BeammWave has decided to adopt English as the primary language for public disclosures.

The change takes effect immediately as of today, February 5, 2025. This means that the company will henceforth communicate all public information in English. However, certain information will still be published in Swedish in accordance with applicable regulations.

The decision to switch languages is based on the company’s increasing international presence and the growing interest from global stakeholders, including customers and business partners.

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Mannheim, Germany, January 31, 2025 — EXTOLL, a leading provider of high-speed and ultra-low-power SerDes and Chiplet connectivity, has been selected by BeammWave, an innovation leader in mmWave 5G/6G digital beamforming, as a key SerDes IP supplier for its next gen communication ASIC development portfolio on GlobalFoundries’ (GF) 22nm FD-SOI process technology, 22FDX®.

This collaboration emphasizes EXTOLL´s strength in ultra-low power design, particularly on GF’s 22FDX process geometry enabling future communication innovations. We are happy and honored to jointly work with BeammWave on creating solutions for breakthrough digital beamforming technology,” says Dirk Wieberneit, CEO of EXTOLL.

EXTOLL´s IP is optimized to deliver highest speeds at smallest footprint and lowest power consumption, enabling a super energy-efficient solution for chiplet-based systems and providing a unique solution for the rising demand on multiple lanes connections. The complete SerDes IP core supports line speeds up to 32 Gbps per lane and comes with generic support of various protocols and available on GF’s 22FDX, 12LP and 12LP+ platforms.

GF’s 22FDX process technology offers superior RF/Mixed-Signal performance, power efficiency, SoC integration and radiation-hardened reliability for technologies in the communications infrastructure and SATCOM markets. 22FDX is the only fully depleted SOI solution that combines high-performance RF capabilities with high-speed, high-density digital logic, ensuring efficient and reliable connectivity for various applications like beamforming, which demand both power efficiency and high-speed connectivity.

We are thrilled to partner with EXTOLL on their industry leading Very Short Reach SerDes technology in 22nm,“ said Per-Olof Brandt, Chief Technology Officer at BeammWave. “Extoll is continuing to innovate on this important process node for us, enabling a unique solution for best-in-class power and performance that our customers need. This makes them a perfect fit for BeammWave´s ambitious mmWave products for 5G and 6G.”

As we see an increasing market demand for our 22FDX process technology in various beamforming applications, we are delighted to see our IP partner EXTOLL continuing to innovate on this node, enabling next-generation chiplet solutions based on their ultra-low power interconnect technologies,” said Ziv Hammer, Senior Vice President of Design Platforms and Services at GlobalFoundries. “GF remains fully committed to working with our partners and customers to deliver solutions for essential technologies that support global connectivity.”

Please address your inquiries to sales@extoll.com  and visit our website at www.extoll.com.

About EXTOLL
EXTOLL, a leading supplier of high-speed and ultra-low power SerDes and Chiplet connectivity, designs and develops semiconductor IP with the smallest footprints and highest PPA in the industry, serving the worldwide market of ASIC, SoC- and Chiplet-Makers in various segments. The portfolio provides customers with tailored solutions for their systems covering NoC (Network-on-Chip) and Die-to-Die interfaces.
EXTOLL delivers innovative solutions to enable customers to successfully migrate into the Chiplet Age.
Find out more about our products and solutions – please visit us at www.extoll.com

About BeammWave
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.

About GlobalFoundries
GlobalFoundries (GF) is a leading manufacturer of essential semiconductors the world relies on to live, work and connect. We innovate and partner with customers to deliver more power-efficient, high-performance products for the automotive, smart mobile devices, internet of things, communications infrastructure and other high-growth markets. With our global manufacturing footprint spanning the U.S., Europe, and Asia, GF is a trusted and reliable source for customers around the world. Every day, our talented and diverse team delivers results with an unyielding focus on security, longevity, and sustainability. For more information, visit www.gf.com.


BeammWave AB (“BeammWave” or the “Company”) has, based on authorization from the Annual General Meeting on June 14, 2024, resolved on a directed issue of 714,848 shares (the “Directed Issue”) to investors who had entered into guarantee commitments in connection with the exercise of warrants of series TO 4B (the “Warrants”). The Directed Issue includes 275,602 shares to compensate for Warrants not exercised, as well as 439,246 shares as compensation to guarantors who have chosen to receive their guarantee compensation in the form of newly issued shares in the Company.

