IDEX Biometrics ASA (“IDEX”) has entered into an agreement with an entity managed by Heights Capital Management, Inc. to issue NOK 100 million in principal amount of senior convertible amortizing bonds. Reference is made to IDEX’s notices on 7 November 2023 regarding a non-binding term sheet for the convertible bond and 21 December 2023 regarding approval of the loan by the company’s extraordinary general meeting. Closing of the transaction is expected to occur on or about 28 December 2023.
The subscription price for the convertible bond will be at 92% of the principal amount. Interest rate is 6% pa. The initial conversion price will be NOK 0.7330 per share, which is 125% of the six-day volume weighted average price (VWAP) of the shares up to (and including) the signing date (being 22 December 2023). The conversion price is subject to customary adjustment provisions. The bond will be amortized over 3.5 years through instalments payable every two months over the tenor of the bonds, subject to the right of bondholders to defer or advance such instalments. IDEX may choose to discharge principal or interest payments in cash or by equity. If instalments are settled in shares at IDEX’ option, the conversion price will be the lower of the prevailing conversion price at the time and 90% of the market price of the share at the payment date. The bonds may be subject to investor redemption option upon change of control.
Contact person
Marianne Bøe, Head of Investor Relations
E-mail: marianne.boe@idexbiometrics.com
Tel: +47 9180 0186
About IDEX Biometrics
IDEX Biometrics ASA (OSE: IDEX) is a global technology leader in fingerprint biometrics, offering authentication solutions across payments, access control, and digital identity. Our solutions bring convenience, security, peace of mind and seamless user experiences to the world. Built on patented and proprietary sensor technologies, integrated circuit designs, and software, our biometric solutions target card-based applications for payments and digital authentication. As an industry-enabler we partner with leading card manufacturers and technology companies to bring our solutions to market.
For more information, visit www.idexbiometrics.com
About this notice
This notice discloses inside information pursuant to the EU Market Abuse Regulation and was published by Erling Svela, Vice president of finance, on 26 December 2023 at 23:59 CET on behalf of IDEX Biometrics ASA. The notice is published in accordance with section 5-12 the Norwegian Securities Trading Act.
