COMPANY ANNOUNCEMENT
Odense, March 5, 2026
Company announcement no. 79 - March 5, 2026
This company announcement contains inside information.
Danish Aerospace Company A/S to initiate a fully guaranteed
rights issue with gross proceeds of DKK 24.7 million
Danish Aerospace Company A/S
CVR no.: 12 42 42 48
THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY OR SUBSCRIBE FOR SECURITIES IN ANY JURISDICTION WHERE SUCH AN OFFER WOULD BE UNLAWFUL, AND THE ANNOUNCEMENT MAY NOT BE PUBLISHED, DISTRIBUTED OR DISCLOSED IN SUCH JURISDICTIONS.
The Board of Directors of Danish Aerospace Company A/S ("DAC" or the "Company") announces, in continuation of company announcement no. 77 of February 10, 2026, that the Company intends to initiate a fully guaranteed rights issue with the purpose to raise gross proceeds of DKK 24.7 million (the "Offering"). The Offering is expected to be initiated on March 19, 2026.
As announced in company announcements no. 74 of November 5, 2025, and no. 77 of February 10, 2026, the Company is in close dialogue with multiple commercial European and international aerospace and defense customers concerning partnership opportunities and delivery of equipment.
In order to strengthen the Company's ability to invest in the development of the Company's product portfolio and to strengthen DAC's capital structure and working capital, the Company's shareholders approved, at the extraordinary general meeting held yesterday, March 4, 2026, to grant the Board of Directors a new authorization to increase the Company's share capital with pre-emptive rights for existing shareholders at market price or at a discounted price. It is this new authorization in Article 2A.1.3 of the Articles of Association the Board of Directors intends to exercise in connection with the Offering.
The Company intends to use the net proceeds from the Offering to strengthen its capital structure by reducing debt, increasing working capital and investing in product development. The Company considers additional investments in product development of the portfolio necessary to win contracts with aerospace and defense customers.
Information and expected key terms for the Offering
- Launch date. The Offering is expected to launch on March 19, 2026.
- The Offering. The Offering shall be completed as a rights issue in which 8,237,154 new shares with a nominal value of DKK 0.10 each (the "New Shares") with pre-emptive rights for the existing shareholders of the Company (the "Existing Shareholders"), which will result in gross proceeds of DKK 24.7 million.
- Subscription and guarantee commitments. The Company has received binding subscription and guarantee commitments from certain Existing Shareholders and Members of the Board of Directors as well as certain external investors to subscribe for New Shares by exercise of pre-emptive rights and/or to subscribe for Remaining Shares (as defined below), which will secure the Company gross proceeds of DKK 24.7 million, corresponding to subscription for all New Shares in the Offering.
The following investors have provided binding subscription and guarantee commitments as set out in the table below:
| Investor | Gross proceeds (DKK) | Subscription commitment |
| M. Goldschmidt Capital A/S | 5,973,750.00 | Exercise of pre-emptive rights |
| FARGO ApS | 1,500,000.00 | Exercise of pre-emptive rights |
| Other Investors | 15,237,714.00 | Subscription of Remaining Shares |
The following Members of the Board of Directors have provided binding subscription commitments to subscribe for New Shares in the Offering:
| Board Member | Gross proceeds (DKK) | Subscription commitment |
| Niels Heering | 999,999.00(1) | Subscription of Remaining Shares |
Søren Bjørn Hansen (via Silver Bear Holdings ApS) | 999,999.00 | Subscription of Remaining Shares |
(1) Including DKK 40,719.00 through exercise of pre-emptive rights.
| Total pre-subscription and guarantee commitments | DKK 24,711,462.00 |
The Company has received guaranteed commitments to subscribe for Remaining Shares of DKK 15,237,714.00. Other Investors that have provided binding guarantee commitments will receive a fee from the Company on market terms.
- Subscription price. The subscription price for one (1) New Share is DKK 3.00.
- Allocation of pre-emptive rights. Each Existing Shareholder shall receive three (3) pre-emptive rights for each one (1) existing share in the Company that the respective Existing Shareholders hold in their account on March 24, 2026, at 17:59.
- Subscription ratio. Four (4) pre-emptive rights are required to subscribe for one (1) New Share in the Company.
- Rights trading period. The period for trading of pre-emptive rights is expected to begin on March 23, 2026, at 9:00 and end on April 8, 2026, at 17:00. Pre-emptive rights not exercised during the subscription period, or not sold during the rights trading period, will lapse with no value.
- Subscription period. The subscription period for New Shares is expected to begin on March 25, 2026, at 9:00 and end on April 10, 2026, 17:00.
- Remaining Shares. Shares that have not been subscribed for by Existing Shareholders through the exercise of pre-emptive rights, or by acquirers of pre-emptive rights before the expiry of the Subscription Period ("Remaining Shares"), may, without compensation to the holders of unexercised pre-emptive rights, be subscribed for by Existing Shareholders or new investors in certain jurisdictions pursuant to a subscription form, which will be published on the Company's website.
