GomSpace makes a private placement at SEK 95 mio. through issuance of 1.75 mio. new shares

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4/5/2017


GomSpace makes a private placement at SEK 95 mio. through issuance of 1.75 mio. new shares after an “accelerated book-building” procedure
This press release is not for release, publication or distribution, directly or indirectly, in or into Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Africa, Switzerland or the United States, or in any other jurisdiction where distribution of this press release could be illegal or subject to legal restrictions. See also section IMPORTANT INFORMATION below.
The board of directors of GS Sweden AB (publ) (the “Company” or “GomSpace”), parent company of GomSpace ApS, has, with support from an authorisation granted by the extraordinary general meeting held on April 28, 2016, and as indicated in the press release published on April 5, 2017, resolved to issue 1.75 million new shares at the price of SEK 54.5 per share. The price was established through a so called “accelerated book-building” procedure led by Carnegie Investment Bank AB (publ). The new share issue is directed to selected Swedish and international institutional investors.   

The reasons for the deviation from the shareholders’ preferential rights are mainly to bring institutional shareholders into the Company and at the same time strengthen the Company’s financial position in a short timeframe. The proceeds from the private placement are intended to be used to finance and facilitate accelerated expansion, nearby acquisition opportunities and development of GomSpace, its market and its products. The private placement will result in gross proceeds to the Company of SEK 95 million (before transaction related costs). It is the board of directors’ opinion that the transaction promotes GomSpace’s possibilities to create further value for all shareholders.

None of the investors are part of the board or management of the Company or otherwise closely related to the Company.

The subscription price of SEK 54.5 for the new shares implies a discount of approximately 10 percent based on the closing price of GomSpace’s shares on Nasdaq First North Premier on April 5, 2017. The subscription price for the share is based on the accelerated book-building procedure led by Carnegie Investment Bank AB (publ) on April 5, 2017 and GomSpace has thereby ensured that the subscription price corresponds to fair market standards.

The new shares will be admitted to trading on Nasdaq First North Premier following their issuance and registration.  

The Company today has a share capital of SEK 1,715,513.38 divided between a total number of 24,507,334 shares. The new share issue will entail a dilution for the current shareholders of approximately 7 per cent calculated by dividing the number of new shares and votes with the total number of shares and votes in the Company after registration of the new shares.

Advisers
Carnegie Investment Bank AB (publ) is acting as financial advisor and Setterwalls Advokatbyrå acts as legal advisor in connection with the private placement.
For more information, please contact:
Niels Buus (CEO)
Tel: +45 40 31 55 57
Email: nbu @ gomspace.com
About GS Sweden AB
The Company’s business operations are mainly 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.

Miscellaneus
This information is information that GS Sweden AB 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(s) set out above, at 22:00 CET on April 5, 2017.

Important information                    
Publication or distribution, directly or indirectly, of this press release could in some jurisdictions be subject to restrictions according to law and recipients of this press release, or part of it, are required to inform themselves of, and comply with, such legal restrictions. This press release is not for release, publication or distribution, directly or indirectly, in or into Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Africa, Switzerland or the United States, or in any other jurisdiction where distribution of this press release could be illegal or subject to legal restrictions. Copies of this press release are not being made and may not be distributed or sent, in whole, or part, directly or indirectly, in violation of such restrictions. Failure to comply with such restrictions may constitute a criminal act under the United States Securities Act of 1933 (as amended) ("Securities Act") or applicable laws in other jurisdictions.

This press release neither constitutes, nor constitutes a part of, an offer or a solicitation of an offer to purchase or subscribe for securities in GomSpace. Neither the shares subscribed for nor the new shares have or will be registered in accordance with the Securities Act. Neither the shares subscribed for nor the new shares may, directly or indirectly, be transferred to or offered for sale in Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Africa, Switzerland or the United States, or in any other jurisdiction where such measure could be subject to legal restrictions or to any person residing in such jurisdictions, or on such person’s account, other than in accordance with applicable exemptions that do not require registration in accordance with the Securities Act or similar measures according to applicable laws in other jurisdictions.
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