The Board of Directors of Midsummer AB (“Midsummer” or the “Company”) has conditional on the subsequent approval of an extraordinary general meeting, resolved on a fully secured rights issue of shares of approximately SEK 175 million (the "Rights Issue").  Midsummer is in an expansive phase with strong commercial traction and concrete business opportunities that require a strengthened financial position to be fully realised.

Midsummers full press release can be found here.

Background and Rationale
In May 2025, Midsummer received an order worth SEK 143.5 million from Saab for a turnkey production line for 15 MW annual production capacity in Colombia. After Saab entered into an agreement for the sale of JAS Gripen 39 E/F to Colombia on 15 November 2025, Midsummer and Saab initiated concrete discussions on 17 November 2025 regarding an expanded factory establishment and long-term partnership within the framework of Saab's so-called offset commitment to Colombia. Today, 28 November 2025, Midsummer has announced that the production capacity in the operations in Colombia will be expanded from 15 MW to between 100 MW and 200 MW. Thus, the order volume in the order from May 2025 of SEK 143.5 million to Colombia will at least quintuple over the coming years. The size of the production capacity in the range between 100 to 200 MW, delivery times and payment terms are subject to ongoing negotiations.

The collaboration regarding Colombia means that Midsummer will deliver production equipment to, and be responsible for the design and establishment of, the factory. The Company has already established a sales company in Colombia with an initial staff of three people and is already noting significant commercial interest in the region for the Company's products based on factors such as high electricity prices, strong solar radiation and a large number of flat weak roofs for which Midsummer's solutions are ideal.

Midsummer sees very significant potential to provide turnkey production lines and solar cell factories to customers who wish to rapidly implement a green energy transition and electrify their respective markets. The Company's technology is proven and Midsummer can establish complete factories in a short time, provide all equipment, project manage the entire establishment and also assist in subsequent ongoing operations, service and sales of produced panels.

The issue proceeds from the Rights Issue are expected to be used to scale up production and sales, strengthen the Company's position as a leading player in thin film solar cells and to ensure that the Company has the financial capacity required to deliver on the ongoing and upcoming factory projects. A strengthened balance sheet as a result of the debt conversion and optimised capital structure creates conditions for Midsummer to take the next step in its development and implement its growth ambitions.

The Board of Directors believes that the Rights Issue constitutes a good solution to cover the Company's capital needs and enable continued expansion in a market with strong demand for the Company's technology and products.

About Midsummer AB
Midsummer is a Swedish solar energy company that develops and sells flexible low carbon CIGS solar cells and panels. The company also manufactures its own DUO systems, the world’s most widely used production equipment for flexible CIGS solar cells, and sells machines to selected partners and research environments. The proceeds from the rights issue will strengthen the company’s capacity to scale up production and sales as well as deliver on ongoing and upcoming factory projects.

Corpura Fondkommission acted as Joint Bookrunner in connection with the Rights Issue.

For more information contact:
Jonatan Andersson
Phone: +46 (0)70-508 00 51
Email: jonatan.andersson@corpura.se

‍

‍