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New listing of SCANWAY S.A. on NewConnect

SCANWAY  S.A. was newly listed on NewConnect on 11 October 2023.

SCANWAY S.A. is the 368^th company listed on NewConnect and the tenth new listing on NewConnect in 2023. 

Key information

* at the reference price proposed by the Authorised Advisor and the Market Maker for the series A, B and C shares equal to PLN 45.00

Issuer’s history and business

The company agreement of Scanway S.A. (“Company”, “Issuer”) was signed in 2015, and the Company was registered in the National Court Register on 16 January 2016.

The first client of the Issuer was the Wrocław University of Technology, project: measurement chamber of the DREAM mission (DRilling Experiment for Asteroid Mining) - R&D, drilling and study of the behaviour of excavated material in a weightless state.

In 2017, the Company attracted a new investor: PGE Ventures Capital (increase of the Company’s capital through the issue of 20 shares). Also in 2017, the Company carried out around 10 industrial consultancy projects where Scanway provided small-scale customised vision systems. The DREAM experiment was successfully launched. Data retrieved in the mission was later used by ESA, DLR, as well as in the Hayabusa 2 mission and the MASKOT lander, among others.

In 2018, the Issuer attracted a new investor, the Lower Silesian Development Fund (two capital increases through the issue of 13 and 8 shares, respectively ).

Between 2018 and 2020, the Issuer completed a number of commercial projects for, among others, the renewable energy, furniture, printing, food, and healthcare industries (projects including body temperature-based entry systems (Covid) and mask quality analysis (Covid)).

In 2022, the Issuer was transformed into a joint-stock company (1,010,000 shares). Also in 2022, Scanway S.A. sold the SOP telescope, which will take part in one of the German Space Agency (DLR) missions, and carried out projects for the multinational 3M, among others.

In 2023, the Issuer carried out two share issues, which raised a total of PLN 11.4 million.

The Issuer’s completed projects:

1. ScanSAT - prototype of a nanosatellite for Earth observation. With the support of the National Research and Development Centre, Scanway carried out work on the Polish ScanSAT Earth observation satellite. The Company was working on the most accurate optical instrument for Earth observation in Poland’s history. It will be mounted on a small satellite (30 x 20 x 10 cm) and CubeSAT 6U; from an orbit of 500 km altitude, it will be able to observe not only the area of Poland but also the whole world. Thanks to their unique properties, this type of telescope can be used, among other things, to detect greenhouse gas levels in the atmosphere. The ScanSAT project allowed the Company to develop its SOP (Scanway’s Optical Payload) product line.
2. DREAM - DRilling Experiment for Asteroid Mining. DREAM is Scanway’s first project carried out by Wrocław University of Technology as part of the REXUS/BEXUS (Rocket/Balloon EXperiments for University Students) programme organised by the European Space Agency in cooperation with the Swedish National Space Board (SNSB) and the German Space Agency.
3. TRACZ - Testing Robotic Application for Catching in Zero-G. The TRACZ experiment at Esrange Space Centre (Sweden) is the second project carried out by Wrocław University of Technology as part of the REXUS/BEXUS (Rocket/Balloon EXperiments for University Students) programme organised by the European Space Agency in cooperation with the Swedish National Space Board (SNSB) and the German Space Agency.

Scanway is an observational technology and quality control company. Scanway is Poland’s first commercial provider of spectral instruments for space. The Company’s implementations allow for the observation of any object or area in a precise and continuous manner. The Company has developed two business segments, i.e., products for the space industry (optical instruments for Earth observation and self-diagnostics of satellites) and for the manufacturing industry (vision systems).

Selected financial data of the Issuer’s Group (PLN):

80,000 series B shares – public offering

The public offering of Series B Shares started on 25.01.2023 and ended on 15.02.2023.

Series B shares were taken up by 34 entities.

The issue price of the shares was PLN 30.00.

Value of the offering: PLN 2,400,000

200,000 series C shares – public offering

The public offering of Series C Shares started on 21.06.2023 and ended on 29.06.2023.

Series C Shares were taken up by 62 entities.

The issue price of the shares was PLN 45.00.

Value of the offering: PLN 9,000,000

Shareholders

Source: Issuer

Financial instruments newly listed on NewConnect: 1,290,000 shares including  1,010,000 series A ordinary bearer shares, 80,000 series B ordinary bearer shares, 200,000 series C ordinary bearer shares.