Reference is made to the stock exchange notice by Elliptic Laboratories AS (the "Company") on 8 September 2021 regarding completion of a private placement of new and existing shares with a total transaction size of NOK 166 million.
The following primary insiders and close associates have carried out the following transactions in connection with the private placement:
- Passesta AS, a company owned by the chairman of the board Tore Engebretsen and his immediate family, has acquired 33 632 shares for an aggregate subscription price of approximately NOK 7.5 million. After the transaction and upon completion of the private placement, Passesta AS and Tore Engebretsen own 1 228 048 shares, equal to approximately 11.91% of the Company's shares and votes.
- J12 Invest AS, a company owned by the CFO Lars Holmøy has acquired 2 242 shares for an aggregate subscription price of NOK 0.5 million. After the transaction and upon completion of the private placement, J12 Invest AS and Lars Holmøy own 3 742 shares, equal to approximately 0.04% of the Company's shares and votes. In addition, Lars Holmøy has 81 500 share options in the Company.
- The CEO, Laila Danielsen, has sold 67 265 shares with gross proceeds of approximately NOK 15 million. After the transaction and upon completion of the private placement, Laila Danielsen owns 462 415 shares, equal to approximately 4.48% of the Company's shares and votes.
- Vicuri AS, a company owned by the Executive Vice-President of Engineering, Espen Klovning, has sold 4 484 shares with gross proceeds of approximately NOK 1 million. After the transaction and upon completion of the private placement, Espen Klovning and Vicuri AS own 17 475 shares, equal to approximately 0.17% of the Company's shares and votes. In addition, Espen Klovning has 78 549 share options in the Company.
See the enclosed forms for further details about the transactions.
This information is subject to the disclosure requirements in Regulation EU 596/2014 (MAR) article 19 number 3 and section 5-12 of the Norwegian Securities Trading Act.
For further queries, please contact:
Lars Holmøy, CFO, [email protected]
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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