COMPANY ANNOUNCEMENT
Odense, April 14, 2026
Company Announcement no. 81 - April 14, 2026
This company announcement contains inside information.
Danish Aerospace Company A/S raises DKK 24.7 million in rights issue
Danish Aerospace Company A/S
CVR no.: 12 42 42 48
NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR TO ANY JURISDICTION WHERE IT WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR FORM PART OF AN OFFER TO SELL OR A SOLICITATION TO BUY OR SUBSCRIBE FOR SECURITIES IN ANY JURISDICTION WHERE IT WOULD BE UNLAWFUL TO DO SO.
Danish Aerospace Company A/S ("DAC" or the "Company") today announces the results of the rights issue announced on March 19, 2026 (the "Offering" or the "Rights Issue") offering new shares with a nominal value of DKK 0.10 each (the "New Shares") at a subscription price of DKK 3.00 per New Share with pre-emptive subscription rights (the "Pre-emptive Rights") for the Company's existing shareholders.
Reference is made to company announcement no. 80 published by the Company on March 19, 2026.
The full Offering of 8,237,154 New Shares has been subscribed for, including through subscription and guarantee commitments, raising total gross proceeds to the Company of DKK 24.7 million.
"We are very pleased to have raised gross proceeds of DKK 24.7 million. We look forward to putting the proceeds to work in accelerating our product development and growth within aerospace and defence" says Thomas A. E. Andersen, Chief Executive Officer of the Company.
"We are delighted that all New Shares have been subscribed for. The Board of Directors is grateful to all investors who have chosen to support our ambitions and strategy within aerospace and defence" says Niels Heering, Chair of the Board of Directors of the Company.
Highlights of the Offering
- The Company has secured total gross proceeds of DKK 24.7 million through the Offering;
- 81.99% of the New Shares have been subscribed through the exercise of Pre-emptive Rights and through use of the application form (the "Application Form") for New Shares not subscribed for by exercise of Pre-emptive Rights (the "Remaining Shares"); and
- 18.01% of the New Shares have been subscribed for through binding guarantee commitments ("Guarantee Commitments").
Allocation of Remaining Shares
The Board of Directors has resolved that Remaining Shares will be allocated as follows:
- all orders for Remaining Shares by use of the Application Form for Remaining Shares will receive full allocation;
- orders for Remaining Shares through Guarantee Commitments will receive pro-rata allocation.
Subscription by members of the Board of Directors and the Executive Management
The Chair of the Board of Directors, Niels Heering, has subscribed for 333,333 New Shares, the Deputy Chair, Søren Bjørn Hansen (through Silver Bear Holdings ApS), has subscribed for 333,333 New Shares and the Company's CEO, Thomas A.E. Andersen, has subscribed for 2,000 New Shares in the Offering.
Timetable
The Company expects to complete the Offering on April 17, 2026 after receipt of all subscription amounts, upon which the capital increase will be registered with the Danish Business Authority.
As soon as possible after registration of the New Shares with the Danish Business Authority, the New Shares will be admitted to trading on Nasdaq First North Growth Market Denmark ("Nasdaq First North") under the existing ISIN code for the Company's existing shares, DK0061140407, expectedly on April 20, 2026.
The temporary ISIN code is expected to be merged with the existing ISIN code on April 21, 2026 after 5:59 p.m. CEST.
The Offering may be withdrawn by the Company at any time before registration of the capital increase relating to the Offering with the Danish Business Authority. Any withdrawal of the Offering, if relevant, will be announced as a company announcement through Nasdaq First North.
The full terms and conditions of the Offering are described in company announcement no. 80 published by the Company on 19 March, 2026.
Advisers
HC Andersen Capital acts as financial adviser to the Company, and Gorrissen Federspiel Advokatpartnerselskab acts as legal adviser to the Company.
Settlement agent
Nordea acts as settlement agent in connection with the Offering.
Please contact the following for further information:
Danish Aerospace Company A/S
Niels Heering, Chairman of the Board
Tel.: +45 40 17 75 31
Thomas A. E. Andersen, CEO
Tel.: +45 40 29 41 62
Email: ta@danishaerospace.com
Certified Adviser
HC Andersen Capital
Tel.: +45 30 93 18 87
Email: ca@hcandersencapital.dk
Bredgade 23B, 2nd Floor
1260 Copenhagen K
Information about the Company
The Company develops and manufactures exercise equipment, biomedical health monitoring equipment, and water filtration equipment for manned spaceflight, which can also be used by the military and in other extreme environments. For example, the Company has developed six generations of pulmonary physiological equipment for manned spaceflight, as well as several generations of ergometers and a new combined training device to help astronauts maintain their physical fitness.
