Ensurge Micropower ASA: Successful Completion of Fully Underwritten Private Placement

Introduction
Ensurge Micropower ASA has announced the successful completion of a fully underwritten private placement, raising NOK 60 million through the issuance of 50 million new shares. This strategic move aims to bolster the company's growth and development in the competitive battery technology market.

Key Highlights of the Private Placement

• Total Proceeds: NOK 60,000,000 raised through 50,000,000 Offer Shares.
• Offer Price: Each share was priced at NOK 1.20.
• Purpose of Funds:
  • Accelerate development of advanced battery technologies.
  • Enhance sales and marketing efforts.
  • Strengthen financial flexibility.
  • Support general corporate activities.

Underwriting Details

• Underwriters: Certain investors committed to fully underwrite the placement under a formal underwriting agreement.
• Underwriting Fee: 4.5% of the underwriting commitment, payable in the form of 2,250,000 new shares at the offer price.

Share Capital and Settlement Information

• New Share Capital: After the placement, the total share capital will reach NOK 397,606,660.50, divided into 795,213,321 shares.
• Settlement Date: Expected on or about April 15, 2025, via a share lending agreement.

Compliance and Equal Treatment

• The Board of Directors has confirmed that the Private Placement complies with the Norwegian Securities Trading Act and related regulations.
• The offering was structured to ensure a market-based subscription price, reflecting the company's commitment to equal treatment for existing shareholders.

About Ensurge Micropower

Ensurge Micropower is at the forefront of battery technology, specializing in ultrathin, flexible, and safe solid-state lithium microbatteries. These microbatteries are ideal for a variety of applications, including:

• Wearable devices (e.g., hearing aids, fitness trackers)
• Connected sensors
• Internet of Things (IoT) solutions

Located in Silicon Valley, Ensurge combines innovative technologies with scalable manufacturing processes to meet growing market demands.

Important Notices

• Disclaimer: This announcement is for informational purposes only and does not constitute an offer or solicitation of securities. The securities mentioned have not been registered under U.S. law and cannot be offered in the U.S. unless exempt. Please consult legal counsel for jurisdiction-specific regulations.

• Forward-Looking Statements: This announcement may contain forward-looking statements that are subject to risks and uncertainties. Actual results may differ materially from those anticipated.

This structured overview of Ensurge Micropower ASA’s recent private placement highlights the company's strategic initiatives and compliance with regulatory standards, providing readers with a clear understanding of the event's significance in the battery technology sector.