GomSpace makes a private placement at SEK 95 mio. through issuance of 1.75 mio. new shares after an "accelerated book-building" procedure

The board of directors of GS Sweden AB (publ) (the "Company" or "GomSpace"), parent company of GomSpace ApS, has, with support from an authorisation granted by the extraordinary general meeting held on April 28, 2016, and as indicated in the press release published on April 5, 2017, resolved to issue 1.75 million new shares at the price of SEK 54.5 per share. The price was established through a so called "accelerated book-building" procedure led by Carnegie Investment Bank AB (publ). The new share issue is directed to selected Swedish and international institutional investors.   

The reasons for the deviation from the shareholders' preferential rights are mainly to bring institutional shareholders into the Company and at the same time strengthen the Company's financial position in a short timeframe. The proceeds from the private placement are intended to be used to finance and facilitate accelerated expansion, nearby acquisition opportunities and development of GomSpace, its market and its products. The private placement will result in gross proceeds to the Company of SEK 95 million (before transaction related costs). It is the board of directors' opinion that the transaction promotes GomSpace's possibilities to create further value for all shareholders.

None of the investors are part of the board or management of the Company or otherwise closely related to the Company.

The subscription price of SEK 54.5 for the new shares implies a discount of approximately 10 percent based on the closing price of GomSpace's shares on Nasdaq First North Premier on April 5, 2017. The subscription price for the share is based on the accelerated book-building procedure led by Carnegie Investment Bank AB (publ) on April 5, 2017 and GomSpace has thereby ensured that the subscription price corresponds to fair market standards.

The new shares will be admitted to trading on Nasdaq First North Premier following their issuance and registration.  

The Company today has a share capital of SEK 1,715,513.38 divided between a total number of 24,507,334 shares. The new share issue will entail a dilution for the current shareholders of approximately 7 per cent calculated by dividing the number of new shares and votes with the total number of shares and votes in the Company after registration of the new shares.

Advisers
Carnegie Investment Bank AB (publ) is acting as financial advisor and Setterwalls Advokatbyrå acts as legal advisor in connection with the private placement.