ENSURGE MICROPOWER S/ADR - ENMPY STOCK NEWS

Ensurge Micropower ASA has announced a possible repair issue or subsequent offering, with an ex-date set for 14 May 2024. This announcement falls under the obligations of continuing requirements. The company aims to address any potential issues that might arise, ensuring smooth operations and maintaining investor confidence. Further details are expected as the date approaches.

Ensurge Micropower ASA announced an upcoming potential repair issue, set to occur on May 14, 2024. This move is in response to the company's ongoing obligations and is intended to address and rectify previous share issuance conditions. It aims to provide existing shareholders the opportunity to subscribe for additional shares under the same conditions as the initial issuance. The repair issue seeks to ensure fairness and maintain shareholder value amidst recent stock performance fluctuations.

Ensurge Micropower announced a private placement, raising approximately NOK 85 million at NOK 1.55 per share. Additionally, a subsequent offering aims to raise up to NOK 21,250,000 at the same price, pending approval at an Extraordinary General Meeting on 6 June 2024. Key dates include the announcement on 13 May 2024, the ex-date on 14 May 2024, and the record date on 15 May 2024. The maximum number of new shares for the subsequent offering is 13,709,677. The offering prospectus will be published before the subscription period begins, subject to approval by the Norwegian Financial Supervisory Authority.

On May 13, 2024, Ensurge Micropower announced the successful completion of a private placement, raising NOK 84.9 million from the allocation of 54.8 million shares at a price of NOK 1.55 per share. The placement, overseen by Skandinaviska Enskilda Banken as the manager, saw a threefold oversubscription. The generated funds will support Ensurge's operational activities, focusing on Go-To-Market strategies and production increase. The company's share capital will now be NOK 302.7 million, split into 605.5 million shares. The private placement's completion depends on corporate resolutions and regulatory approvals. Additionally, a subsequent offering of up to NOK 21.25 million is proposed, targeted at existing shareholders who did not participate in the initial placement.

Ensurge Micropower ASA is hosting a Company update presentation with the Chairman of the Board after the Annual General Meeting on Tuesday, May 14, 2024. The company is revolutionizing the industry with its ultrathin, flexible, and safe solid-state lithium microbattery for wearable devices and connected sensors. The presentation will provide valuable insights into the company's innovations and future plans.

Ensurge Micropower ASA is contemplating a private placement of up to 54,775,545 new ordinary shares to fund operations and production ramp up. The company's Q1 2024 report highlights a revenue of USDk 20, operating costs of USDk 3,278, and a cash position of USDk 4,893. The Private Placement aims to raise capital efficiently, with a potential subsequent offering to limit dilution and ensure equal treatment of shareholders.

Ensurge Micropower ASA's Nomination Committee has proposed an agenda for the upcoming Annual General Meeting on 14th May 2023. Ensurge Micropower is a company specializing in innovative solid-state lithium microbatteries, catering to wearable devices, connected sensors, and other applications. The company's cutting-edge technology and manufacturing processes aim to revolutionize the energy storage industry.

Ensurge Micropower ASA recently approved its annual report and financial statements for 2023, with a focus on transitioning into commercial operations to generate profits through direct revenue, licensing agreements, and royalties. The company plans to escalate operations to meet the demands of the fitness ring market and start deliveries on existing orders. Ensurge has pioneered Solid State Lithium Battery (SSLB) technology, positioning itself to potentially lead the global market in battery technology for all electronics. The company has solved manufacturing challenges associated with SSLB and is now focusing on enhancing energy density and cost reductions for broader market accessibility.

Ensurge Micropower ASA granted 202,200 incentive subscription rights to employees in the Ensurge group under the 2023 plan. The exercise price is NOK 1.2640 per share, expiring on 24 May 2028. Total incentive subscription rights issued and outstanding are 46,057,881.