The Directed Issue includes 275,602 shares to compensate for Warrants not exercised, as well as 439,246 shares issued as compensation to guarantors who have chosen to receive their guarantee compensation in the form of newly issued shares. Consequently, the total number of shares issued through the Directed Issue amounts to 714,848 shares. The subscription price for the Directed Issue is set at SEK 3.20 per share, in line with the terms of the guarantee agreements. The Board considers this subscription price to be market-based, as it has been negotiated at arm's length with the guarantors. Furthermore, the subscription price corresponds to the exercise price of the Warrants.

The deviation from shareholders’ preferential rights is justified by the fact that the Company shall be able to fulfil its obligations under the guarantee agreements and to issue shares in proportion to the number of Warrants that are not exercised. The Warrants were issued free of charge to the Company’s shareholders as part of a rights issue of units, meaning that shareholders have already had a preferential right to participate in the offer. The Board has made a comprehensive assessment and carefully considered the possibility of raising capital through a rights issue but concluded that it would pose risks to the Company’s ability to meet its working capital requirements while maintaining an optimal capital structure. The Board has considered, ahead of the Directed Issue, that the Company conducted a rights issue in May 2024 which was not fully subscribed, and that the Warrants were also not fully exercised. The Board considered the Directed Issue the most advantageous option for the Company and in the best interests of its shareholders. The Board has concluded that a rights issue, in comparison to the Directed Issue, (i) would take significantly longer to execute, thereby increasing market risk exposure, (ii) would require substantial guarantee commitments from a syndicate of guarantors due to the prevailing market volatility, which would result in additional costs and/or further dilution depending on the type of compensation paid for such commitments, (iii) would likely need to be conducted at a lower subscription price given the discount levels seen in recent rights issues in the market, and (iv) in a rights issue of a similar size, a significant portion of the proceeds would be consumed by transaction costs, thereby reducing the net proceeds available to the Company. Given the above, the Company's Board of Directors has made the assessment that a directed share issue with deviation from the shareholders' preferential rights is the most favourable alternative for the Company and is in the best interest of the Company's shareholders. The Company therefore considers that the above-mentioned reasons outweigh the main rule that new share issues shall be carried out with preferential rights for the existing shareholders.

Increase in the number of shares and share capital
Through the Directed Issue, the Company’s share capital will increase by SEK 70,652.446 to SEK 3,121,441.991, through the issuance of 714,848 new shares, resulting in the total number of shares outstanding increasing from 30,867,308 to 31,582,156.

Advisors
Redeye AB acts as financial advisor, and Advokatfirman Delphi acts as legal advisor to BeammWave in connection with the Directed Issue. Aktieinvest FK AB acts as issuing agent.


BeammWave AB (“BeammWave” or the “Company”) today announces the outcome of the exercise of warrants of series TO 4B (the “Warrants”), which were issued in connection with a rights issue of units which was resolved by the Board of Directors on March 25, 2024, and approved by the Extraordinary General Meeting on April 25, 2024. The Warrants were exercised to approximately 96.9 percent, corresponding to approximately SEK 27.6 million. To secure the proceeds up to 100 percent, the Company intends to resolve on a directed issue of up to 720,007 shares (the “Directed Issue”) to investors who have entered into guarantee commitments related to the redemption of Warrants. Through the exercise of Warrants and the Directed Issue, the Company receives a total of approximately SEK 28.4 million before transaction costs.

Each (1) Warrant entitled the holder to subscribe for one (1) new Class B share in the Company at a subscription price of SEK 3.20 per share. A total of 8,612,500 Warrants were exercised, corresponding to approximately 96.9 percent of all Warrants, resulting in the subscription of 8,612,500 shares. Through these exercised Warrants, the Company will raise approximately SEK 27.6 million before issuance costs. In addition, the Company intends to carry out the Directed Issue, which together with the proceeds from the exercise of Warrants, is expected to provide a total of approximately SEK 28.4 million before transaction costs.

The Directed Issue
To secure the proceeds up to 100 percent, the Company intends to resolve on the Directed Issue around December 19, 2024. The Directed Issue is expected to include the issuance of 275,602 shares to compensate for Warrants not exercised, as well as shares issued as compensation to guarantors who choose to receive their guarantee compensation in the form of newly issued shares. If all guarantors choose to receive their guarantee compensation through newly issued shares, the number of shares issued as guarantee compensation can amount to a maximum of 444,405 shares. Consequently, the total number of shares that can be issued through the Directed Issue could amount to a maximum of 720,007 shares. The subscription price for the Directed Issue is set at SEK 3.20 per share, in line with the terms of the guarantee agreements. The Board considers this subscription price to be market-based, as it has been negotiated at arm's length with the guarantors. Furthermore, the subscription price corresponds to the exercise price of the Warrants.

