Warrant Exercise and New Order Strengthen GomSpace Financial Position
Satellite Platform Kit Contract and Balance Sheet Moves Underscore Investor Confidence in Danish Smallsat Maker
GomSpace Group AB has bolstered its financial position on two fronts: the company’s largest shareholder has converted a major warrant position into equity, and the company has secured a follow-on satellite platform kit order valued at approximately 34 million Swedish kronor (≈$3.5 million).
“Long-term partnerships with our customers validate the value we deliver and the reliability of our subsystems.”
Jane Rygaard, GomSpace
Peter Hargreaves, who holds an indirect majority stake in GomSpace through the discretionary family trust The Hargreaves Family No. 14, exercised all 3,301,566 warrants of series 2023/2039, resulting in the subscription of 4,853,302 new shares. The warrants were connected to an €18 million (≈$20.57 million) shareholder credit facility Hargreaves provided to the company, first disclosed in June 2025. The exercise generated approximately 340,000 Swedish kronor (≈$35,000) in cash proceeds for the company.
“We highly appreciate Peter Hargreaves’ continued confidence in GomSpace and his long-term commitment as a shareholder,” said Carsten Drachmann, CEO of GomSpace. “His exercise of the warrants further strengthens our balance sheet, enhancing our financial position and supporting our engagement with government customers and larger commercial partners, where a strong balance sheet is an important competitive advantage.”
Following recalculation under the terms of the warrants — adjustments stemming from a rights issue conducted in March–April 2023 — each warrant entitled the holder to subscribe for 1.47 new shares at an exercise price equal to the quotient value of approximately 0.07 Swedish kronor per share.
The conversion increases the total number of outstanding shares from 168,669,159 to 173,522,461, with each share carrying one vote. Existing shareholders face a dilution of approximately 2.8 percent based on the total share count following the exercise. The company’s share capital rises by approximately 339,731 Swedish kronor (about $35,000), moving from 11,806,841 Swedish kronor to 12,146,572 Swedish kronor.
On the commercial side, GomSpace announced a follow-up order from an existing, undisclosed customer in the Europe, Middle East and Africa region. The order covers the company’s satellite platform kits — modular, flight-proven systems designed to reduce system integration complexity and shorten time to mission. The total value is approximately 34 million Swedish kronor (≈$3.5 million), to be delivered over several quarters in line with project milestones.
“Long-term partnerships with our customers validate the value we deliver and the reliability of our subsystems,” said Jane Rygaard, VP Products Business Unit at GomSpace. “Our platform kits allow customers to accelerate their development timelines without compromising on flexibility or performance.”
The back-to-back announcements reinforce GomSpace’s stated strategy of deepening ties with both financial backers and repeat commercial customers as it pursues larger government and institutional contracts. The company is listed on the Nasdaq First North Growth Market in Stockholm.