Le Lézard
Classified in: Business
Subject: VEN

GomSpace Secures External Financing of up to SEK 300 Million


STOCKHOLM, July 13, 2018 /PRNewswire/ --

GomSpace Group AB (publ) (the "Company" or "GomSpace") has signed an agreement relating to an investment in several optional tranches of up to SEK 300 million. The capital will mainly be used to finance and facilitate accelerated expansion, nearby acquisition opportunities and development of GomSpace, its market and its products. The transactions are to be carried out through private placements of convertible notes (the "Notes") with warrants attached (the "Warrants") in several tranches spread over 36 months (each a "Tranche"). For the avoidance of doubt, no Tranche has yet been called upon by GomSpace.

CEO Niels Buus comments; "In a situation where the opportunities for nanosatellites continue to increase, we want to make sure that GomSpace has the financial strength to pursue the growth in the market. To make sure of that, we have decided to secure this financial structure because it is very flexible and it is a facility that is controlled by us if we are in need of capital to support the current accelerated growth strategy".

The Tranches are to be subscribed by European Select Growth Opportunities Fund (the "Investor"), a fund focusing on technology and healthcare small cap companies presenting a strong growth potential.

According to the financing agreement entered into between GomSpace and the Investor (the "Agreement"), GomSpace may call for the first Tranche of SEK 50 million and any additional Tranches at its own discretion. Should the first Tranche not be called by GomSpace within 12 months, the Investor will have the right to terminate the Agreement.

In connection with each Tranche, GomSpace will also issue free warrants to existing shareholders, to protect them against equity dilution (the "Shareholders' Warrants"). The Shareholders' Warrants will have the same characteristics as those of the Investor.

The Agreement in short:

Main characteristics of the Notes, the Warrants and the Shareholders' Warrants:

Issuance of the Tranches

 

 

 

 

 

 

 

The full terms and conditions of the Notes, the Warrants and the Shareholders' Warrants will be published on GomSpace's website. GomSpace will publish a press release when calling for the issuance of a Tranche, and will subsequently publish and update on its website a table in order to follow the conversions of Notes, exercise of Warrants and the number of outstanding shares.

For more information, please contact:
Niels Buus (CEO)
Tel: +45-40-31-55-57                             
Email: nbu @ gomspace.com

About GomSpace
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.   

Miscellaneous
This information is information that GomSpace Group AB 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, at 15:35 CET on 13 July 2018.

IMPORTANT INFORMATION

The release, publication or distribution of this press release in certain jurisdictions may be restricted. This press release does not constitute an offer of, or an invitation to purchase or subscribe for, any securities of GomSpace in any jurisdiction.

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 have not been and will not be registered under the US Securities Act of 1933, as amended (the "US Securities Act") or under the securities laws of any state or other jurisdiction of the United States and may not be offered or sold in the United States absent registration except pursuant to an exemption from, or in a transaction not subject to, the registration requirements under the US Securities Act and in compliance with any applicable laws of any state or other jurisdiction of the United States. There will be no public offering of the securities in the United States. Copies of this announcement should not be made in and may not be distributed or sent into the Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Africa, Switzerland or the United States.

This press release is not a prospectus for the purposes of Directive 2003/71/EC (such Directive, together with any applicable implementing measures under such Directive in the relevant home Member State, the "Prospectus Directive"). GomSpace has not authorized any offer to the public of securities in any Member State of the European Economic Area and no prospectus or other offering document has been or will be prepared in connection with the contemplated financing. With respect to each Member State of the European Economic Area and which has implemented the Prospectus Directive (each, a "Relevant Member State"), no action has been undertaken to date to make an offer to the public of securities requiring a publication of a prospectus in any Relevant Member State.

This press release may contain "forward-looking statements", which are statements related to future events. In this context, forward-looking statements often address GomSpace's expected future business and financial performance, and often contain words such as "expect", "anticipate", "intend", "plan", "believe", "seek", or "will". Forward-looking statements by their nature address matters that are, to different degrees, uncertain and can be influenced by many factors, including the behavior of financial markets, fluctuations in interest and exchange rates, commodity and equity prices and the value of financial assets; the impact of regulation and regulatory, investigative and legal actions; strategic actions; and numerous other matters of national, regional and global scale, including those of a political, economic, business and competitive nature. These factors may cause GomSpace's actual future results to be materially different than those expressed in its forward-looking statements. GomSpace does not undertake to update its forward-looking statements.

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