Ensurge Micropower ASA: Financing
Ensurge Micropower ASA announced a correction to its previous press release regarding a fundraise. A participant will subscribe for 600,000 shares at NOK 3.00 per share instead of a convertible loan. This follows the Board’s authorization to issue shares from the 2022 annual general meeting. After the new issuance, the share capital will total NOK 214,561,213.02, divided into 216,728,498 shares. Ensurge specializes in solid-state lithium microbatteries for wearable devices and IoT applications, leveraging advanced manufacturing technology.
- Issuance of 600,000 shares at NOK 3.00 each enhances capital structure.
- Established manufacturing facility in Silicon Valley positions the company for growth in energy-dense rechargeable products.
- Correction of previous announcement indicates potential miscommunication issues.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN, HONG KONG OR THE UNITED STATES OF AMERICA (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OF AMERICA AND THE DISTRICT OF COLUMBIA) (THE "UNITED STATES") OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN.
Reference is made to the announcement by Ensurge Micropower ASA ("Ensurge" or the "Company") on 25 July 2022 about the ongoing fundraise in Ensurge.
By inadvertence, the announcement reflected that one participant would subscribe for a convertible loan, when, in fact, the participant had offered to subscribe for 600,000 shares at a subscription price of NOK 3.00 per share.
The Board has in place an authorization from the 2022 annual general meeting on 25 May 2022 to issue shares in private placements and has, therefore, resolved to issue 600,000 shares in a private placement to such participant with a subscription price of NOK 3.00 per share, such subscription price payable by 31 July 2022 (in addition to the 2,816,666 shares already resolved issued, as set out in the announcement on 25 July 2022).
Upon payment and registration of the share capital increase, the Company's share capital will be NOK 214,561,213.02 divided into 216,728,498 shares, each share having a par value of NOK 0.99.
For further information, please contact:
Ståle Bjørnstad - Investor Relations E-mail: stale.bjornstad@ensurge.com, Phone: +47 99 16 76 72
Kevin Barber - Chief Executive Officer E-mail: kevin.barber@ensurge.com
About Ensurge: Ensurge is Energizing Innovation(TM) with the first ultrathin, flexible, reliable, and fundamentally safe solid-state lithium microbattery for the 1-100 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.
Important information:
This announcement is not and does not form a part of any offer to sell, or a solicitation of an offer to purchase, any securities of the Company. Copies of this announcement are not being made and may not be distributed or sent into any jurisdiction in which such distribution would be unlawful or would require registration or other measures.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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