GomSpace’s CEO comments on financial arrangement

After inquiries from our shareholders regarding the press release made public on Friday 13, 2017, Niels Buus, CEO of GomSpace Group AB (the “Company”) would like to further clarify:

The financial arrangement with the European Select Growth Opportunities Fund is a pure call option from GomSpace’s side:

  •  We can decide not to call any tranches, if we do not need it;
  •  We do not pay any interest on the convertible notes; and
  •  If needed and deemed more favourable for the Company and our shareholders, we can still raise capital through a share rights issue and/or a directed share issue.

The ambitious targets for GomSpace remain the same. The growth opportunities continue to develop positively. Our orderbook is very strong and our sales opportunities for new constellations are continuing to materialize through a number of opportunities for in orbit demonstration satellites for new constellations.

Although we are well funded with SEK 172 millon after Q1 2018, we have decided to secure financial backup. The setup provides GomSpace with an ”insurance policy” so we are able to raise capital even if  the capital market should be less favourable.

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.    

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