Following vesting and exercise of previously issued employee options, the board of directors of Elliptic Laboratories AS (the "Company") has resolved, based on the authorization granted by the Company's general meeting on 6 May 2021, to increase the Company's share capital by NOK 4,740, by the issuance of 47,400 shares, for an aggregate subscription price of NOK 1,801,200. Following registration of the share capital increase pertaining to the share issue, the Company will have 9,641,361 shares outstanding, each with a nominal value of NOK 0.10.
For further queries, please contact: Lars Holmøy, CFO, [email protected]
This information is subject to the disclosure requirements pursuant to the Euronext Growth Rule Book part II.
About Elliptic Labs
Elliptic Labs is headquartered in Norway with presence in the USA, China, South-Korea, Taiwan, and Japan. Founded in 2006 as a research spin-off from Norway's Oslo University, Elliptic Labs filed its IPO with the Euronext Growth Market in October, 2020. Elliptic Labs is now a global enterprise targeting the smartphone, laptop, IoT, and automotive markets. The Company's patented AI software combines ultrasound and sensor-fusion algorithms to deliver intuitive 3D gesture, proximity, and presence sensing experiences. Its scalable AI Virtual Smart Sensor Platform creates software-only sensors that are sustainable, eco-friendly, and already deployed in over 150 million devices. Elliptic Labs is the only software company in the market that has delivered detection capabilities using AI software, ultrasound and sensor-fusion deployed at scale. Elliptic Labs' technology and IP are developed in Norway and solely owned by the Company.
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