CEO Carsten Drachmann comments on the outcome of the rights issue

CEO Carsten Drachmann comments on the outcome of the rights issue
GomSpace secures SEK 43.5 million in cash for its ongoing operation from completed rights issue.
CEO Carsten Drachmann comments: "First of all, I want to start by thanking our shareholders for their continued trust and support in the recent rights issue. We managed to reach an 83% subscription rate, which I consider a good achievement in the current situation. In the interest of clarity, I also wanted to highlight that the net result of the rights issue for GomSpace, is SEK 43.5 million in cash, or in other words GomSpace has received additional SEK 43.5 million in cash in May 2023, after the full completion of the rights issue.

The convertible loans, which were issued by leading investors and management in 2022, have all been converted to shares in April and the loan obligations has been fulfilled. It means the loans are no longer on the balance sheet of GomSpace and they have been paid in full.

The credit facility from the European Investment Bank (EIB) is not affected by the rights issue. GomSpace has requested and received the first tranche (loan) of EUR 5 million (approx. SEK 56.5 million) on February 9, 2023. That cash has been received. GomSpace has the option of requesting up to an additional EUR 13 million (SEK 147 million) in the coming years, subject to terms and conditions”.

Carsten continues: “With a strengthened cash position, we continue to work towards the transformation of GomSpace into a profitable company, leveraging our globally recognized brand, our people & technology, and our unique experience in space”.

The above information is a summary of previously announced events. For full details of the rights issue, please refer to the press release issued on April 21, 2023. In relation to the convertible loan agreement with management and leading investors, and the credit facility with the European Investment Bank, please refer to press release on November 25, 2022. For details on the first disbursement under the EIB credit facility, please refer to the press release on February 9, 2023.

For more information, please contact:
Carsten Drachmann (CEO)
Tel: +45 40 63 40 36
E-mail: cdra @ gomspace.com

About GomSpace Group AB
The company’s business operations are mainly conducted through the wholly-owned Danish subsidiary, GomSpace A/S, with operational office in Aalborg, Denmark. GomSpace is a space company with a mission to be engaged in the global market for space systems and services by introducing new products, i.e. components, platforms and systems based on innovation within professional nanosatellites. The company is listed on the Nasdaq First North Premier exchange under the ticker GOMX. FNCA Sweden AB is the Company’s Certified Adviser. For more information, please visit our website on www.gomspace.com.
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The following files are available for download:
https://mb.cision.com/Main/14387/3758876/2014434.pdf Comments on Rights Issue APril 26 2023
https://news.cision.com/gomspace-a-s/i/carsten-drachmann-ceo,c3171446 Carsten Drachmann_CEO