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The Board of Directors of BeammWave AB (publ) ("BeammWave" or the "Company") has today, based on the authorization granted by the Annual General Meeting on 14 May 2025, carried out a directed issue of 1,740,000 Class B shares of approximately SEK 20 million to the institutional investor MetaSpace Fund (the "Directed Issue"). The Board of Directors of BeammWave has also, based on the authorization granted by the Annual General Meeting on 14 May 2025, resolved to carry out a rights issue of not more than 4,498,886 Class B shares to existing shareholders of a maximum of SEK 51.7 million (the "Rights Issue"). The subscription price in the Directed Issue and the Rights Issue amounts to SEK 11.50 per share. The Directed Issue and the Rights Issue are carried out in combination to effectively ensure that the Company strengthens the shareholder base through the Directed Issue, both the Directed Issue and the Rights Issue provide additional working capital and give the Company's shareholders the opportunity to enable to even further speed up and secure the ongoing industrialization of the Company's products and thus enabling high volume manufacturing.
Stefan Svedberg, CEO of BeammWave, comments:
"We are pleased with the continued interest from institutional investors and welcome MetaSpace Fund as a major shareholder. Expanding our base of institutional investors is important as BeammWave continues its commercial expansion and takes the next steps in the company's development. The capital will help us secure our ongoing industrialization, strengthen our technology leadership, and increase our commercial presence. We are equally pleased that we can offer all our existing shareholders the opportunity to participate on the same terms."
The Directed Issue
The Directed Issue, which was resolved by the Board of Directors based on the authorization granted by the annual general meeting on 14 May 2025, comprises 1,740,000 Class B shares in BeammWave at a price of SEK 11.50 per Class B share, corresponding to approximately SEK 20 million before issue costs. Through the Directed Issue, the Company has successfully acquired a new major owner, through the institutional investor MetaSpace Fund.
Background
In recent years, BeammWave has established itself as an innovation-driven company in miniaturized communication solutions for frequencies above 24 GHz (millimeter wave). Through the research and development work, the Company has developed a patented, chip-based solution for digital beamforming intended for the next generation of 5G and 6G - consisting of a radio chip and digital chip including the beamforming algorithms. This technology development has formed the foundation for the Company and has taken BeammWave to a commercial tipping point.
In 2026, BeammWave has taken further steps from being a pure development company towards establishing itself as a commercial supplier. The technology is currently being evaluated together with international players in telecom, and the Company is driving the strategic work to establish digital beamforming as a standardized reference architecture for 6G. In parallel with the main focus on traditional wireless infrastructure, the Company sees an interest in new application areas such as the defense industry, satellite communication, and fixed wireless access (FWA). The dialogues with existing and potential partners are developing positively, confirming that the market maturity and demand for the Company's technology have strengthened.
Against this background, BeammWave is in a phase where continued investments are required to ride on the momentum. The proceeds are intended to secure industrialization, including further development of the Company's silicon-based platforms and prototype series, as well as to scale up the Company's commercial presence and sales organization. The Company also sees high value in connecting with strategic investors with relevant industry understanding, international networks and financial strength to support the expansion journey. These initiatives are expected to accelerate the opportunities for new strategic collaborations and geographic expansion, strengthening the Company's market position and long-term growth.
Through the Directed Issue, the Company intends to add to the shareholder base an institutional investor, which is deemed to be beneficial for the Company, its long-term ownership structure and the liquidity of the share.
Deviation from shareholders' preferential rights
Prior to the Directed Issue, the Company's Board of Directors has made an overall assessment and carefully considered the possibility of only raising capital through a new share issue with preferential rights for the Company's shareholders, as was most recently done in the Company's rights issue in August 2025. The Board of Directors has found that this time there are predominant reasons for deviating from the shareholders' preferential rights and carrying out a directed share issue as well as a rights issue. The Board of Directors believes that it is of significant value for the Company, and beneficial for all shareholders, to further diversify and strengthen the Company's shareholder base with an institutional investor, among other things in order to improve liquidity of the Company's Class B share. The Board of Directors further assesses that a rights issue could not be carried out in the same order of magnitude as the Directed Issue without a significant discount and would take longer to complete, which, especially under the current volatile market conditions, would entail exposure to market risks and entail significantly higher costs for the Company, attributable to, among other things, the procurement of a guarantee consortium. In addition, the Board of Directors believes that the efficiency of the procedure is considered to make it easier for the Company to be able to capitalize more quickly on current growth opportunities in the short term and to make the investments that the Company deems necessary to enable industrialization, further develop production capacity and increase its commercial presence. Based on these reasons, the Board of Directors has made an assessment that a directed issue of Class B shares with deviation from the shareholders' preferential rights is the most advantageous alternative for the Company to carry out the capital raising.