The deviation from shareholders’ preferential rights is justified by the fact that the Company shall be able to fulfil its obligations under the guarantee agreements and to issue shares in proportion to the number of Warrants that are not exercised. The Warrants were issued free of charge to the Company’s shareholders as part of a rights issue of units, meaning that shareholders have already had a preferential right to participate in the offer. The Board has made a comprehensive assessment and carefully considered the possibility of raising capital through a rights issue but concluded that it would pose risks to the Company’s ability to meet its working capital requirements while maintaining an optimal capital structure. The Board considered the Directed Issue the most advantageous option for the Company and in the best interests of its shareholders. The Board has concluded that a rights issue, in comparison to the Directed Issue, (i) would take significantly longer to execute, thereby increasing market risk exposure, (ii) would require substantial guarantee commitments from a syndicate of guarantors due to the prevailing market volatility, which would result in additional costs and/or further dilution depending on the type of compensation paid for such commitments, (iii) would likely need to be conducted at a lower subscription price given the discount levels seen in recent rights issues in the market, and (iv) in a rights issue of a similar size, a significant portion of the proceeds would be consumed by transaction costs, thereby reducing the net proceeds available to the Company. Given the above, the Company's Board of Directors has made the assessment that a directed share issue with deviation from the shareholders' preferential rights is the most favourable alternative for the Company and is in the best interest of the Company's shareholders. The Company therefore considers that the above-mentioned reasons outweigh the main rule that new share issues shall be carried out with preferential rights for the existing shareholders.

Increase in the number of shares and share capital
Through the exercise of Warrants, the Company’s share capital will increase by SEK 851,221.783 to SEK 3,050,789.545, through the issuance of 8,612,500 new shares, resulting in the total number of shares outstanding increasing from 22,254,808 to 30,867,308.

Through the Directed Issue, the Company's share capital may increase by an additional maximum of 71,162.339 SEK through the issuance of up to 720,007 new shares.

Advisors
Redeye AB acts as financial advisor, and Advokatfirman Delphi acts as legal advisor to BeammWave in connection with the exercise of Warrants. Aktieinvest FK AB acts as issuing agent in connection with the Rights Issue.


BeammWave AB (“BeammWave” or the “Company”) announces that the Company has received declarations of intent and entered into agreements of subscription- and guarantee undertakings (so-called “top-down” or “top guarantee”) in connection with the ongoing redemption of warrants of series TO 4B (“Warrants”), whose exercise period commenced on December 2, 2024, and will run until December 16, 2024. Declarations of intent and subscription undertakings cover a total of approximately 37.1 percent of the outstanding warrants, and the guarantee undertakings amount to approximately SEK 14.2 million, corresponding to 50.0 percent of the maximum proceeds from the exercise of Warrants.

In connection with the ongoing exercise of Warrants, BeammWave has received declarations of intent and entered into agreements of subscription undertakings with some of the Company’s larger existing shareholders, amounting to approximately 37.1 percent of the outstanding warrants, as well as top guarantees from both existing and external investors totalling approximately SEK 14.2 million, corresponding to 50.0 percent of the maximum proceeds from the exercise of Warrants.

The guarantee undertakings constitutes a so-called "top-down guarantee". The guarantee undertakings are thus added to the final subscription level for the Warrants and are intended to ensure the last part of the exercise in the redemption of warrants in the event that all Warrants are not exercised by existing warrant holders. If the board of the Company decides to utilize the guarantee undertaking, this will be done through a directed issue of shares to the guarantors at a subscription price corresponding to the exercise price of the Warrants. For the guarantee undertaking, a compensation of 10 percent will be paid either in cash or through newly issued shares in the Company. No compensation is provided for the subscription undertakings or declarations of intent. The guarantee compensation has been determined through negotiations between the Company and the guarantors at arm's length. The board considers the compensation to be in line with market terms. Neither subscription undertakings nor guarantee undertakings are secured by bank guarantee, blocked funds, pledges or similar arrangements.

Increase in the number of shares and share capital
Upon full utilization of all 8,888,102 Warrants, the Company's share capital will increase by SEK 878,461.078 to SEK 3,078,028.840 through the issuance of 8,888,102 new shares, resulting in the total number of outstanding shares in the Company increasing from 22,254,808 to 31,142,910.

