#Sweden #Stockholm #warrants exercise #GomSpace #Peter Hargreaves

GomSpace Improves Financial Strength Through Warrant Exercise

In a recent financial move, GomSpace Group AB has bolstered its balance sheet by the full exercise of 3,301,566 warrants by Peter Hargreaves. This significant transaction will result in the creation of 4,853,302 new shares, reflecting Hargreaves' steadfast commitment as the Company's largest shareholder through the Hargreaves Family No. 14 trust.

The exercise is linked to a EUR 18 million shareholder credit facility that Hargreaves personally provided to the company, demonstrating his long-term dedication. Following this transaction, GomSpace anticipates a considerable improvement in its equity ratio, alongside a cash infusion of approximately SEK 340,000 from the exercise of the warrants.

Carsten Drachmann, CEO of GomSpace, expressed appreciation for Hargreaves' ongoing confidence in the company's vision. "His continued support further strengthens our financial standing, allowing us to engage more effectively with government clients and larger commercial partners, where a robust balance sheet can provide a competitive edge," stated Drachmann.

The execution of these warrants was also based on recalculations associated with earlier rights issues carried out from March to April 2023. Each warrant now permits the subscription for 1.47 new shares at an exercise price currently set at SEK 0.07.

This move indicates an increase in the number of outstanding shares from 168,669,159 to 173,522,461, resulting in a minor dilution of around 2.8 percent for existing shareholders. The company's share capital will rise by SEK 339,731.14, elevating it from SEK 11,806,841.13 to SEK 12,146,572.27.

For those unacquainted, GomSpace, founded in 2007, stands out as a global provider of small satellite solutions with a customer base spread across 60 countries. Its operations are primarily managed from its Danish subsidiary, GomSpace A/S, located in Aalborg, while also maintaining critical operations in Luxembourg, France, and the United States.

The organization is committed to delivering advanced satellite systems and services, enabling various sectors, including government agencies, businesses, and research institutions, to pursue their endeavors in space. Their expertise encompasses satellite subsystems, complete small satellite missions, and satellite operations, ultimately facilitating smarter, quicker, and more economical access to outer space.

Listed on the Nasdaq First North Premier Growth Market in Stockholm under the ticker GOMX, GomSpace showcases substantial growth potential, backed by strong financial maneuvers such as this warrant exercise. The successful integration of these new shares into its equity structure is poised to enhance GomSpace's capabilities in navigating the evolving aerospace landscape, cementing its position as a leader in the satellite sector.

For further information about GomSpace and its recent developments, interested parties can contact Anne Breüner, Head of Corporate Affairs, via telephone at +45 40 200 192 or through email at [email protected].