The equipment is also particularly relevant for situations on the ground where training and health monitoring are required, and in certain cases essential for survival under extreme and particularly demanding conditions. The Company is able to deliver highly reliable equipment thanks to its current staff of over 22 highly skilled employees specialising in fields such as electronics, mechanics, and software programming, and has specialised in customer-specific design, development, and manufacturing 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 the defence sector, and four patents on the technology in one of the Company's new E4D products, as well as recognised reference customers and a solid track record from many years of collaboration with the international space agencies NASA and ESA, it is the Management's assessment that the Company holds a unique position in the growing market for advanced biomedical equipment, both in the aerospace industry and in other extreme environments. The Company intends to leverage this positioning to expand its customer portfolio to include commercial customers within the aerospace industry, as well as the defence sector and other industries operating 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"). There will be no offer of securities to the public 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.
The Company makes no representation to any investor regarding the legality of an investor's investment in the New Shares or Pre-emptive Rights under the laws applicable to such investor. Each investor should consult with their own advisers regarding the legal, tax, business, financial, and other aspects of an investment in the New Shares or Pre-emptive Rights in the investor's home country in connection with the acquisition, holding, or disposal thereof.
This announcement is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into any jurisdiction in which such release, publication or distribution would be unlawful and this announcement does not constitute an offer to sell or the solicitation of an offer to subscribe for or buy any of the Pre-emptive Rights and/or New Shares in any jurisdiction to any person to whom it would be unlawful to make such an offer in such a jurisdiction. The New Shares or the Pre-emptive Rights have not been and will not be registered under any applicable securities laws of any state, province, territory, county or jurisdiction outside of Denmark. Accordingly, the New Shares or the Pre-emptive Rights may not be offered, sold, resold, taken up, exercised, renounced, transferred, delivered or distributed, directly or indirectly, in or into any jurisdiction, if to do so would constitute a violation of the relevant laws of, or require registration of the Pre-emptive Rights and the New Shares in the relevant jurisdiction. Although Existing Shareholders, regardless of the jurisdiction in which they reside, have been allocated Pre-emptive Rights, due to restrictions under applicable laws and regulations in Denmark and/or jurisdictions outside of Denmark, certain Existing Shareholders may not be able to receive this announcement and may not be able to exercise their allocated Pre-emptive Rights and to subscribe for the New Shares. The Company makes no offer or solicitation to any person under any circumstances that may be unlawful.
In relation to each member state of the EEA (except Denmark) (each a "Relevant Member State"), Pre-emptive Rights or New Shares have not been and will not be offered to the public in that Relevant Member State. In all Relevant Member States other than Denmark, this company announcement is directed solely at, and is intended solely for, investors in the applicable Relevant Member State who meet the criteria for exemption from the obligation to publish a prospectus or equivalent offering document.
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.
In the United Kingdom, this announcement is for distribution only to, and is only directed at and intended for, qualified investors (as defined in the Prospectus Regulation as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 ("UK Prospectus Regulation")) who: (i) are persons who have professional experience in matters relating to investments falling within the meaning of Article 19(5) of the Financial Services Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order"); (ii) are persons falling within Article 49(2)(a) to (d) (high net worth companies, unincorporated associations, etc.) of the Order; or (iii) are other persons to whom they may otherwise lawfully be communicated (all such persons, together being referred to as "Relevant Persons"). In the United Kingdom, this announcement is directed only at Relevant Persons and must not be acted on or relied on by anyone who is not a Relevant Person. In the United Kingdom, any investment or investment activity to which this announcement is related is available only to relevant persons and will be engaged in only with relevant persons.
In relation to Russia and Belarus, no offering of securities will be made to any Russian or Belarusian national, any natural person residing in Russia or Belarus (except for EU, EEA or Swiss nationals and persons holding an EU, EEA or Swiss residence permit, subject to the restrictions in the Prospectus Regulation), any legal person, entity, or body established in Russia or Belarus (including EU branches of such legal persons, but excluding subsidiaries of Russian or Belarus legal entities organised or incorporated within the EU, subject to the restrictions in the Prospectus Regulation), or any natural or legal person where the issuance of shares to such person would result in a breach of applicable economic or financial sanctions, laws and/or regulations, trade embargoes, boycotts, prohibitions, restrictive measures, decisions, executive orders or notices from regulators implemented, adapted, imposed, administered, enacted and/or enforced by any of (i) the United States, (ii) the United Nations, (iii) the European Union and/or any member state thereof, (iv) the State Secretariat of Economic Affairs of Switzerland, (v) HM Treasury of the United Kingdom, and (vi) any other applicable country or jurisdiction.
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, such as the Company, 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, such companies are subject to a less comprehensive set of rules and regulations tailored to smaller growth companies. Companies on Nasdaq First North 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 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.
