EIB signs EUR 18 mill. finance contract with Danish space industry company GomSpace

GomSpace was founded in 2007 with headquarters in Aalborg and activities in Sweden, Luxembourg and the US. The company develops and operates nano-satellite platforms and other space-infrastructure. The financing, which is divided into three tranches, will be applied in the development of an enlarged platform. One of the conditions to utilisation of each tranche is that EIB receives warrants in GomSpace's parent company, GomSpace Group AB, which is listed on NASDAQ First North Premier in Stockholm and Plesner has been responsible for coordinating the cross-border legal advice to EIB in that connection.

In addition to GomSpace, Plesner has previously advised other Danish tech companies, including the IT company Templafy, on the negotiation of venture debt from EIB and warrant issuance in connection therewith and Plesner regularly advises both lenders and borrowers with the negotiation of financing solutions from other public sector lenders such as the Danish Growth Fund (Vækstfonden), The European Investment Fund (EIF) and The Nordic Investment Bank (NIB). 

A common feature of such financing solutions to small- and medium-sized growth-businesses is that the financing is offered on financially attractive terms but often with a condition to issue warrants or other equity-like instruments necessitating complex legal advice at the intersection between finance and corporate law.

Read EIB's press release

Read GomSpace's press release