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BeammWave AB (publ) ("BeammWave" or the "Company") today announced the final outcome of the Company's rights issue of Class B shares of a maximum of approximately SEK 65.0 million, which was announced on 4 August 2025 based on the authorization granted by the Annual General Meeting of the Company held on 14 May 2025 (the "Rights Issue"). The outcome shows that 8,273,675 Class B shares, corresponding to approximately 89.1 percent of the Rights Issue, have been subscribed for with subscription rights. In addition, subscription applications for 6,661,015 Class B shares, corresponding to approximately 71.7 percent of the Rights Issue, have been received for subscription of shares without subscription rights. Together, the subscriptions with subscription rights and subscription applications without subscription rights constitute approximately 160.8 percent of the Rights Issue. Consequently, none of the guarantee commitments that the Company received in connection with the Rights Issue will be exercised. The Rights Issue will provide the Company with proceeds of approximately SEK 65.0 million before deduction of issue costs attributable to the Rights Issue.
On August 4, 2025, the Board of Directors of the Company resolved, based on the authorization granted by the Annual General Meeting of the Company on May 14, 2025, to carry out a new issue of Class B shares of a maximum of approximately SEK 65.0 million with preferential rights for existing shareholders. The subscription price in the Rights Issue was SEK 7.00 per Class B share. The subscription period for the Rights Issue lasted until August 27, 2025.
Final outcome of the Rights Issue
The rights issue amounted to a maximum of 9,288,869 Class B shares, corresponding to approximately SEK 65.0 million. The final outcome shows that 8,273,675 Class B shares, corresponding to approximately 89.1 percent of the Rights Issue, were subscribed for with subscription rights. In addition, applications have been received for subscription of 6,661,015 Class B shares without subscription rights, corresponding to approximately 71.7 percent. Thus, a total of 14,934,690 B shares were subscribed for in the Rights Issue, which corresponds to a total of approximately 160.8 percent of the offering. The final outcome thus shows that none of the guarantee commitments that the Company received in connection with the Rights Issue will be exercised. The Rights Issue will provide BeammWave with proceeds of approximately SEK 65.0 million before deduction of issue costs attributable to the Rights Issue.
Notice of allocation
Those who have subscribed for Class B shares without subscription rights will be allotted Class B shares in accordance with the principles set out in the simplified information document published by the Company on August 8, 2025. Notification of any allotment of Class B shares, subscribed for without subscription rights, will be given by sending allotment notices in the form of a settlement note and these are expected to be sent out as soon as possible. Subscribed and allotted Class B shares shall be paid in cash in accordance with the instructions on the settlement note. Investors who have subscribed for the Rights Issue via a nominee will receive notification of allotment in accordance with the respective nominees' procedures. Only those who have been allotted Class B shares will be announced.
Trading in paid subscribed shares (BTA)
Trading in paid subscribed shares (BTA) will take place on Nasdaq First North Growth Market until the Rights Issue has been registered with the Swedish Companies Registration Office, which is expected to take place in week 37, 2025. The shares will thereafter be admitted to trading on Nasdaq First North Growth Market under the ticker BEAMMW B as soon as possible after completion of the conversion.
Changes in the number of shares and share capital and dilution
Through the Rights Issue, the number of Class B shares in BeammWave will increase by 9,288,869, from 26,985,156 Class B shares to 36,274,025 Class B shares. BeammWave also has 4,597,000 Class A shares outstanding, which means that the total number of shares in the Company will increase from 31,582,156 shares to 40,871,025 shares. The share capital will increase by a maximum of approximately SEK 918,071.13, from approximately SEK 3,121,441.99 to approximately SEK 4,039,513.12. For existing shareholders who do not participate in the Rights Issue, the Rights Issue entails a dilution effect of approximately 22.7 percent of the total number of shares in the Company.
Comments from BeammWave's CEO, Stefan Svedberg
"I would like to extend a warm thank you to all our existing and new shareholders for your support in this forward-looking capital raise. The high subscription rate through both the exercise of subscription rights and subscription without preferential rightis a clear sign of confidence in our strategy and future journey where we are now set to create volume production. Your commitment is crucial as we now take the step to industrialize BeammWave's technology." says BeammWave's CEO, Stefan Svedberg.
Advisors
North Point Securities is acting as financial advisor in connection with the Rights Issue. Delphi is acting as legal advisor and Nordic Issuing is acting as issuing agent in connection with the Rights Issue.
For further information, please contact:
Stefan Svedberg, CEO
+46 (0) 10 641 45 85
info@beammwave.com
About BeammWave
BeammWave AB operates in miniaturized communication solutions for frequencies above 24 GHz. The company is building a chip-based solution intended for the next generation of 5G and 6G, in the form of a radio chip with antenna and associated algorithms. The company's approach to digital beamforming is unique and patented, with the aim of delivering digital communication with higher performance at a lower cost. The company's Class B share (BEAMMW B) is listed on Nasdaq First North Growth Market in Stockholm.
