Preliminary outcome in GomSpace Group’s preferential rights issue
The preliminary outcome of the preferential rights issue in GomSpace Group AB (publ) (”GomSpace” or the “Company”), for which the subscription period ended on December 5, 2018, indicates that the rights issue is subscribed for by 86.9 percent. As a result of the rights issue, GomSpace will receive proceeds amounting to approximately SEK 259 million before transaction costs.
The preliminary outcome shows that 21,432,990 shares, corresponding to approximately 75.6 percent of the shares offered, have been subscribed for by exercise of subscription rights. In addition, applications for subscription without subscription rights of 3,190,814 shares, corresponding to approximately 11.3 percent of the shares offered, have been received. Accordingly, the rights issue is subscribed for by 86.9 percent.
The rights issue will provide GomSpace with approximately SEK 259 million before transaction costs, which are estimated to amount to approximately SEK 17 million. The rights issue will increase GomSpace’s share capital with SEK 1,723,666.28 from SEK 1,983,846.69 to SEK 3,707,512.97 by the issuance of a total of 24,623,804 shares. The number of shares in GomSpace after the rights issue will amount to 52,964,471.
The new shares subscribed for by exercise of subscription rights are expected to be registered with the Swedish Companies Registration Office (“SCRO”) on or around December 10, 2018 and the new shares subscribed for without subscription rights are expected to be registered with the SCRO on or around December 20, 2018. The last day of trading in the paid-up subscribed shares (“BTA”) is expected on or around December 18, 2018. The new shares are expected to be subject to trading at Nasdaq Firsth North Premier on or around December 21, 2018.
The final outcome of the rights issue will be published through a press release on or around December 11, 2018. Allocation of shares that were subscribed for without subscription rights will be made in accordance with the principles outlined in the prospectus. As confirmation of allocation of shares subscribed for without subscription rights, a contract note will be sent to those who have been allocated shares on or around December 11, 2018. No communication will be sent out to those who have not been allocated shares. Subscribed and allocated shares must be paid for in cash in accordance with the instructions in the contract note sent to those who have been allocated shares. Shareholders with nominee-registered holdings will receive confirmation of the allocation in accordance with the procedure of the respective nominee. Only those who are allocated shares will be notified.
“GomSpace has raised a significant and important amount of capital which enables us to focus on bringing GomSpace into its next phase, in accordance with the newly updated business plan. The capital raise provides a solid ground for our continued growth journey with the goal of being cash flow positive. I would also wish to welcome new shareholders and express gratitude to current shareholders for continued support. As a result of that we reached a subscription of 86.9 percent and we acknowledge that the rights issue was not fully subscribed. Now we will focus on execution of the Company’s business potential”, says Niels Buus, CEO of GomSpace.
Financial and legal advisors
Danske Bank is acting as financial advisor and Setterwalls Advokatbyrå AB as legal advisor to GomSpace in connection with the rights issue.
For more information, please contact:
Niels Buus (CEO)
Tel: +45 40 31 55 57
Email: nbu @ 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.
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, 9:00 a.m CET on December 7, 2018.
This press release is not an offer or solicitation to aquire securities in GomSpace. A prospectus relating to the rights issue referred to in this press release has been prepared by the Company and filed with the Swedish Financial Supervisory Authority.
This press release does not constitute or form part of an offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein may not be sold in the United State absent registration or an exemption from registration under the US Securities Act of 1933, as amended. GomSpace does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States. The information in this press release may not be announced, published or distributed, directly or indirectly, to the United States, Canada Australia, Hong Kong, Japan, New Zealand, Singapore, South Africa, Switzerland or in any other jurisdiction where the announcement, publication or distribution of the information would not comply with applicable laws and regulations.
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