EQS-News: tubesolar AG: tubesolar AG completes the financing measures agreed in October 2022 for the further development of the company

Augsburg, 02.12.2022 - tubesolar AG (ISIN DE000A2PXQD4), manufacturer of innovative, tubular solar modules, today completed the financing measures for the further development of the company that were agreed in October 2022.

The company successfully placed its capital increase against cash contributions with subscription rights for shareholders. A total of 1,882,252 new shares were issued at a price of EUR 4.25 per share.

The Company received gross proceeds of approximately EUR 8 million from the cash capital increase. The net proceeds from the cash capital increase are to be used for the general financing of the Issuer's current business activities, in particular for investments in the development of the production facilities as well as for research, sales and marketing.

The commissioning of the first highly automated production line (20 MW) will take place in the current year. By the end of 2025, production capacity is to be gradually increased to 250 MW.

Furthermore, the company was also able to successfully implement the agreed capital increase through contributions in kind. A total of 3,217,648 new shares were issued as part of a debt-equity swap. The issue price was also EUR 4.25 per new share.

Through the contribution of loan receivables against the company totalling EUR 13,675,004.00, tubesolar AG's liabilities were substantially reduced without affecting liquidity, the interest burden for the company was significantly reduced and the equity ratio was significantly increased.

The share capital of the Company increased by EUR 5,100,000.00 from EUR 12,900,000.00 to EUR 18,000,000.00 as a result of the cash and non-cash capital increase.

On the other hand, the issuance of the convertible bond 2022/2026, which was also resolved, was waived due to the extremely small placement volume and the administrative expense of a public convertible bond that could not be justified.

About tubesolar AG (www.tubesolar.de)

tubesolar AG has taken over the laboratory production of OSRAM/LEDVANCE in Augsburg as a spin-off and acquired the patents from LEDVANCE and Dr Vesselinka Petrova-Koch. tubesolar AG has been using this patent-protected technology since 2019 to develop and manufacture photovoltaic thin-film tubes that are joined together to form modules and whose properties enable additional application opportunities in solar power generation compared to conventional solar modules. The technology will be used in the agricultural sector, among others, and will span agricultural production areas. The modules are also to be used on industrial and commercial roofs. In the next few years, it is planned to expand production in Augsburg to an annual production capacity of 250 MW.

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Website: www.tubesolar.de

Contact Investor Relations: Maximilian Fischer, mailto: [email protected]

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