Advisors
Redeye AB acts as financial advisor, and Advokatfirman Delphi AB acts as legal advisor to BeammWave in connection with the exercise of Warrants. Aktieinvest FK AB acts as issuing agent in connection with the Rights Issue.


BeammWave will participate in SEMICON Japan 2024, an international exhibition showcasing cutting-edge semiconductor manufacturing technologies, equipment, and applications. The event will be held at Tokyo Big Sight from December 11 (Wed) to 13 (Fri), 2024.

“SEMICON Japan is an incredible opportunity to showcase BeammWave’s groundbreaking technology to a global audience. As pioneers in digital beamforming solutions for mmWave beamforming, we are redefining performance and cost-efficiency for 5G and 6G applications. We look forward to connecting with industry leaders and exploring collaborations that drive innovation in the semiconductor ecosystem”, says Rob Cadman, VP of Business Development and Sales at BeammWave.

BeammWave will be located in booth #7201, within the European Commission.

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For further information, please contact:
Robert Cadman, VP of Business Development and Sales
+46 (0) 10 641 45 85
rob@beammwave.com


BeammWaves technology can be integrated into smartphones, base stations, Fixed Wireless Access (FWA), satellites, and many other applications. Learn more about this and other exciting developments as CEO Stefan Svedberg shared the company’s progress and vision during BeammWave’s presentation at the Redeye Technology & Life Science Day on December 3.

“Just a few weeks ago, we received our second customer order from a market leader in the mmWave industry. Today, we announced that BeammWave and Alpha Networks have entered into an agreement to conduct a joint pre-study for the next generation Fixed Wireless Access products”, says Stefan Svedberg, CEO at BeammWave.

Watch and listen to the full presentation about BeammWave and the future of digital beamforming here:
BeammWave – Redeye Technology & Life Science Day.

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The objective is to study the creation of high-performance Customer Premises Equipment (CPE) intended for Fixed Wireless Access (FWA) also in complicated radio environments and extreme weather conditions.

The intention is to leverage BeammWave’s digital beamforming and system expertise together with Alpha Networks product and application knowledge to create a cost efficient and ultra-high performing solution. The solution is expected to make use of the full benefits from digital beamforming including Non-Line of Sight (NLoS) capabilities.

The Fixed Wireless Access connections are expected to grow to 330 million by the end of 2029, a vast majority of these connections will be on 5G allowing for an attractive ISP business case, high data rates and robust connections.

"Fixed Wireless Access has achieved enormous success in North America and is now rolling out in Asia, bringing new requirements on cost efficiency and robustness that BeammWave’s digital beamforming solution inherently meets. Our collaboration with Alpha Networks will enable this solution to scale rapidly," says Stefan Svedberg, CEO of BeammWave.

"Alpha Networks is dedicated to addressing mmWave challenges alongside our partners and network operators. BeammWave’s advanced technology offers promising solutions to overcome the constraints of analog beamforming. Through this collaboration, we plan to deliver next-generation solutions to our clients. Adopting digital innovations is key to driving progress in the industry," says Wen Tsay, CTO at Alpha Networks.

About Alpha Networks
Alpha Networks Inc., founded in September 2003 and headquartered in Hsinchu Science Park, Taiwan, is a global leader in the networking industry with nearly 30 years of experience in designing, manufacturing, and servicing networking products. Listed on the Taiwan Stock Exchange since 2004, Alpha Networks has consistently grown by offering a broad range of off-the-shelf and custom solutions. The company integrates both mature and cutting-edge technologies, building a strong reputation through strategic partnerships with leading global brands. With paid-in capital of NT$5,417 million and over 4,000 employees, the company operates manufacturing facilities in Taiwan, China, and Vietnam, and sales offices in Taiwan, the USA, Japan, and China. The company’s Design, Manufacturing, and Service (DMS) business model has solidified its leadership in the industry.

About BeammWave
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 share serie B (BEAMMW B) is listed on the Nasdaq First North Growth Market in Stockholm. Certified Adviser is Redeye AB.


BeammWave AB (“BeammWave” or the “Company”) issued a total of 8,888,102 warrants of series TO 4B (“Warrants”) within the framework of a rights issue of units during the second quarter of 2024. The exercise period for the Warrants commences today, on December 2, 2024, and continues until December 16, 2024. One (1) Warrant entitles the holder to subscribe for one (1) new share in the Company. The subscription price per share subscribed for through the exercise of Warrants has been set at SEK 3.20. Upon full utilization of all Warrants, BeammWave will receive approximately SEK 28.4 million before issuance costs. The proceeds from the exercise of Warrants are intended to be used to prepare for the Company's planned market launch and to finance an accelerated pace of product development, in collaboration with potential partners.

