NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR
INTO
THE UNITED STATES, CANADA, AUSTRALIA, HONGKONG, JAPAN, NEW ZEALAND,
SINGAPORE,
SOUTH AFRICA, SWITZERLAND OR ANY OTHER STATE OR JURISDICTION IN
WHICH SUCH
MEASURE WOULD BE UNLAWFUL OR REQUIRE ANY OTHER ACTIONS TO BE TAKEN
IN ADDITION
TO THOSE REQUIRED BY SWEDISH LAW.

A review of the strategy and
business plan, initiated by the Board of Directors,
has resulted in an upward
revision of the long term ambitions for 2023. With the
updated business plan
and current outlook the review also concluded that with a
SEK 300 million
rights issue before issue costs, the company is expected to be
fully financed
until the company is expected to be cash flow positive. The Board
of Directors
of GomSpace Group AB (publ) (“GomSpace”) therefore seeks
authorisation to
resolve on a rights issue of indicatively SEK 300 million by an
extraordinary
general meeting on October 16, 2018. The SEK 300 million rights
issue will
replace the SEK 300 million optional agreement with the European
Select Growth
Opportunities Fund that has not been utilised. The intended rights
issue is
supported by Hansen & Langeland ApS, NOVI Innovation A/S, Longbus
Holding ApS
(the CEO) and the Chairman of the Board who all have agreed to vote
in favour
of the authorisation.
The strong growth since the IPO in June 2016, with
     a
CAGR[1] (http://file:///H:/Dokumenter/Pressemeddelelser/GomSpace%20Group/PR%20
          rig
hts%20issue/Press%20release%20-%20Announcement%20of%20rights%20issue%20
-%20
     2018.08.28%20ENG.docx#_ftn1)
of 79 percent (91 percent without elimination),
has accelerated investments in
production capacity, project management and
product development. The
opportunities for migrating space technology from high
cost solutions to low
cost solutions keep unfolding and GomSpace is currently
finalizing the
development of a significant number of new products and has
prepared for
scaling up and industrializing the production. Significant scale
benefits are
expected to be achieved in the transition phase, moving from single
satellite
production, to industrialized assembly of larger quantities.

A strategy and
business plan review, initiated by the Board of Directors, has
been conducted
in order to fully grasp the underlying market potential and newly
identified
application areas and solutions for GomSpace’s products. The review
resulted in
an upward revision of the long term ambitions for 2023 and a defined
capital
need until the company is expected to be cash flow positive. In
parallel,
different financing solutions have been evaluated. Following the
review a
rights issue is now deemed by the Board of Directors as the most
favourable
solution for the shareholders and with the updated business plan and
current
outlook, the company is expected to be fully financed with a SEK 300
million
rights issue before issue costs until the company is expected to be cash
flow
positive. On that basis the Board of Directors proposes that the
extraordinary
general meeting resolves on an authorisation for the Board of
Directors to
resolve upon issuance of new shares. Following a successful rights
issue
GomeSpace intends to terminate the SEK 300 million optional agreement with
the
European Select Growth Opportunities Fund entered into in July
2018.

GomeSpace’s shareholders Hansen & Langeland ApS, NOVI Innovation A/S,
Longbus
Holding ApS (the CEO) and the Chairman of the Board, representing
approximately
23 per cent of the shares in the company, have expressed their
support for the
intended rights issue and have agreed to vote in favour for the
authorisation of
the Board of Directors at the extraordinary general
meeting.

Invitation to the extraordinary general meeting on October 16, 2018
will be
announced through a separate press release.

For more information,
please contact:
Niels Buus (CEO)
Tel: +45 40 31 55 57
Email:
nbu@gomspace.com

About GomSpace Group AB
The company’s business operations are
mainly conducted through the wholly-owned
Danish subsidiary, GomSpace A/S, with
operational office in Aalborg, Denmark.
GomSpace is a space company with a
mission to be engaged in the global market
for space systems and services by
introducing new products, i.e. components,
platforms and systems based on
innovation within professional nanosatellites.
The company is listed on the
Nasdaq First North Premier exchange under the
ticker GOMX. FNCA Sweden AB is
the company’s Certified Adviser. For more
information, please visit our website
on www.gomspace.com.

This information is information that GomSpace is obliged
to make public pursuant
to the EU Market Abuse Regulation. The information was
submitted for
publication, through the agency of the contact person set out
above, 9:02 a.m
CET on September 28, 2018.

IMPORTANT INFORMATION

This press
release is not an offer or solicitation to acquire shares in
GomSpace. This
press release does not constitute or form part of an offer or
solicitation to
purchase or subscribe for securities in the United States. The
information in
this press release may not be announced, published or
distributed, directly or
indirectly, to the United States, Canada, Australia,
Hong Kong, Japan, New
Zealand, Singapore, South Africa, Switzerland, or in any
other jurisdiction
where the announcement, publication or distribution of the
information would
not comply with applicable laws and
     regulations.

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[1] (http://file:///H:/Dokumenter/Pressemeddelelser/GomSpace%20Group/PR%20
          rights%
20issue/Press%20release%20-%20Announcement%20of%20rights%20issue%20
-%20
     2018.08.28%20ENG.docx#_ftnref1)
Compound annual growth rate