Certified Adviser is Redeye AB.
Important information
The publication, publication or distribution of this press release may be subject to restrictions by law in certain jurisdictions. Recipients of this press release in the jurisdictions in which this press release has been published or distributed should inform themselves of and comply with such legal restrictions. The recipient of this press release is responsible for using this press release and the information contained herein in accordance with applicable regulations in their respective jurisdictions. This press release does not constitute an offer to buy or subscribe for shares or other securities issued by the Company, either from the Company or from anyone else, in any jurisdiction where such offer or offer would be contrary to applicable rules or require further registration or other measures.
This press release is not a prospectus within the meaning of Regulation (EU) 2017/1129 (the "Prospectus Regulation") and has not been approved by any regulatory authority in any jurisdiction. No prospectus has been or will be prepared in connection with the Rights Issue. In each EEA Member State, this announcement is only directed at "qualified investors" in that Member State as defined in the Prospectus Regulation.
This press release does not constitute an offer, or a solicitation of any offer, to buy or subscribe for securities in the United States. The securities referred to herein may not be sold in the United States absent registration, or without the application of an exemption from registration, under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States absent registration, an exemption from, or in a transaction not subject to the registration requirements of the Securities Act. There is no intention to register any securities referred to herein in the United States, or to make a public offer of such securities in the United States. The information in this press release may not be announced, published, copied, reproduced or distributed, directly or indirectly, in whole or in part, in or into the United States, Australia, Belarus, Hong Kong, Japan, Canada, New Zealand, Russia, Switzerland, Singapore, South Africa, South Korea or any other jurisdiction where such announcement, publication or distribution of this information would be contrary to applicable regulations or where such action is subject to legal restrictions or would require additional registration or other measures than what follows from Swedish law. Actions in violation of this instruction may constitute a violation of applicable securities legislation.
In the United Kingdom, this document, and any other materials relating to the securities referred to herein, are only being distributed and directed at, and any investment or investment activity relating to this document is only available to, and will only be available to, "qualified investors" who are (i) persons who have professional experience in activities relating to investments and who fall within the definition of "professional investors" in Article 19(5) of the United Kingdom. Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order"); or (ii) high net worth persons referred to in Article 49(2)(a) to (d) of the Order (all such persons together being referred to as "relevant persons"). An investment or investment measure to which this announcement relates is only available in the United Kingdom to relevant persons and will only be made with relevant persons. Persons who are not relevant persons should not take any action based on this press release, nor should they act or rely on it.
This press release does not identify or purport to identify any risks (direct or indirect) that may be associated with an investment in new shares. The information in this press release is only to describe the background to the Rights Issue and does not claim to be complete or exhaustive. No assurance should be made in relation to the information in this press release regarding its accuracy or completeness. An investment decision to acquire or subscribe for shares in connection with the Rights Issue may only be made based on publicly available information regarding the Company and the Company's shares.
Failure to follow these instructions may constitute a violation of the Securities Act or applicable laws in other jurisdictions.
Forward-looking statements
This press release contains forward-looking statements regarding the Company's intentions, assessments or expectations regarding the Company's future results, financial condition, liquidity, development, prospects, expected growth, strategies and opportunities and the markets in which the Company operates. Forward-looking statements are statements that do not relate to historical facts and can be identified by the fact that they contain expressions such as "believes", "expects", "anticipates", "intends", "estimates", "will", "may", "assumes", "should", "could" and, in each case, the negatives thereof, or similar expressions. The forward-looking statements in this press release are based on various assumptions, which in several cases are based on additional assumptions. Although the Company believes that the assumptions reflected in these forward-looking statements are reasonable, there can be no assurance that they will occur or that they are correct. Because these assumptions are based on assumptions or estimates and are subject to risks and uncertainties, actual results or outcomes may, for a variety of reasons, differ materially from those set forth in the forward-looking statements. Such risks, uncertainties, contingencies and other material factors could cause actual events to differ materially from the expectations expressed or implied in this press release by the forward-looking statements. The Company does not warrant that the assumptions underlying the forward-looking statements in this press release are correct and any reader of the press release should not place undue reliance on the forward-looking statements in this press release. The information, opinions and forward-looking statements expressed or implied herein are provided only as of the date of this press release and are subject to change. Neither the Company nor anyone else undertakes to review, update, confirm or publicly release any revisions to any forward-looking statements to reflect events that occur or circumstances that occur with respect to the content of this press release, unless required by law or Nasdaq First North Growth Market's rules for issuers.
This information is information that BeammWave is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-08-29 17:31 CEST.
