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ELSIGHT LIMITED — Capital/Financing Update 2022
May 22, 2022
64836_rns_2022-05-22_2f387f22-323c-4f10-b7ff-468cc7cab04d.pdf
Capital/Financing Update
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ASX Announcement
23 May 2022
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Early Exercise of Options raises $3.345M - boosts Elsight’s focus on delivery of “Halo” partnerships
Elsight Limited ( ASX: ELS ) ( Elsight or the Company ), is pleased to announce, following the previous announcement of block trade on 7[th] April 2022, that 16,728,000 options ( the Options ) have been exercised early, raising $3.345M for the Company. The Options have been exercised ahead of their maturity in June 2022.
Funds raised from early exercise of the Options allows the Company to accelerate the executing of the design win strategy, which sees the Company’s “Halo” technology rolled out with commercial partners.
Co-Founder and substantial shareholder, Nir Gabay, has exercised 7,985,000 Options to acquire 7,985,000 fully paid ordinary shares for a consideration of $1,597,000.
Co-Founder and Chief Technology Officer, Roee Kashi, has exercised 8,743,000 Options to acquire 8,743,000 fully paid ordinary shares for a consideration of $1,748,600.
As announced on 7[th] April 2022, the newly acquired shares will be subject to a six-month voluntary escrow period. The entry into the voluntary restriction deed confirms both holders wish to remain long-term shareholders of the Company.
Authorised for release by the Board of Directors of Elsight Limited.
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For more information, please contact:
Corporate & Business Enquiries Media Enquiries Howard Digby Justin Kelly Elsight Limited Media + Capital Partners T: +61 434 987 750 M: +61 408 215 858 E: [email protected] E: [email protected]
About Elsight
Elsight (ASX:ELS) (www.elsight.com) Elsight delivers Absolute Connection with 24/7 Confidence. Our proprietary bonding technology incorporates both software and hardware elements to deliver extremely reliable, secure, high bandwidth, real-time connectivity - even in the most challenging areas for stationary, portable, or actively mobile situational requirements.