Pressmeddelanden

AAC Microtec executes directed new issue of SEK 50 million

The Board of Directors of ÅAC Microtec Group AB ("AAC" or the "Company") has, subject to approval by a general meeting with the shareholders, and as indicated in the press release published on 21st December 2017, resolved to issue 6 535 948 new shares at the price of SEK 7,65 per share. The price was established through a so called "accelerated book-building" procedure led by G&W Capital ("G&W"). The new share issue was directed to a limited number of Swedish professional investors.

NOT FOR DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, WITHIN OR TO THE UNITED STATES, AUSTRALIA, HONG KONG, JAPAN, CANADA, SWITZERLAND, SOUTH AFRICA OR NEW ZEALAND OR IN ANY OTHER JURISDICTION WHERE THE DISTRIBUTION OR PUBLICATION OF THIS PRESS RELEASE WOULD BE UNLAWFUL

The reasons for the deviation from the shareholders' preferential rights was mainly to bring new shareholders into the Company and at the same time strengthen the Company's financial position.

The proceeds from the directed new issue are intended to finance accelerated expansion, nearby acquisition opportunities and development of AAC, its market and its products.

The directed new issue will result in gross proceeds to the Company of MSEK 50 (before transaction related costs). It is the board of directors' opinion that the transaction promotes AAC's possibilities to create further value for all shareholders. None of the investors are part of the board or management of the Company or otherwise closely related to the Company.

The subscription price of SEK 7,65 for the new shares implies a discount of 8,9 percent based on the volume weighted average price of AAC's shares on Nasdaq First North during the ten (10) trading days up to and including the date of the signing of the share purchase agreement (i.e. the day of this announcement). The subscription price for the share is based on the accelerated book-building procedure led by G&W on 21st December 2017 and AAC has thereby ensured that the subscription price corresponds to fair market standards.

The new shares will be admitted to trading on Nasdaq First North following approval by the general meeting of the shareholders, payment and registration.

The Company today has a share capital of SEK 1,268,394 divided between a total number of 31,709,850 shares. The new share issue will entail a dilution for the current shareholders of approximately 17 per cent calculated by dividing the number of new shares and votes with the total number of shares and votes in the Company after registration of the new shares.

Advisers

G&W acts as Sole Lead Manager and Bookrunner in connection with the directed new issue. Setterwalls Advokatbyrå acts as legal adviser to AAC.

21st December 2017 

For more information, please contact:

Mr. Rolf Hallencreutz, Chairman of AAC Microtec AB
rolf.hallencreutz@aacmicrotec.com

The information in this press release is such that ÅAC Microtec AB (publ) shall announce publicly according to the EU Regulation No 596/2014 on market abuse (MAR). The information was submitted for publication, through the agency of the contact person set out above, at 22:00 CET on 21st December 2017.

About AAC

AAC provides high value space solutions and systems for commercial, governmental and educational customers on the global market through its direct sales and marketing with representation in Europe and the USA as well as a partner network in Japan and South Korea.

The company has a rare ability to produce advanced satellite platforms, sub-systems and components with robust electronics at a competitive price. AAC has a strong competitive advantage in that it operates with ITAR-free products in the high-end segment of the small satellite market. The products are flight-proven and has strong heritage.

Today, AAC supplies a wide range of end-users with state-of-the-art microelectronics systems plus technology services and support. Customers include the European Space Agency (ESA), NASA, the US Air Force Research Laboratories (AFRL), JAXA, the Swedish National Space Board (SNSB) and Swedish Defence Materiel Administration (FMV), as well as leading industrial groups now using our aerospace compliant devices in innovative products and applications.

AAC is a publicly listed company on Nasdaq First North in Sweden. Major owners include Swedish Government-backed VC-firm Fouriertransform, RP Ventures, and other institutional investors.

IMPORTANT INFORMATION

NOT FOR DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, WITHIN OR TO THE UNITED STATES, AUSTRALIA, HONG KONG, JAPAN, CANADA, SWITZERLAND, SOUTH AFRICA OR NEW ZEALAND OR IN ANY OTHER JURISDICTION WHERE THE DISTRIBUTION OR PUBLICATION OF THIS PRESS RELEASE WOULD BE UNLAWFUL.