- Lock-up. For a period from the date hereof and 90 days after completion of the Offering, the Members of the Board of Directors and Executive Management have undertaken lock-up obligations, which prevent them from disposing of or otherwise transferring shares in the Company (subject to customary exceptions).
The Company expects, subject to approval by Nasdaq Copenhagen A/S, to publish a company announcement on March 19, 2026, in which all terms and conditions of the Offering will be set out, and which will constitute the subscription basis in connection with the Offering. To the extent that the Company decides not to proceed with the Offering or to proceed with the Offering at a later date or on different terms, this shall be announced in a company announcement.
Advisers
HC Andersen Capital acts as financial adviser to the Company, and Gorrissen Federspiel Advokatpartnerselskab acts as legal adviser to the Company.
Additional information
The Company expects to publish additional information regarding the Offering on March 19, 2026.
The Company extends an invitation to an online investor meeting with Thomas A.E. Andersen, CEO, on March 20, 2026. Investors can register for the event and ask questions via the link: Danish Aerospace Company - Investor Presentation.
For further information, please contact:
Danish Aerospace Company A/S:
Niels Heering, Chairman of the Board of Directors
Tel. no.: +45 40 17 75 31
Thomas A.E. Andersen, CEO
Tel. no.: +45 40 29 41 62
Mail: ta@danishaerospace.com
Certified Adviser:
HC Andersen Capital
Tel. no.: +45 30 93 18 87
Mail: ca@hcandersencapital.dk
Bredgade 23B, 2.
1260 København K
Information about the Company:
The Company develops and manufactures training equipment, biomedical equipment for health monitoring, and water filtration equipment for manned spaceflight, which can also be used by the military and in other extreme environments. Among other things, the Company has developed six generations of pulmonary physiology equipment for manned spaceflight, as well as several generations of ergometers and new combined training equipment for astronauts to maintain their physical fitness.
The equipment is also particularly relevant for situations on Earth where training and health monitoring are required and, in certain cases, essential for survival under extreme and particularly stressful conditions. The company is able to deliver highly reliable equipment thanks to its current workforce of more than 22 highly skilled employees specializing in areas such as electronics, mechanics and software programming, and has specialized in customer-specific design, development and manufacture of advanced equipment.
With more than 35 years of experience, exclusive rights to certain key technologies for use in the space industry, as well as non-exclusive rights for use in defense, and four patents on the technology in one of the Company's new E4D products, as well as recognized reference customers and a solid experience base from many years of collaboration with the international space agencies NASA and ESA, it is the Management's assessment that the Company has a unique position in the growing market for advanced biomedical equipment, both in the aerospace industry and in other extreme environments. The Company wishes to use this positioning to expand its customer portfolio to commercial customers within the aerospace industry, as well as the defense sector and other industries and sectors that operate in extreme environments.
Important notice:
This announcement does not constitute a prospectus as defined by Regulation (EU) 2017/1129 of June 14, 2017, as amended (the "Prospectus Regulation"), and this announcement is solely for the information of the Company's shareholders and does not constitute an offer or invitation to subscribe for or purchase subscription rights, shares or other securities in the Company. There will be no public offering of securities outside Denmark. Persons outside Denmark who come into possession of information about the Offering are encouraged by the Company to obtain information about and observe any restrictions and should examine the legislation, including tax consequences, that will be relevant to them prior to investing in securities issued by the Company.
This announcement does not constitute or form part of an offer to sell and should not be construed as a solicitation or invitation to subscribe for, sell or purchase securities in the United States. The securities of the Company have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or under the securities laws of any state or other jurisdiction in the United States, and may not be offered, pledged, sold, delivered, subscribed for, resold or otherwise transferred, directly or indirectly, in or into the United States without registration or valid exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and, in any case, in compliance with applicable state securities laws. There is no intention to make a public offering of securities in the United States.
This announcement contains certain forward-looking statements, including statements about the Company's activities. Such forward-looking statements are based on information, assumptions, and assessments that the Company considers reasonable. These forward-looking statements involve known and unknown risks, uncertainties, and other important factors that may cause the Company's actual results, performance, or achievements or the industry's results to be materially different from any future results, performance, or achievements expressed or implied by these forward-looking statements. If one or more of these risks or uncertainties materialise, or if an underlying assumption proves to be incorrect, the Company's actual financial position or operating results may differ materially from those described as assumed, assessed, estimated, or expected.
Potential investors, companies, and advisers should be aware that investments in companies whose shares are admitted to trading on Nasdaq First North Growth Market Denmark may be riskier than investments in listed companies on a regulated market (main market) as defined in EU legislation (and implemented in national law). Instead, they are subject to a less comprehensive set of rules and regulations tailored to smaller growth companies. Companies on Nasdaq First North Growth Market often have a shorter operating history and are therefore more sensitive to external and internal influences and fluctuations. Similarly, the liquidity, and thus the tradability, of shares admitted to trading on Nasdaq First North Growth Market Denmark may be more limited than for investments in shares listed on the main market.
This is a translation of the corresponding company announcement in Danish. In case of discrepancies between the Danish wording and the English translation, the Danish wording prevails.
