Gapwaves’ largest shareholder transfers subscription rights worth about SEK 15 million to qualified investors who have committed to subscribe for shares in the rights issue.

About this update from Gapwaves Ab Class B

THIS PRESS RELEASE MAY NOT BE MADE PUBLIC, PUBLISHED OR DISTRIBUTED, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEALAND, SINGAPORE, SOUTH AFRICA, SOUTH KOREA, SWITZERLAND, RUSSIA, BELARUS, OR ANY OTHER JURISDICTION IN WHICH SUCH ACTIONS, WHOLLY OR IN PART, WOULD BE UNLAWFUL OR DEMAND ADDITIONAL REGISTRATION OR OTHER MEASURES. PLEASE REFER TO “IMPORTANT INFORMATION” IN THE END OF THIS PRESS RELEASE.The Board of Directors of Gapwaves AB (“Gapwaves” or the “Company”) resolved on 14 October 2025, subject to subsequent approval by an extraordinary general meeting held on 31 October 2025, on a rights issue of new B-shares (the “Rights Issue”). Within the framework of the Rights Issue, the Company’s largest shareholder, Kildal Antenn AB, representing approximately 19 percent of the share capital prior to the Rights Issue, has transferred all of its 5,983,000 subscription rights. The subscription rights have been transferred to qualified investors who have undertaken to subscribe for B-shares in the Rights Issue by exercising the subscription rights. These subscription rights entitle the holders to subscribe for a total of 997,166 new B-shares, corresponding to a total value of SEK 14,957,490 and approximately 19.2 percent of the Rights Issue.The subscription rights have been transferred free of charge to a number of qualified investors, including Molcap Invest AB and an existing shareholder of the Company. All parties have undertaken to fully subscribe for the B-shares to which the subscription rights entitle within the framework of the Rights Issue.Kildal Antenn AB, as the Company’s largest shareholder, has limited ability to participate in the Rights Issue and has therefore elected to have its subscription rights transferred to investors able to ensure that the subscription rights are exercised for subscription of B-shares in the Rights Issue. The undertakings from the qualified investors correspond to a total subscription amount of SEK 14,957,490, representing approximately 19.2 percent of the Rights Issue.The Company welcomes these commitments and views them as strong support for Gapwaves’ continued development and financing plan in connection with the Rights Issue.Summary of the Rights IssueShareholders of Gapwaves on the record date of 5 November 2025 received one (1) subscription right for eac...

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