THIS PRESS RELEASE IS NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, BELARUS, HONG KONG, JAPAN, CANADA, NEW ZEALAND,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, THE UNITED KINGDOM, SOUTH AFRICA, SOUTH KOREA, OR ANY OTHER JURISDICTION WHERE SUCH DISTRIBUTION REQUIRES ADDITIONAL PROSPECTUSES, REGISTRATION OR OTHER MEASURES IN ADDITION TO THOSE REQUIRED UNDER SWEDISH LAW, IS PROHIBITED, OR OTHERWISE CONTRAVENES APPLICABLE RULES IN SUCH JURISDICTION OR CANNOT BE MADE WITHOUT APPLICATION OF EXEMPTIONS FROM SUCH MEASURES. FOR FURTHER INFORMATION, SEE THE SECTION "IMPORTANT INFORMATION" AT THE END OF THIS PRESS RELEASE
Midsummer AB (publ) ("Midsummer" or the "Company") announces the preliminary outcome of the fully secured rights issue of approximately SEK 175 million (the "Rights Issue"). The subscription period ended yesterday on 19 January 2026 and the preliminary outcome indicates that 66,673,940 shares, corresponding to approximately 52.7 percent of the Rights Issue have been subscribed for with the support of subscription rights.
Additionally, applications for subscription of 9,132,088 shares without the support of subscription rights, corresponding to approximately 7.2 percent of the Rights Issue, have been received. In aggregate, subscriptions with and without the support of subscription rights amount to approximately 59.9 percent of the Rights Issue. Hence, guarantee commitments of preliminary 50,703,407 shares, corresponding to approximately 40.1 percent of the Rights Issue, will be utilised. The Rights Issue will provide the Company with proceeds of approximately SEK 175 million before deduction of costs related to the Rights Issue.
Number of shares and share capital
Those who have subscribed for shares without the support of subscription rights will be allotted shares in accordance with the principles set out in the information document published by the Company on 29 December 2025. Notice of allotment to the persons who subscribed for shares without the support of subscription rights is expected to be distributed via contract note on 22 January 2026. Allotted shares shall be paid in cash in accordance with the instructions on the contract note. Subscribers who have subscribed through a nominee will receive notification of allotment in accordance with their respective nominee's procedures. Only those who have been allotted shares will be notified.
Final outcome
SB1 Markets, Swedish branch, is Sole Global Coordinator in connection with the Rights Issue. Corpura Fondkommission and SB1 Markets have jointly procured the guarantee consortium. Advokatfirman Lindahl acts as legal advisor to Midsummer in connection with the Rights Issue. Gernandt & Danielsson Advokatbyrå acts as legal advisor to SB1 Markets in connection with the Rights Issue.
Contact persons:
CEO, Midsummer
Tel: +46 8 525 09 610
Robert Sjöström
Email: robert.sjostrom@midsummer.se
Midsummer is a Swedish solar energy company that develops, manufactures, and sells solar cells to construction, roofing and solar cell installation companies and also manufactures, sells and installs solar roofs directly to end customers. The Company also develops and sells equipment for the production of flexible thin film solar cells to strategically selected partners and machinery for research. The solar cells are of CIGS technology (consist of copper, indium, gallium and selenide) and are thin, light, flexible, discreet and with a minimal carbon footprint compared with other solar panels.
The solar roofs are produced in Sweden using the Company's own unique DUO system which has taken the position as the most widespread manufacturing tool for flexible CIGS solar cells in the world. The Company's shares (MIDS) are traded on Nasdaq First North Premier Growth Market. The Company's Certified Adviser is Tapper Partners AB. For more information, please visit: midsummer.se
Important information
This press release contains forward-looking statements that relate to the Company's intentions, assessments or expectations regarding the Company's future results, financial position, liquidity, development, prospects, expected growth, strategies and opportunities and the markets within which the Company operates. Forward-looking statements are statements that do not relate to historical facts and may 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, negations thereof, or similar expressions. The forward-looking statements in this press release are based on various assumptions, many of which are based on further assumptions. Although the Company believes that the assumptions reflected in these forward-looking statements are reasonable, it cannot be guaranteed that they will occur or that they are correct. Since these assumptions are based on assumptions or estimates and are subject to risks and uncertainties, the actual result or outcome may, for many different reasons, differ materially from what appears in the forward-looking statements. Such risks, uncertainties, contingencies and other material factors may cause the actual course of events to differ materially from the expectations expressly or implicitly stated in this press release through the forward-looking statements. The Company does not guarantee that the assumptions underlying the forward-looking statements in this press release are correct and each reader of the press release should not unduly rely on the forward-looking statements in this press release. The information, opinions and forward-looking statements that are expressly or implicitly set forth 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 announce any revision of any forward-looking statement to reflect events that occur or circumstances that arise regarding the content of this press release, unless required by law or the Nasdaq First North Growth Market Rulebook for Issuers of Shares.
Information to distributors
In order to meet the product governance requirements contained in: (a) Directive 2014/65/EU of the European Parliament and of the Council on markets in financial instruments, as amended, ("MiFID II"); (b) Articles 9 and 10 of Commission Delegated Directive (EU) 2017/593 supplementing MiFID II; and (c) national implementing measures (together the "Product Governance Requirements in MiFID II") and to disclaim all extra-contractual, contractual or other liability that any "manufacturer" (within the meaning of the Product Governance Requirements in MiFID II) may otherwise be subject to, the offered shares have been subject to a product approval process, which has determined that these securities are: (i) suitable for a target market consisting of non-professional investors and investors who meet the criteria for professional clients and eligible counterparties, as defined in MiFID II; and (ii) suitable for distribution through all distribution channels permitted under MiFID II (the "Target Market Assessment").
Notwithstanding the Target Market Assessment, distributors should note that: the price of the Company's shares may fall and investors may lose all or part of their investment, that the Company's shares are not associated with any guarantee regarding return or capital protection and that an investment in the Company's shares is only suitable for investors who are not in need of guaranteed return or capital protection and who (alone or with the help of appropriate financial or other advisors) are capable of evaluating the benefits and risks of such an investment and who have sufficient resources to bear the losses that such an investment may result in. The Target Market Assessment does not affect other requirements regarding contractual, legal or regulatory sales restrictions in connection with the Rights Issue or the agreement regarding the bonds.
The Target Market Assessment does not constitute, for the avoidance of doubt, (a) a suitability or appropriateness assessment within the meaning of MiFID II or (b) a recommendation to any investor or group of investors to invest in, acquire, or take any other action regarding the Company's shares.
Each distributor is responsible for conducting its own Target Market Assessment regarding the Company's shares and for deciding on appropriate distribution channels.
