Sivers Semiconductors

Vickram Vathulya, who took office as CEO of Sivers on 19 August 2024, has expressed interest in increasing his commitment to the Company through a larger investment where the invested amount is added to the Company. The Board has assessed that the Directed Issue to Vickram Vathulya increases his motivation and commitment to the Company, while the issue proceeds will strengthen the Company's working capital.

On 17 September 2024, the Board of Directors resolved, subject to subsequent approval by an Extraordinary General Meeting, to issue 1,524,584 ordinary shares to Vickram Vathulya. However, the Board of Directors’ previous issue resolution did not receive the required majority approval at the Extraordinary General Meeting held on 11 October 2024, as certain shareholders voted against the proposal due to the share price of Sivers Semiconductors having fallen significantly below the subscription price.

The Board of Directors has therefore once again resolved, subject to approval by an Extraordinary General Meeting on 8 November 2024, to carry out the Directed Issue comprising 1,762,336 ordinary shares, corresponding to approximately 7 million SEK. Deviating from shareholders' preferential rights, the new ordinary shares may only be subscribed for by Vickram Vathulya. The subscription price in the Directed Issue is 3.972 SEK per ordinary share. The subscription price has been determined through agreement between the Board of Directors and Vickram Vathulya and corresponds to the closing price of the ordinary share on Nasdaq Stockholm on 11 October 2024. The Board of Directors’ assessment is that the subscription price in the new share issue is carried out on market terms.

Through the Directed Issue, the number of shares in the Company will increase by a maximum of 1,766,336 shares, from 235,884,460 shares to 237,646,796 shares, and the share capital will increase by a maximum of 881,168 SEK, from 117,942,230 SEK to 118,823,398 SEK. The total dilution effect through the Directed Issue amounts to approximately 0.7 percent.

For more information, please refer to the notice of the Extraordinary General Meeting which will be published through a separate press release.

Advisers

Setterwalls Advokatbyrå AB acts as legal adviser to the Company.

For more information, please contact:

Dr. Bami Bastani, Chairman of the Board of Directors
Tel: +1 908 87 28 370
E-mail: bami.bastani@sivers-semiconductors.com

Sivers Semiconductors AB (STO: SIVE) is a leader in SATCOM, 5G, 6G, Photonics, and Silicon Photonics that drives innovation in global communications and sensor technology. Our business units, Photonics and Wireless, supply cutting-edge, integrated chips and modules critical for high-performance gigabit wireless and optical networks. Catering to a broad spectrum of industries from telecommunication to aerospace, we fulfill the increasing demand for computational speed and AI application performance, replacing electric with optical connections for a more sustainable world. Our wireless solutions are forging paths in advanced SATCOM/5G/6G systems, while our photonics expertise is revolutionizing custom semiconductor photonic devices for optical networks and optical sensing, making us a trusted partner to Fortune 100 companies as well as emerging unicorns. With innovation at our core, Sivers Semiconductors is committed to delivering bespoke, high-performance solutions for a better-connected and safer world. Discover our passion for perfection at www.sivers-semiconductors.com.