Svenska Aerogel announces the outcome of the exercise of warrants of series TO9

Comment from Tor Einar Norbakk, CEO

“I would like to thank our shareholders, Board of Directors and management team for their continued support. With a stronger financial position, we can continue to advance our commercialization efforts with a clear focus on growing sales.”

Background

The exercise period for the Warrants ran from 11 September 2026 up to and including 25 September 2026. The subscription price per share upon exercise of the Warrants amounted to SEK 0.93.

A total of 3,797,391 Warrants were exercised for subscription of 3,797,391 shares, which means that approximately 38.4 per cent of the outstanding Warrants were exercised for subscription of shares. Through the exercise of the Warrants, Svenska Aerogel will receive approximately SEK 3.5 million before issue costs.

The exercised TO9 have been replaced with interim shares (IA) pending registration with the Swedish Companies Registration Office (Bolagsverket). The conversion of interim shares to shares is expected to take place within three (3) weeks.

Number of shares, share capital and dilution

Through the exercise of the Warrants, the number of shares in Svenska Aerogel will increase by 3,797,391 shares, from 49,501,067 shares to 53,298,458 shares. The share capital will increase by SEK 227,843.46, from SEK 2,970,064.02 to SEK 3,197,907.48.

For existing shareholders who have not exercised Warrants for subscription of new shares, the dilution amounts to approximately 7.1 percent of the number of shares and votes in the Company.

Advisers
Aqurat Fondkommission AB is acting as issuing agent for Svenska Aerogel in connection with the exercise of TO9. Eversheds Sutherland Advokatbyrå AB is acting as legal adviser to the Company in connection with the exercise of TO9.