Successful private placement in IDEX
Significantly oversubscribed placement by book building.
The private placement resolved on 8 November 2012 received great interest from investors. The book building resulted in significant oversubscription compared to the maximum of 27.2 million shares authorised by the annual general meeting on 15 May 2012.
“The positive outcome of the private placement confirms investors’ confidence in IDEX’s technology and market strategy. IDEX has now a financial base to progress our commercial activities and continue our partnering activities,” said CEO Ralph W. Bernstein at IDEX. “The last months have been exciting times for IDEX,” Mr Bernstein continued, “Apple’s acquisition of fingerprint technology represented a boost to the industry’s interest in fingerprint authentication.”
Chairman Morten Opstad at IDEX also expressed his satisfaction with the outcome of the placement. “It is a pleasure to experience the strong investor interest in the placement, from existing as well as new investors, resulting in significant oversubscription at the indicated subscription price,” Mr. Opstad said.
The board has resolved to issue the maxumum number of shares according to the authorisation, viz. 27,196,064 shares at a subscription price of NOK 0.75 per share, thereby raising NOK 20.4 million new equity and liquidity before expenses.
The deadline for payment is 19 November 2012 whereafter the shares will be delivered after applicable registration. IDEX will issue a listing prospectus in connection with this placement.
9 November 2012
About IDEX ASA
IDEX ASA is a Norwegian public company specializing in fingerprint imaging and recognition technology. IDEX’ vision is to ensure individuals a safe, secure, and user-friendly use of personal ID. IDEX has developed the award-winning SmartFinger Film technology platform including the patented fingerprint imaging principle, sensing scheme and chip design. The SmartFinger technology is available to customers under an intellectual property licensing scheme or as SmartFinger Film sensor assemblies for integration into customers’ products. For more information, please visit www.idexbiometrics.com or contact IDEX at: email@example.com.