This announcement is not and does not form a part of any offer for sale of securities. Copies of this announcement are not being made and may not be distributed or sent into the United States, Australia, Hong Kong, Japan, Canada, Switzerland, South Africa or New Zealand or any other jurisdiction in which such distribution would be unlawful or would require registration or other measures.

This announcement is for information purposes only and does not constitute a prospectus or any offer to sell or the solicitation of an offer to buy any security in the United States or any other jurisdiction. Any securities that may be issued in connection with the transactions referred to in this announcement will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and accordingly will not be offered or sold in the United States.

This announcement is not a prospectus for the purposes of Directive 2003/71/EC (together with any applicable implementing measures in any Member State, the "Prospectus Directive").

Matters discussed in this announcement may constitute forward-looking statements. Forward-looking statements are statements that are not historical facts and may be identified by words such as "believe," "expect," "anticipate," "intend," "estimate," "will," "may," "continue," "should" and similar expressions. The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although ÅAC Microtec AB believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors which are difficult or impossible to predict and are beyond its control. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this announcement by such forward-looking statements. The information, opinions and forward-looking statements contained in this announcement speak only as at its date, and are subject to change without notice.

2018-08-31
Regulatorisk

ÅAC vinner order på ett kraftdelsystem för en helt ny rymdapplikation. Kraftdelsystemet ska levereras under 2019 och ordervärdet uppgår till ca 5,2 MSEK.

2018-08-31
Regulatory

ÅAC wins an order for the supply of a power subsystem to be utilized in a new application. The power subsystem will be delivered during 2019 and order value is approximately 5.2 MSEK.

2018-08-23
Regulatorisk

Andra kvartalet 2018

  • Nettoomsättningen uppgick till 22,1 (5,0) MSEK.
  • Rörelseresultatet före avskrivningar, EBITDA, uppgick till -5,6 (-4,8) MSEK
  • Rörelseresultatet efter avskrivningar uppgick till -18,4 (-6,1) MSEK. Goodwillavskrivning i enlighet med redovisningsregelverket K3 relaterade till förvärvet av Clyde Space Ltd uppgick till 10,2 MSEK
  • Resultat efter skatt uppgår till -18,7 (-6,1) MSEK
  • Resultat per aktie före och efter utspädning uppgick till -0,27 (-0,19) SEK
  • Order på batterier från York Space Systems
  • Order på sammanlagt 25,6 MSEK från aspirerande satellitkonstellationer
  • Ökning av aktiekapital genom teckning av teckningsoption TO1
2018-08-22
Regulatorisk

ÅAC Microtec AB Brittiska staten stödjer företag som arbetar med innovativa projekt och som gör framsteg inom vetenskap och teknik. Stödet sker genom en skattebefrielse (R&D Tax Credit). Clyde Space kvalificerar sig för skattebefrielsen genom den pågående utvecklingen av branschledande CubeSat-plattformar och delsystem.

2018-08-22
Regulatory

ÅAC Microtec AB Research and development (R&D) tax credits are a UK government tax relief supporting companies that work on innovative projects making advances in science and technology. Clyde Space qualifies for R&D tax credits due to the ongoing development of industry leading CubeSat platforms and subsystems.

2018-08-20
Regulatorisk

ÅAC har vunnit en order från kanadensiska Kepler Communications för leverans av en satellitplattform till deras Machine-to-Machine kommunikationslösning. Konstellationen är en föregångare till Keplers kommande GEN1-konstellation. Ordervärdet uppgår till ca 3,5 MSEK och omfattar leverans av en 6U-satellit under tredje kvartalet 2019 samt drifttagande av satelliten i omloppsbana.

2018-08-20
Regulatory

ÅAC wins an order from Kepler Communications of Canada aiming to deliver a spacecraft platform for their Machine-to- Machine communications service. This mission is a precursor to their forthcoming GEN1 constellation. Including both satellite platform and on-orbit commissioning services, the order value is worth approximately 3.5 MSEK, with the platform to be delivered in Q3 2019.

