AAC Clyde Space completes acquisition of Spacemetric AB
2024-10-01 AAC Clyde Space AB (publ)
AAC Clyde Space announced on 3 July 2024, that an agreement to acquire 100 percent of the outstanding shares in Spacemetric AB ("Spacemetric") had been entered into with the shareholders of Spacemetric. AAC Clyde Space can now inform that the transaction has been completed and that the AAC Group is thus further expanded and strengthened.
In connection with closing, the board of directors in AAC Clyde Space, with support from the authorisation granted at the annual general meeting held on 23 May 2024, resolved to issue 188,000 shares and 106,800 warrants to the current shareholders in Spacemetric, entailing a total increase of AAC Clyde Space's share capital with SEK 589,600, provided that all earn-out milestones are fulfilled and that the warrants are exercised for subscription of shares.
The consideration shares received as payment on closing are subject lock-up undertakings, whereby one third of the shares are subject to a lock-up for 360 days, one third of the shares are subject to a lock-up for 630 days and one third of the shares are subject to a lock-up for 810 days. Shares issued by exercise of the warrants will be subject to a lock-up for 360 days.
Luís Gomes, AAC Clyde Space CEO commented "I would like to welcome our new colleagues from Spacemetric to the AAC Clyde Space group. Their expertise will be invaluable in the expansion of our Earth Observation operations, both for our own Data & Services offerings and for our EO satellite customers, to whom we can now offer the complete solution to process and manage imaging data together with their satellite. Together we will make it easier for user to access the Earth Observation data that they need."
For further information on the transaction, please refer to the press release issued on 3 July 2024, which is available on www.aac-clyde.space.
FOR MORE INFORMATION:
Please visit: www.aac-clyde.space or contact:
CEO Luis Gomes, [email protected]
CFO Mats Thideman, [email protected], mobile +46 70 556 09 73
ABOUT AAC CLYDE SPACE
AAC Clyde Space specialises in small satellite technologies and services that enable businesses, governments and educational organisations to access high-quality, timely data from space. Its growing capabilities bring together three divisions:
Space Data as a Service - delivering data from space directly to customers
Space missions - turnkey solutions that empower customers to streamline their space missions
Space products and components - a full range of off-the-shelf and tailor-made subsystems, components and sensors
AAC Clyde Space aims, in our chosen markets, to become a world leader in commercial small satellites and services from space, applying advances in its technology to tackle global challenges and improve our life on Earth.
The Group's main operations are located in Sweden, the United Kingdom, the Netherlands, South Africa and the USA, with partner networks in Japan and South Korea.
AAC Clyde Space's shares are traded on Nasdaq First North Premier Growth Market (Ticker: AAC). Carnegie Investment Bank AB is the Certified Adviser. The share is also traded on the US OTCQX-market under the symbol ACCMF.
