Brief: Ensurge Micropower: Contemplated Private Placement

Ensurge Micropower ASA

08/11/2022 15:54

Nov 8 (Reuters) - Ensurge Micropower ASA  ENSU.OL :
    * ENSURGE MICROPOWER ASA - CONTEMPLATED PRIVATE PLACEMENT
    * HAS ENGAGED SKANDINAVISKA ENSKILDA BANKEN, SPAREBANK 1
MARKETS
TO ADVISE ON, EFFECT CONTEMPLATED PRIVATE PLACEMENT OF NEW
ORDINARY SHARES IN CO, RAISING GROSS PROCEEDS OF NOK 50-70
MILLION
    * CERTAIN INVESTORS HAVE UNDERTAKEN TO SUBSCRIBE FOR AND
WILL BE
ALLOCATED SHARES IN PRIVATE PLACEMENT FOR TOTAL AMOUNT OF CIRCA
NOK 48 MILLION
    * ROBERT KEITH, ALDEN, TIGERSTADEN HAVE COLLECTIVELY
UNDERTAKEN TO
SUBSCRIBE FOR NOK 27.5 MILLION WHILE CERTAIN OTHER EXISTING, NEW
SHAREHOLDERS HAVE UNDERTAKEN TO SUBSCRIBE FOR CIRCA NOK 20
MILLION
    * NET PROCEEDS FROM PRIVATE PLACEMENT WILL BE USED TO FUND
COMPANY'S OPERATIONS AND DEVELOPMENT WORK GOING FORWARD
    * ANTICIPATES THAT AGREEMENTS WITH PARTNERS WILL
SIGNIFICANTLY
CONTRIBUTE TOWARDS COVERAGE OF CO'S CASH EXPENSES FROM Q1 2023

Source text for Eikon:  ID:nGNETvLpz 
Further company coverage:  ENSU.OL 
 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 7696600;))