Ensurge Micropower ASA - Registration of Share Capital Increase

Rhea-AI Summary

Ensurge Micropower ASA has announced the registration of a share capital increase following the conversion of a NOK 6,000,000 convertible loan plus accrued interest into 12,439,921 new shares. This has been officially registered in the Register of Business Enterprises. The company's share capital now stands at NOK 308,951,604.50, divided into 617,903,209 shares, each with a par value of NOK 0.50.

Ensurge Micropower is pioneering in the development of ultrathin, flexible, and safe solid-state lithium microbatteries for devices ranging from wearables to IoT sensors. Their Silicon Valley facility uses advanced roll-to-roll production methods to meet market demands.

Positive

• Successful conversion of NOK 6,000,000 convertible loan into equity.
• Increase in share capital to NOK 308,951,604.50.
• Addition of 12,439,921 new shares.
• State-of-the-art manufacturing facility in Silicon Valley.
• Innovative technology in ultrathin, flexible lithium microbatteries.

Negative

• Potential shareholder dilution with the issuance of 12,439,921 new shares.
• The par value of shares remains relatively low at NOK 0.50.

Oslo, 04 June 2024 

Reference is made to the announcement by Ensurge Micropower ASA (the "Company") on 24 May 2024 regarding conversion of a convertible loan in the amount of NOK 6,000,000 (“Convertible Loan”), plus accrued interest, and the resulting issuance of a total of 12,439,921 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 308,951,604.50 divided into 617,903,209 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

What is the impact of the share capital increase for Ensurge Micropower (ENMPY)?

The share capital increase following the conversion of a NOK 6,000,000 loan has resulted in the issuance of 12,439,921 new shares, increasing the company's share capital to NOK 308,951,604.50.

How many shares does Ensurge Micropower (ENMPY) have after the capital increase?

After the capital increase, Ensurge Micropower now has 617,903,209 shares.

What is the par value of Ensurge Micropower (ENMPY) shares after the capital increase?

Each share of Ensurge Micropower has a par value of NOK 0.50 following the capital increase.

What is the purpose of the convertible loan conversion for Ensurge Micropower (ENMPY)?

The convertible loan conversion aims to boost the company's share capital by converting NOK 6,000,000 of debt plus accrued interest into equity, resulting in the issuance of new shares.

What technology does Ensurge Micropower (ENMPY) specialize in?

Ensurge Micropower specializes in ultrathin, flexible, and safe solid-state lithium microbatteries suitable for wearable devices, IoT sensors, and more.