Reference is made to the stock exchange announcement published on 15 June 2023 by Ensurge Micropower ASA ("Ensurge" or the "Company"), regarding the successful placement of new shares, through an allocation of 74,422,849 new shares in Tranche 1 (the “Tranche 1 Shares”) and an allocation of 409,817,412 new shares in Tranche 2 (the “Tranche 2 Shares”), as well as a possible subsequent repair offering raising up to NOK 20 million through the offering of up to 200,000,000 shares (the "Offer Shares") on similar terms as the private placement (the "Subsequent Offering"). As stated in the stock exchange announcement on 15 June 2023, the Subsequent Offering and the trading of the Tranche 2 Shares remained subject to approval of a prospectus by the Financial Supervisory Authority of Norway.
Further reference is made to the Extraordinary General Meeting held on 11 July 2023 approving the issuance of the Tranche 2 Shares and the Subsequent Offering, as well as the amendment of the terms of the convertible loans issued by the Company pursuant to resolution by the Extraordinary General Meeting dated 17 August 2022 (the “Convertible Loans”).
The Financial Supervisory Authority of Norway has approved the prospectus, which has been prepared by the Company for the listing on Oslo Børs of the Tranche 2 Shares and the listing of up to 467,900,000 shares that may be issued upon conversion of Convertible Loans in the Company, and the offering of the Offer Shares in the Subsequent Offering (the “Prospectus”).
The Prospectus is attached hereto and is available at https://ensurge.com/investor-relations/share-information/prospectus/. Printed copies of the Prospectus may be obtained free of charge at the offices of the Company's law firm Advokatfirmaet Ræder AS.
As a result of the above, the subscription period for the Subsequent Offering starts on 15 August 2023 and expires on 29 August 2023 at 16:30 CET. For further information on the Subsequent Offering, please refer to the Prospectus.
Advisors
SpareBank 1 Markets AS acts as manager in connection with the Subsequent Offering (the "Manager”). Advokatfirmaet Ræder AS is acting as the Company's legal advisor. Advokatfirmaet Thommessen AS is acting as legal advisor to the Manager.
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:
Terje Rogne, Chairman
Phone: +47 472 02 200
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