2018-08-09
Regulatorisk

ÅAC vinner ytterligare en uppföljningsorder från en japansk kund för leverans av den senaste generationen av Sirius delsystem som denna gång uppgraderas med LEON3FT-mjukvaruprocessorn. Delsystemen ska integreras i kundens satellit som planeras att skjutas upp under 2019/2020. Värdet av ordern som förväntas levereras under fjärde kvartalet 2018, är cirka 1,4 MSEK.

2018-08-09
Regulatory

ÅAC wins yet another follow-on order from a Japanese customer for supply of the latest Sirius avionics subsystem, this time based on the LEON3FT soft core processor. The subsystems will be integrated in the customer's satellite that is expected to be launched in 2019-2020. The order, which is expected to be delivered in Q4 2018, is valued at approximately 1.4 MSEK.

2018-05-31
Regulatorisk

ÅAC har vunnit en bindande order från Space Systems Engineering Ukraine (SSE) för leverans av avionik och kraftdelsystem till deras "In-Orbit-Demonstration" uppdrag. Ordern ska kompletteras med ett slutgiltigt avtal där viss konfiguration av delsystemen specificeras. Ordervärdet är cirka 10,3 MSEK och leveranser påbörjas tredje kvartalet 2018 avslutas andra kvartalet 2019.

2018-05-31
Regulatory

ÅAC wins a binding order from Space Systems Engineering Ukraine (SSE) for the supply of avionics and power subsystems for their In-Orbit-Demonstration mission. The binding order is subject to a final agreement aiming to finalize some of the equipment configuration. The order value is approximately 10.3 MSEK and will be delivered in batches from Q3 2018 to Q2 2019.

2018-05-24
Regulatorisk

STARK START FÖR NYA KONCERNEN

Första kvartalet 2018

  • Nettoomsättningen uppgick till 16,4 (3,8) MSEK. Det under januari 2018 förvärvade bolaget Clyde Space Ltd ingår i omsättning och resultat från och med februari, dvs med 2 månader i denna kvartalsrapport
  • Rörelseresultatet före avskrivningar uppgick till -3,7 (-4,1) MSEK
  • Rörelseresultatet efter avskrivningar uppgick till -12,8 (-5,4) MSEK. Resultatet har belastats med avskrivning av goodwill om 6,8 MSEK relaterat till förvärvet av Clyde Space Ltd
  • Resultat per aktie före och efter utspädning uppgick till -0,22 (-0,17) SEK
  • ÅAC förvärvade Clyde Space per 30 januari 2018
  • Riktad nyemission om 50 MSEK
  • Ny listningsprocess genomfördes och godkändes av Nasdaq First North Stockholm efter förvärvet av Clyde Space
  • Craig Clark och Andrew Strain från Clyde Space till ÅAC:s ledningsgrupp efter genomfört förvärv
  • ÅAC vann, genom dotterbolaget Clyde Space, sitt första kontrakt på uppskjutning av en satellit
  • ÅAC vann genom dotterbolaget Clyde Space ett driftavtal
2018-05-24
Regulatorisk

ÅAC Microtec AB ÅAC har vunnit en order från ett bolag i Sydamerika på delsystem till deras kommande satellitkonstellation. Ordervärdet är ca 7,2 MSEK, med möjlighet till ytterligare 4,9 MSEK i början av 2019 avhängigt av planering och tillgängliga uppskjutningsmöjligheter för den senare delen av konstellationen. Ordern levereras under perioden 2018-Q4 till 2019- Q2.

2018-05-24
Regulatory
ÅAC Microtec AB ÅAC Microtec wins an order from a South American space company aiming to deliver subsystems to their forthcoming constellation. The order value is approximately 7.2 MSEK with an option to extend the order by an additional 4.9 MSEK in early 2019, subject to planning and availability of launch opportunities for the later part of the constellation. The order will be delivered between Q4 2018 and Q2 2019.
2018-05-23
Regulatorisk

ÅAC Microtec AB I tillägg till den tidigare kommunicerade uppskattningen av omsättningen om 85 MSEK för 2018 räknar ÅAC Microtec med att ett positivt EBITDA-resultat uppnås under fjärde kvartalet 2018.

2018-05-23
Regulatory
ÅAC Microtec AB In addition to the previously announced estimate of total turnover of MSEK for 2018, ÅAC Microtec expects a positive EBITDA result during the fourth quarter of 2018.
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