Invesco funds exercise warrants, invests NOK 225 million (circa USD 26 million) in IDEX
Funds managed by Invesco Asset Management Limited, a leading global investor, has given notice of exercise of 30 million warrants for shares in IDEX ASA, at NOK 7.50 per share, investing NOK 225 million in the company.
The warrants were issued in the first quarter of 2014, when the Invesco funds acquired 60 million shares in IDEX, investing NOK 300 million at that time.
“This significant investment is a strong vote of confidence in IDEX from a high quality investor such as Invesco,” said IDEX’s CEO Hemant Mardia. He added that “This investment will further strengthen our balance sheet, and enable IDEX to accelerate the commercialisation of our high performance sensor to the mobile and card markets.”
The board of IDEX has resolved to issue the shares to Invesco, and following the share issue, the company’s share capital will be NOK 75,713,912.40 divided into 504,759,416 registered shares each with a nominal value of NOK 0.15.
17 November 2015
Hemant Mardia, CEO, +44 7788 922 171, hm(at)idexbiometrics.com
Henrik Knudtzon, CFO, +47 9302 2827, hk(at)idexbiometrics.com
IDEX ASA specialises in fingerprint imaging and recognition technology. The company has a strong patent portfolio consisting of 25 patent families including more than 225 granted patents, as well as cross licenses with Apple. IDEX has a highly competitive product road map including swipe sensors, touch sensors with disruptive cost positions, and a unique in-glass solution. The company is currently in the process of commercialising the products.
IDEX’s addressable market represents a multi-billion unit opportunity, centred on three core markets: Mobile, ID & smart cards and the Internet of Things. IDEX has seen a substantial increase in interest from global OEMs in the last quarters, and is positioned as of three independent players with the relevant IP to capture market share.
IDEX ASA (ticker IDEX) is a Norwegian public company listed at the Oslo Børs (Oslo stock exchange). For more information, please visit www.idexbiometrics.com or contact IDEX at email@example.com