STOCKHOLM, July 6, 2021 /PRNewswire/ -- Eco Wave Power
Global AB (publ) (Nasdaq: WAVE) (Nasdaq First North: ECOWVE)
("EWPG" or the "Company") today announced the closing of its
underwritten public offering of 1,000,000 American Depository
Shares (the "ADSs"), representing 8,000,000 common shares at a
price to the public of $8.00 per ADS.
The ADSs began trading on the Nasdaq Capital Market ("Nasdaq") on
July 1, 2021. EWPG granted
A.G.P./Alliance Global Partners, the underwriter, a 30-day option
to purchase up to 150,000 additional ADSs to cover
over-allotments, at the public offering price, less the
underwriting discounts and commissions. A.G.P. exercised its option
in full on July 1, 2021. The
closing of all 1,150,000 ADSs, representing 9,200,000 common
shares, occurred simultaneously.
The gross proceeds to the Company from this offering were
approximately $9.2 million, before
deducting underwriting discounts, commissions and other offering
expenses, including the exercise of the over-allotment option.
A.G.P./Alliance Global Partners acted as sole book-running
manager for the offering.
The offering was made pursuant to an effective registration
statement on Form F-1 (Registration No. 333-256515) previously
filed with the U.S. Securities and Exchange Commission (the "SEC").
A final prospectus relating to this offering was filed with the
SEC. Copies of the final prospectus relating to the offering may be
obtained by contacting A.G.P./Alliance Global Partners, 590 Madison
Avenue, 28th Floor, New York, NY
10022, or by email at syndicate@allianceg.com. Investors may also
obtain these documents at no cost by visiting the SEC's website
at https://www.sec.gov.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
EWPGs common shares are currently listed on Nasdaq First North
Growth Market ("Nasdaq First North") under the symbol
"ECOWVE". The filing of the prospectus in the United States with the SEC has no direct
implications for EWPGs listing on Nasdaq First North in
Sweden.
In connection with the offer or sale of securities referred to
herein, the sole book-running manager may conduct stabilization or
effect transactions on the Nasdaq with a view to support the market
price of the securities at a level higher than that which might
otherwise prevail. Any stabilization action will be conducted by
the sole book-running manager in accordance with all applicable
laws and rules.
About Eco Wave Power Global AB (publ)
Eco Wave Power Global ("EWPG") is a leading onshore wave energy
technology company that developed a patented, smart and
cost-efficient technology for turning ocean and sea waves into
green electricity. EWPG's mission is to assist in the fight against
climate change by enabling commercial power production
from ocean and sea waves.
EWPG is recognized as a "Pioneering Technology" by the
Israeli Ministry of Energy and was labelled as an "Efficient
Solution" by the Solar Impulse Foundation. EWPG's project
in Gibraltar has received funding
from the European Union Regional Development Fund and the European
Commission's Horizon 2020 framework program. The
company has also received the "Climate Action
Award" from the United Nations.
EWPG's
common shares (ECOWVE) are traded on
Nasdaq First North and EWPG's ADSs (WAVE) are traded on the
Nasdaq Capital Market.
FNCA is the company's Certified Advisor (+46 8-528
00 399, info@fnca.se).
Read more about Eco Wave Power
at: www.ecowavepower.com.
Information on, or accessible through, the website mentioned
above does not form part of this press release.
Important Information
No announcements or information regarding the initial public
offering may be disseminated to the public in jurisdictions where a
prior registration or approval is required for such purpose. No
steps have been or will be taken for the offering of shares or ADSs
in any jurisdiction where such steps would be required. The issue
or sale of shares or ADSs, and the subscription for or purchase of
shares or ADSs, are subject to special legal or statutory
restrictions in certain jurisdictions. EWPG is not liable if these
restrictions are not complied with by any other person.
This announcement is not a prospectus for the purposes of
Regulation (EU) 2017/1129 of the European Parliament and of the
Council of 14 June 2017 (the
"Prospectus Regulation") and has not been approved by any
regulatory authority in any jurisdiction. EWPG has not authorized
any offer to the public of shares or rights in any member state of
the EEA and no prospectus has been or will be prepared in
connection therewith. In any EEA member state, this communication
is only addressed to and is only directed at qualified investors in
that member state within the meaning of the Prospectus
Regulation.
For more information, please contact:
Inna Braverman, CEO
inna@ecowavepower.com
+97235094017
Aharon Yehuda, CFO
Aharon@ecowavepower.com
The information in the press release is information that EWPG
is obliged to make public pursuant to the EU Market Abuse
Regulation. The information was submitted for publication, through
the agency of the contact person above, on July 6, 2021, at 10:10 pm
(CEST).
This information was brought to you by Cision
http://news.cision.com
https://news.cision.com/ewpg-holding-ab--publ-/r/eco-wave-power-global-ab--publ--announces-closing-of--9-2-million-public-offering--which-includes-fu,c3380957
The following files are available for download:
https://mb.cision.com/Main/18497/3380957/1441806.pdf
|
Release
|
https://news.cision.com/ewpg-holding-ab--publ-/i/wave---welocme-msg-002,c2934052
|
WAVE - Welocme Msg
002
|
View original
content:https://www.prnewswire.com/news-releases/eco-wave-power-global-ab-publ-announces-closing-of-9-2-million-public-offering-which-includes-full-exercise-of-the-underwriters-over-allotment-option-and-nasdaq-listing-301326371.html
SOURCE EWPG Holding AB (publ)