Changes to capital fundraising approach

Company Announcement no. 04-24
Copenhagen, February 9, 2024

The announcement contains inside information

In company announcement 43-23, the company disclosed its financial expectations for 2024, along with the intention to raise capital through a rights issue to support development and expansion plans, as well as working capital needs considering the robust growth and demand the company is experiencing.

Subsequently, on February 8, 2024, the Board of Directors convened an extraordinary general meeting (company announcement no. 03-24) to seek approval for the authority to raise capital through a directed share issue, in response to the growing interest from investors.

Pending approval from the general meeting, the management and the Board of Directors will exclusively pursue a directed share issue, maintaining the same minimum target proceeds (DKK 30-35 million).

Reasoning for capital increase

The projected growth and strategic direction for 2024 necessitate an increase in working capital to support investments and meet both current and anticipated orders in the pipeline. With a focus on the dynamic Polish market, where rapid expansion is highly probable, maintaining a robust working capital is imperative. Our observation indicates a seasonal pattern in order placements, often in high-volume bulks, underscoring the need for sufficient inventory to meet the demands of our customers and distributors.

In addition to addressing current operational needs, the company is committed to further enhancing the product offerings for future growth. This initiative involves expanding the "Skriware Academy," which was acquired with Skriware, into a comprehensive ecosystem for classrooms. The envisioned ecosystem will leverage AI to optimize learning efficiency and lecture preparation, presenting a unified academy with freemium options and potential upselling or subscription services.

The company expects to announce a new three-year growth strategy in the first quarter of this year, including expansion plans and the development of new products in collaboration with partners. The strategy will also include financial targets.

Guidance 2024
Revenue DKK 300-325 million
EBITDA  DKK 14-18 million

Additional information and investor relations
Jeppe Frandsen,Chairman
Tlf.: +45 20 55 40 44

André Fehrn, CEO
Tlf.: +45 42 50 30 80
Email: ir@shaperobotics.com
CVR-nr. 38322656
www.shaperobotics.com