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The latest update is out from Elliptic Laboratories AS ( (DE:EIP) ).
Elliptic Laboratories ASA has completed a substantially oversubscribed private placement of 21,050,000 new shares at NOK 2.85 per share, raising gross proceeds of about NOK 60 million in two tranches. The deal drew strong demand from new and existing investors, including board members and executives, and will increase the company’s share capital to NOK 1,263,367.65 upon full completion.
Proceeds will be used to strengthen the balance sheet and accelerate organic growth, notably the commercialization of its embedded edge AI platform and expansion into smart glasses and connected media devices while deepening its presence in laptops and smartphones. The board argues that the private placement, combined with a planned subsequent offering of up to NOK 30 million for eligible shareholders, offers a faster, lower-risk capital raise than a rights issue and serves the common interests of the company and its investors despite deviating from pre-emptive subscription rights.
The private placement is split into Tranche 1, already resolved by the board under an existing mandate, and Tranche 2, which is conditional on approval at an extraordinary general meeting expected later in March 2026. Both tranches are supported by lock-up undertakings from the company, management and board members, and existing shareholders receiving shares have pledged to vote in favour of the necessary resolutions to complete the transaction and enable the subsequent offering.
More about Elliptic Laboratories AS
Elliptic Laboratories ASA is a Norwegian technology company specializing in embedded edge AI platforms used in devices such as laptops and smartphones. The company is seeking to expand its AI-driven sensing and interaction solutions into new hardware channels, including smart glasses and connected media devices, targeting global consumer electronics and related markets.
Average Trading Volume: 426,649
Current Market Cap: NOK370.6M
For an in-depth examination of EIP stock, go to TipRanks’ Overview page.