Warrant exercise in brief

  • The exercise period for the Warrants runs from December 2, 2024, to December 16, 2024.
  • One (1) Warrant entitles the holder to subscribe for one (1) new share in the Company at a subscription price of SEK 3.20 per share.
  • Trading of Warrants on Nasdaq First North Growth Market takes place until December 12, 2024.
  • Warrants that are not exercised for subscription of new shares by December 16, 2024, expire without value.
  • Holders of Warrants who have their holdings nominee-registered (holdings in securities custody services, investment savings accounts (ISK) or endowment insurances) must notify the exercise of Warrants by contacting their respective nominee and follow the nominee's instructions regarding subscription and payment. This should take place well before December 16, 2024, as different nominees have different processing times.
  • Holders of Warrants who have their holdings directly registered (holdings on a VP account) must notify the exercise of Warrants by filling in and submitting an application form for the exercise, so that the application form is received by the issuing agent, Aktieinvest FK AB, no later than December 16, 2024. The application form is available on the Company's, Aktieinvest FK AB's, and Redeye AB's respective websites (www.beammwave.com, www.aktieinvest.se, www.redeye.se).
  • Upon full utilization of all Warrants, BeammWave will receive approximately SEK 28.4 million before issuance costs.
  • The subscription price of SEK 3.20 per new share has been determined in accordance with the terms of the Warrants, under which the subscription price per new share shall equal seventy (70) percent of the volume-weighted average price (VWAP) of the Company's share on Nasdaq First North Growth Market during the period November 18, 2024, up to and including November 29, 2024, however, not less than SEK 3.0 and not more than SEK 6.0 per share. Complete terms and conditions for the Warrants are available on the Company's website, www.beammwave.com.

Increase in the number of shares and share capital

Upon full utilization of all 8,888,102 Warrants, the Company's share capital will increase by SEK 878,461.078 to SEK 3,078,028.840 through the issuance of 8,888,102 new shares, resulting in the total number of outstanding shares in the Company increasing from 22,254,808 to 31,142,910.

Advisors
Redeye AB acts as financial advisor, and Advokatfirman Delphi AB acts as legal advisor to BeammWave in connection with the exercise of TO 4B. Aktieinvest FK AB acts as issuing agent in connection with the Rights Issue.


CEO Stefan Svedberg will highlight the importance of a new customer, a global market leader in mmWave technology. He will also discuss the progress following BeammWave’s achievement as the world’s first company to demonstrate distributed digital beamforming. What’s next for BeammWave on our journey forward?

Stefan Svedberg, CEO of BeammWave, will present the company at the Redeye Technology & Life Science Day, taking place on Tuesday, December 3.

When: December 3, 9:00 AM – 4:00 PM
Where: Link to the event
BeammWave Presentation: 11:20 AM, Stream 3

The event is open to everyone, but registration on redeye.se is required.

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Two additional fundamental patents have now been granted in Europe, each marking the first grant within its respective patent family.

These patents provide protection for “frequency generation of a multi-antenna transceiver system” and “mmWave multiband transceiver unit and transceiver arrangement for carrier aggregation support”.

"These patents cover fundamental parts of BeammWave’s digital beamforming architecture and further strengthen our already strong patent portfolio”, says Bengt Lindoff, Chief Systems Architect at BeammWave.


CEO Stefan Svedberg will expand on the significance of securing a new customer that is a global market leader in the mmWave industry. He will also discuss the developments following BeammWave’s achievement as the first in the world to demonstrate distributed digital beamforming. What lie ahead for BeammWave, and what’s next in our journey?

This is a significant step for BeammWave adding an Asian customer that is a global electronics leader with a broad portfolio of electronic components and solutions serving the global electronics industry and a wide variety of applications. The company has a turnover exceeding USD 10 billion and more than 70,000 employees.

“I’m excited to present live in Stockholm and share how this new customer, a market leader in the mmWave market, represents a transformative step for us, while also complementing our ongoing partnership with our first customer, Molex. I’ll highlight how the new project with Saab both strengthen and expands our business opportunities”, says Stefan Svedberg, CEO of BeammWave.

  • Date & Time: November 26, 2024, at 19.00
  • Location: Stora Aktiedagarna, Stockholm, get details and sign up for the event here.

If unable to attend in person, the presentation will be streamed online at the following link:
BeammWave Stock Days Stockholm
A recorded version will also be available afterward on the company’s website at www.beammwave.com.

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