Ensurge Micropower ASA – Cancellation of Subsequent Offering
27 Juin 2024 - 10:49PM
UK Regulatory
Ensurge Micropower ASA – Cancellation of Subsequent Offering
Oslo, 27 June 2024
Reference is made to the stock exchange notice
published by Ensurge Micropower ASA (the "Company") on 13 May 2024
regarding the completion of a private placement raising gross
proceeds of approximately NOK 85 million (the "Private Placement")
and a potential subsequent offering on the same terms and
conditions as in the Private Placement directed towards eligible
shareholders (the "Subsequent Offering").
The board of directors of the Company has
decided not to proceed with the Subsequent Offering.
The background for the cancellation is that the
Company's shares have traded below the subscription price in the
Private Placement for a substantial period and at sufficient
volumes. Shareholders wishing to reduce the dilutive effect of the
Private Placement have therefore had the opportunity to purchase
shares in the market at prices below the price which would have
been the subscription price in the Subsequent Offering.
Further to this, the Board withdraws the
proposed resolution for a subsequent offering at the Extraordinary
General Meeting scheduled for 1 July 2024 at 09.00 am CET and the
notice of such general meeting is amended accordingly. The
Extraordinary General Meeting will be held as scheduled to consider
the other agenda items.
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
(mailto:lars.eikeland@ensurge.com)
This information is subject to the disclosure
requirements pursuant to section 5-12 of the Norwegian Securities
Trading Act.
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