GomSpace (provider of nanosatellites) announces the outcome of its initial public offering

GS Sweden AB (publ) (the ” Company ” or “ GomSpace ”), parent company of GomSpace ApS, today announces the outcome of its initial public offering of new shares in connection with listing on Nasdaq First North Stockholm (Premier Segment).  

The subscription period ended on 1 June 2016 and GomSpace welcomes its new shareholders. The offering was carried out in order to broaden the shareholder base and provide working capital for the planned expansion and development of the business operations.

The total proceeds from the offering were SEK 100 million (before guarantee and other transaction costs). This means that 8,000,000 of the maximum 10,000,000 new shares were subscribed for at the fixed subscription price of SEK 12.50 per share. Of the 8,000,000 new shares, 5,735,124 shares, corresponding to approximately 72 percent of the shares subscribed for were allotted to the general public in Sweden, Denmark and Norway as well as to professional investors. In addition, 2,264,876 shares, corresponding to approximately 28 percent of the shares subscribed for were allotted to the guarantee consortium.    

" We are very proud that we can announce a subscription of SEK 100 million. The current IPO activity in Sweden is very intense, and the competition for the Swedish investor resources is henceforth very fierce. Nonetheless, Swedish investors have found a solid interest in GomSpace. We are at the same time positively surprised about the scale of the backing from the Danish investors ”, says Niels Buus (CEO).

Only subscribers who have been allotted shares will receive contract notes and the expected settlement day of the offering is 10 June 2016.

The first day of trading on Nasdaq First North Stockholm (Premier Segment) is planned to occur on or about 16 June 2016. 

Upon registration of the offering with the Swedish Companies Registration Office, the share capital will be increased with SEK 560,000 from SEK 973,513.38 to SEK 1,533,513.38 and the number of shares will increase with 8,000,000 from 13,907,334 to 21,907,334. No new shareholder will have an ownership percentage in the Company of 5 per cent or more.

Advisers

Stockholm Corporate Finance AB has acted as financial adviser and Setterwalls Advokatbyrå AB and EY Law AB has acted as legal advisers to the Company in connection with the offering.                  

For more information, please contact:             
Niels Buus (CEO)
Tel: +45 9635 6111                
Email:
nbu@gomspace.com  

Miscellaneous       

The board of directors of the Company has applied for listing of the Company’s shares at Nasdaq First North Stockholm (Premier Segment) and has engaged FNCA Sweden AB as Certified Adviser. 

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.   

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. Invitation to subscribe for securities in GomSpace has only been made in accordance with the prospectus published on 18 May 2016. 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.     

The Company’s business operations are conducted through the wholly-owned Danish subsidiary, GomSpace ApS, with operational office in Aalborg, Denmark. GomSpace develops and sells products and perform service and maintenance in the global nanosatellite market. For more information, please visit our website www.gomspace.com.

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