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Today, May 25, 2026, is the first day of the subscription period in BeammWave AB’s (publ) ("BeammWave" or the "Company") new issue of Class B shares with preferential rights for existing shareholders of a maximum of approximately SEK 51.7 million (the "Rights Issue"), which was announced on May 12, 2026. The subscription period in the Rights Issue runs until June 9, 2026. Please note, however, that some banks and asset managers may have an earlier response date for subscription in the Rights Issue. Shareholders should therefore check with their bank or nominee whether they have an earlier response date.
The Rights Issue in brief
- The Rights Issue comprises a maximum of 4,498,886 Class B shares.
- At full subscription, BeammWave will receive approximately SEK 51.7 million before deduction of issue costs.
- The subscription price is SEK 11.50 per Class B share.
- The rights issue is covered to 43.2 percent by subscription commitments.
- Those who were registered in the share register maintained by Euroclear Sweden AB as a shareholder in BeammWave on the record date May 20, 2026 received one (1) subscription rights for each (1) share held.
- Ten (10) subscription rights entitle the holder to subscribe for one (1) new Class B share in the Company.
- Shareholders who choose not to participate in the Rights Issue will have their ownership diluted by up to approximately 9.7 percent but have the opportunity to compensate for the dilution effect by selling their subscription rights.
- Complete terms and conditions for the Rights Issue as well as other information about the Company can be found in the Appendix IX-information document published by the Company on May 21, 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 and resolve on an additional issue of Class B shares with maximum issue proceeds of approximately SEK 25 million.
Background and motive for the Rights Issue
BeammWave was founded in 2017 based on long-term research on mmWave (very high frequencies between 24-100 GHz, which can be compared to all previously used for mobile telephony being lower than 6 GHz) and mobile telephony at Lund University. Today, the Company consists of approximately thirty employees and consultants. Since 2019, the Company has built a comprehensive technical platform consisting of a radio chip and a digital chip that includes the beamforming algorithms. This solution is fully scalable and can be used for all targeted applications, including mobile phones, base stations and Fixed Wireless Access (FWA).
In 2026, BeammWave has taken further steps from being a pure development company to establishing itself as a commercial supplier. The technology is currently being evaluated together with international players in telecom, and the Company is driving 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 areas of use such as the defense industry, satellite communication and fixed wireless access (FWA). The dialogues with existing and potential partners are developing positively, which confirms 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 capitalize on the momentum. The Company also sees great value in connecting with international networks to support the expansion journey. These initiatives are expected to accelerate opportunities for new strategic collaborations and geographic expansion, strengthening the Company's market position and long-term growth.
The Company has a flexible business model where it primarily intends to use a model that in the semiconductor industry is referred to as fabless, which means that the Company manufactures, markets and sells the chips it has developed in the form of physical goods. This will be done with the help of a third-party producer (fab or foundry), which means that the production will take place in a "fab" that the Company does not own, hence the name fabless. In addition, BeammWave needs to make further investments in sales. The Company has a sales presence in South Korea, Japan and Taiwan, but needs to create a presence in other major markets such as the US, for the customer list to continue to grow. The Company also has a significant and growing patent portfolio, which is not only a protection for the Company's products, but also a future source of income.
Preliminary timetable for the Rights Issue
The timetable below for the Rights Issue is preliminary and subject to change.
| Trading in subscription rights | May 25-June 4, 2026 |
| Subscription period | May 25-June 9, 2026 |
| Trading in the BTA (paid subscribed B shares) | May 25 – week 26, 2026 |
| Announcement of the outcome of the Rights Issue | June 10, 2026 |
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 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.
