. The board's resolution to issue new shares is based on the authorization granted at the annual general meeting on 14 May 2024.

Ensurge Micropower specializes in ultrathin, flexible solid-state lithium microbatteries for various applications, including wearables and IoT sensors.

Ensurge Micropower ASA has issued a mandatory notice of trade for a primary insider. The company announced that CEO/CFO Lars Eikeland was issued shares under the company's Employee Share Purchase Plan (ESPP). This transaction is subject to disclosure requirements as per section 5-12 of the Norwegian Securities Trading Act. The company has provided an attached form with further details about the transaction. This announcement reflects standard corporate governance practices for publicly traded companies in Norway, ensuring transparency in insider trading activities.

Ensurge Micropower ASA (ENMPY) has announced two significant developments: the exercise of 16,000 vested incentive subscription rights by an employee, and the issuance of 2,216,081 ordinary shares under the company's 2024 Employee Share Purchase Plan (ESPP). The subscription rights were exercised at NOK 0.950 per share, while the ESPP shares were issued at an average price of NOK 1.1334 per share.

Notably, CEO and CFO Lars Eikeland acquired 664,228 ordinary shares at NOK 0.9875 per share through the ESPP. The ESPP allows eligible participants to invest up to 20% of their gross salary or service fee in company shares during two offering periods each year. Following these transactions, Ensurge Micropower's share capital will be NOK 311,113,176.50, divided into 622,226,353 shares with a par value of NOK 0.50 each.