Following vesting and exercise of previously issued employee options, the board of directors of Elliptic Laboratories AS (EuroNext Growth: ELABS.OL) has resolved, based on authorization granted by the Company's general meeting, to issue 9,370 new shares for an aggregate subscription price of NOK 356,060. Following the issuance of the new shares, the Company will have 9,593,961 shares outstanding, each with a nominal value of NOK 0.10.
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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