Oslo, 29 August 2023
Reference is made to the stock exchange notice published by Ensurge Micropower ASA (the "Company") on 15 August 2023 regarding the Subsequent Offering. The subscription period under the Subsequent Offering expired on 29 August 2023 at 16:30 CET, and the Subsequent Offering was substantially oversubscribed, including subscriptions from eligible shareholders, oversubscriptions, and subscriptions without subscription rights.
Further to the resolution by the Extraordinary General Meeting on 11 July 2023 and prospectus for the Subsequent Offering, the Company’s board of directors will consider the subscriptions and allocations of Offer Shares on or about 30 August 2023, following which an announcement will be made as to the number of Offer Shares to be allocated and the associated share capital increase in the Company.
Assuming the issuance of the maximum of 200,000,000 Offer Shares at a subscription price of NOK 0.10 per Offer Share, the Subsequent Offering will raise NOK 20 million. The subscribers who are allocated Offer Shares will receive a letter confirming the number of Offer Shares allocated and the corresponding amount to be paid by each subscriber. The letters are expected to be distributed on or about 30 August 2023. Payment for the allocated Offer Shares falls due on 4 September 2023.
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.
