GomSpace (provider of nanosatellites) has entered into a non-binding letter of intent


Press release


August 19, 2016      

GomSpace (provider of nanosatellites) has entered into a non-binding letter of intent to acquire all shares in NanoSpace AB

GS Sweden AB (publ) (the ”Company” or “GomSpace”), parent company of GomSpace ApS, has entered into a letter of intent (“LoI”) with the Swedish company “Svenska rymdaktiebolaget” (the Swedish Space Corporation) regarding the potential acquisition of 100% of the shares in the Swedish company NanoSpace AB.

The LOI contains broad terms of a potential transaction with the right for GomSpace to conduct a due diligence investigation and the acquisition is conditional upon both parties entering into a definite agreement containing specific signing and closing terms and conditions yet to be negotiated.    

Should the acquisition be completed, the parties have agreed that the purchase price is to be paid with 600,000 new issued shares in GS Sweden AB and with a cash payment of 3,000,000 SEK. Such new issue of shares will be possible for the board of directors to decide upon with support from an authorization granted at an extraordinary general meeting held on April 28, 2016. The potential dilution for the current shareholders will approximately be 2.75%.

NanoSpace is a company that develops and provides propulsion technology and products for nanosatellites, and participates in space technology projects funded by the European Space Agency (“ESA”) and Swedish national funding programs.  NanoSpace’s propulsion technology and products are based on the company’s leading expertise in applying MEMS (Micro Electro Mechanical Systems) technology to space propulsion – providing unique advantages in miniaturization and precise thrust control.

GomSpace’s wish to acquire NanoSpace AB for the purpose of building up more Swedish activities and to have satellite propulsion products in its portfolio alongside the activities already in Gomspace ApS. Future operational nanosatellite missions will depend on constellations of satellites and therefore require the ability to fly these satellite in an accurate formation - as can be achieved using ability provided by the propulsion technology and products developed by NanoSpace.

GomSpace and NanoSpace already collaborate closely in multiple customer projects on integrating NanoSpace propulsion technology into GomSpace satellite platforms.

Should the acquisition be completed, Swedish Space Corporation has accepted to make an executive director available for the board of directors in GomSpace. Swedish Space Corporation is a global provider of advanced space services, who enables governmental agencies, companies and other commercial or research institutes to help Earth benefit from space.

For more information, please contact:                     
Niels Buus (CEO)
Tel: +45 40 31 55 57                        


This information is information that GomSpace 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 set out above, at [•] CET on August 19, 2016.  

About GS Sweden AB

The Company’s business operations are conducted through the wholly-owned Danish subsidiary, GomSpace ApS, 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. 

This press release shall not constitute an offer to sell or the solicitation of an offer to acquire any securities, nor shall there be any sale of any securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

Except for the historical information contained herein, this press release contains forward-looking statements. Undue reliance should not be placed on forward-looking statements, which speak only as of the date they are made, and the facts and assumptions underlying the forward-looking statements may change. Except as required by law, GomSpace disclaims any obligation to update these forward-looking statements to reflect future information, events or circumstances.

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