Ensurge Micropower ASA - Approval and publication of prospectus

Rhea-AI Summary

Ensurge Micropower ASA has received approval from the Financial Supervisory Authority for its prospectus related to a private placement of 75,000,000 new shares and a subsequent offering of up to 11,500,000 new shares. The subscription period for the Subsequent Offering will run from November 7 to November 21, 2024. The private placement was divided into two tranches, with Tranche 2 receiving approval at the Extraordinary General Meeting on October 14, 2024. Skandinaviska Enskilda Banken AB and Arctic Securities AS served as financial advisors for the offerings.

Positive

• Successfully completed private placement of 75,000,000 new shares
• Received regulatory approval for share offerings
• Secured additional funding through subsequent offering of 11,500,000 shares

Negative

• Potential dilution of existing shareholders through new share issuances

Oslo,5 November 2024 

Reference is made to the stock exchange announcement published by Ensurge Micropower ASA ("Ensurge" or the "Company") on 19 September 2024 regarding the successful private placement of 75,000,000 new shares ("Private Placement" and the “Private Placement Shares”), divided into Tranche 1 and Tranche 2, and the possible subsequent offering of up to 11,500,000 new shares (the “Subsequent Offering” and the “Subsequent Offering Shares”). Tranche 2 of the Private Placement and the Subsequent Offering was subject to approval by the Extraordinary General Meeting of the Company held on 14 October 2024. Such approval was obtained.

As stated in the stock exchange announcement on 19 September 2024, the listing of the Private Placement Shares and the offering and listing of the Subsequent Offering Shares remain subject to approval of a prospectus ("Prospectus") by the Financial Supervisory Authority ("FSA") and the subsequent publication by the Company of such Prospectus.

The FSA has approved the Prospectus, which has been prepared by the Company for the listing on Oslo Børs of the Private Placement Shares and the offering and listing of the Subsequent Offering Shares. 

As a result of the above, the subscription period for the Subsequent Offering starts on 7 November 2024 and expires on 21 November 2024 at 16:30 CET. For further information on the Subsequent Offering, please refer to the Prospectus.

The Prospectus is attached hereto and will be available on the Company’s website at https://www.ensurge.com/investors/financial-and-other-reports/prospectus. Printed copies of the Prospectus may be obtained free of charge at the offices of the Company's law firm Ræder Bing advokatfirma AS. 

Skandinaviska Enskilda Banken AB (publ) and Arctic Securities AS acted as financial advisor and bookrunner in connection with the Private Placement and the Subsequent Offering (the "Managers"). Ræder Bing advokatfirma AS acted as the Company's legal advisor. Advokatfirmaet Thommessen AS acted as legal advisor to the Managers. 

About Ensurge Micropower ASA:
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.

Attachment

• 2024-11-05 Prospectus - Ensurge Micropower ASA - Final Version

FAQ

When does the subscription period for Ensurge Micropower's (ENMPY) subsequent offering begin and end?

The subscription period starts on November 7, 2024, and expires on November 21, 2024, at 16:30 CET.

How many new shares were issued in Ensurge Micropower's (ENMPY) private placement?

Ensurge Micropower issued 75,000,000 new shares in the private placement.

When did Ensurge Micropower (ENMPY) receive approval for Tranche 2 of the private placement?

Tranche 2 of the private placement was approved at the Extraordinary General Meeting held on October 14, 2024.