Ensurge Micropower ASA - Key information relating to possible repair issue/subsequent offering

Rhea-AI Summary

Ensurge Micropower ASA announces private placement and possible subsequent offering

Positive

• Ensurge Micropower ASA raised approximately NOK 47.5 million through a private placement of shares at a subscription price of NOK 0.10 per share
• There is a possible subsequent offering that could raise up to NOK 12.5 million at the same subscription price
• The terms and conditions of the repair issue were announced on 18 October 2023

Negative

• None.

Oslo, 18 October 2023

Reference is made to the stock exchange notice from Ensurge Micropower ASA ("Ensurge" or the "Company") on 18 October 2023 regarding a private placement of shares in the Company raising approximately NOK 47.5 million at a subscription price of NOK 0.10 per share (the "Private Placement") and a possible subsequent offering, raising up to NOK 12.5 million, at the same subscription price as in the private placement (the "Subsequent Offering"), subject to approval by an Extraordinary General Meeting to be held on or about 10 November 2023.

Date on which the terms and conditions of the repair issue were announced: 18 October 2023;
Last day including right: 18 October 2023;
Ex-date: 19 October 2023; 
Record date: 20 October 2023;
Date of approval: Expected to be on or about 10 November 2023 by resolution of an Extraordinary General Meeting (to be called); 
Maximum number of new shares: 125,000,000;
Subscription price: 0.10; 

The Subsequent Offering will be carried out as set out in an offering prospectus (which must be approved by the Norwegian Financial Supervisory Authority) to be published prior to commencement of the subscription period.

This information is published in accordance with the requirements of the Continuing Obligations.

FAQ

What is the subscription price for Ensurge Micropower ASA's private placement?

The subscription price for the private placement is NOK 0.10 per share.

How much did Ensurge Micropower ASA raise through the private placement?

Ensurge Micropower ASA raised approximately NOK 47.5 million through the private placement.

Is there a possible subsequent offering?

Yes, there is a possible subsequent offering that could raise up to NOK 12.5 million.

When is the Extraordinary General Meeting expected to be held?

The Extraordinary General Meeting is expected to be held on or about 10 November 2023.

What is the maximum number of new shares for the Subsequent Offering?

The maximum number of new shares for the Subsequent Offering is 125,000,000.

What authority must approve the offering prospectus for the Subsequent Offering?

The offering prospectus for the Subsequent Offering must be approved by the Norwegian Financial Supervisory Authority.