In connection with the resolution on the Directed Issue, the Board of Directors has taken particular account of the requirement for market terms. The terms of the Directed Issue (and thereby also the terms of the Rights Issue) have been determined through a market-based process at arm's length, similar to a bookbuilding procedure, with the investors in the Directed Issue, which ensures that the terms of both issues are in line with market conditions and that the Directed Issue may be considered to be in the best interests of both the Company and the shareholders.
The Rights Issue
The Board of Directors of BeammWave wishes to safeguard the opportunity for all existing shareholders to participate in the Company's financing. The Board of Directors of BeammWave has thus, based on the authorization granted by the Annual General Meeting on 14 May 2025, also resolved to carry out the Rights Issue in accordance with the following main terms and conditions.
- The Rights Issue comprises a maximum of 4,498,886 Class B shares.
- Any shareholder who is registered in the share register maintained by Euroclear Sweden AB on the record date, 20 May 2026, has preferential rights to subscribe for Class B shares in the Rights Issue.
- One (1) existing share (both Class A and Class B shares) held on the record date entitles to one (1) subscription right. Ten (10) subscription rights entitle the holder to subscribe for one (1) newly issued Class B share.
- The subscription price in the Rights Issue amounts to SEK 11.50 per share. The subscription price per Class B share in the Rights Issue corresponds to the subscription price per Class B share in the Directed Issue.
- The last day of trading in BeammWave's share including the right to receive subscription rights is 18 May 2026 and the first day of trading excluding the right to receive subscription rights is 19 May 2026.
- The subscription period in the Rights Issue runs from 25 May 2026 up to and including 9 June 2026.
- Trading in subscription rights will take place on Nasdaq First North Growth Market from 25 May 2026 to 4 June 2026.
- The Company expects to announce the outcome of the Rights Issue on or about 10 June 2026.
The Company may, if the board of directors considers that there is sufficient investor interest and/or that it is beneficial for the Company to add additional strategic investors, carry out an additional issue of Class B shares with maximum issue proceeds of approximately SEK 25 million. Such additional issue is subject to the annual general meeting planned to be held on 20 May 2026 resolving on the required authorisation for the board of directors and, where applicable, the required amendment of the limits for the share capital and the number of shares in the Company's articles of association. If carried out, such additional issue will be resolved by the board of directors pursuant to such authorisation.
Complete terms and conditions for the Rights Issue and further information about the Company will be set out in the issue document that will be published by the Company before the start of the subscription period.
Total increase in share capital and number of shares
Through the Directed Issue, the number of Class B shares in the Company will increase by 1,740,000 shares from 40,391,867 shares to 42,131,867 shares and the Company's share capital will increase by SEK 171,973.9799, from SEK 4,446,502.5905 to SEK 4,618,476.5704. The Directed Issue entails a dilution of approximately 4 percent of the number of Class B shares and votes attributable to the Class B shares, based on the number of Class B shares after the Directed Issue.
After the completion of the Directed Issue has been registered and upon full subscription in the Rights Issue, the number of Class B shares in the Company will increase by additional 4,498,886 shares from 42,131,867 shares to 46,630,753 shares and the share capital will increase by an additional SEK 444,650.1899 from SEK 4,618,476.5704 to SEK 5,063,126.7602.
The Rights Issue entails a dilution of approximately 9.7 percent of the number of Class B shares and votes attributable to the Class B shares for existing shareholders who do not participate in the Rights Issue, based on the number of registered shares after the Directed Issue has been registered with the Swedish Companies Registration Office.
Following completion of the Directed Issue and upon full subscription in the Rights Issue, the number of Class B shares will increase by a total of 6,238,886 shares from 40,391,867 shares to 46,630,753 shares and the share capital will increase by SEK 616,624.1697 from SEK 4,446,502.5905 to SEK 5,063,126.7602. Through the Directed Issue and the Rights Issue, the total number of shares in the Company increases. BeammWave also has 4,597,000 Class A shares outstanding, which means that the total number of shares in the Company will increase from 44,988,867 shares to 51,227,753 shares and entail a total dilution of approximately 12.2 percent of the capital and 6.7 percent of the votes for existing shareholders who do not participate in the Rights Issue.
Advisors
Swedish North Point Securities acts as Financial Advisor, Advokatfirman Lindahl acts as legal advisor, and Nordic Issuing acts as issuing agent in connection with the Directed Issue and the Rights Issue.
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.
For further information, please contact:
Stefan Svedberg, CEO
+46 (0) 10 641 45 85
info@beammwave.com
About Us
BeammWave AB are experts in communication solutions for frequencies over 24GHz. The company is building a solution intended for 5G and 6G, in the form of a radio chip with antenna and associated algorithms. The company's approach with digital beamforming is unique and patented, with the aim of delivering a solution with higher performance at a lower cost. The company's Class B shares (BEAMMW B) are listed on the Nasdaq First North Growth Market in Stockholm. Certified Adviser is Redeye Nordic Growth AB.
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 2026-05-12 07:32 CEST.
