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Bulletin from the Extraordinary General Meeting in Acconeer AB

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Acconeer AB (the "Company") has today, 1 March 2024, held an Extraordinary General Meeting (the "EGM"). The EGM resolved approve the Board of Directors' proposal to amend the Articles of Association and to resolve on an issue authorization for the Board of Directors. Notice of the Extraordinary General Meeting and complete proposals are available on the Company's website, www.acconeer.com.

Amendment of the Articles of Association

The EGM resolved in accordance with the Board of Directors' two proposals to amend §§ 4-5 of the Articles of Association, entailing:

  • that the Articles of Association shall be amended so that the share capital shall be not less than SEK 1,250,000 and not more than SEK 5,000,000 and that the number of shares shall be not less than 25,000,000 and not more than 100,000,000, and
  • that the Articles of Association shall be amended so that the share capital shall be not less than SEK 5,000,000 and not more than SEK 20,000,000 and that the number of shares shall be not less than 100,000,000 and not more than 400,000,000.

The EGM further resolved to authorize the Board of Directors to register with the Swedish Companies Registration Office the above resolution to amend the Articles of Association, the limits of which for the minimum and maximum number of shares in the Company are consistent with the total number of shares in the Company after the Board of Directors has resolved on a new issue of shares based on the issue authorization as set out below.

Issue authorization

The EGM resolved, in accordance with the Board of Directors' proposal, to authorize the Board of Directors to, on one or more occasions during the period until the next Annual General Meeting, resolve to issue new shares, warrants and/or convertibles, with preferential rights for the Company's shareholders. The Company's share capital and the number of shares may, by virtue of the authorization, be increased with an amount and number that falls within the limits of the, at any time registered, or by the EGM adopted, Articles of Association. In accordance with what has been previously communicated, the Board of Directors intends to resolve on a rights issue of shares of approximately SEK 150 million based on the issue authorization around 5 March 2024.

Acconeer has delivered more than two million radar sensors

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As of today, Acconeer has shipped more than two million of its A1Pulsed Coherent Radar sensors, accumulated since the company started selling Evaluation Kits (EVKs) in February 2018.

Lars Lindell, CEO Acconeer, comments: "Today we are happy to have passed the milestone of two million sensors shipped since we started selling it online. Since the start, we have seen a steady increase of the pace at which we pass these milestones, and now we are looking to increase the rate we sell at even further to reach new important sales achievements."

From sales start to one million sensors sold took us more than four years, and now in only 18 more months we have sold our second million. We expect the pace to pick up even more and believe we will reach three million in a much shorter time. Since 2021, Acconeer reports accumulated sales in financial reports, by the end of 2023 the company had sold in total just over 1,9 million radar sensors.

Acconeer receives largest order yet from NEXTY Electronics worth 1,8 million USD

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The order relates to Acconeer's pulsed coherent radar sensor A1 for mass production and is the largest order Acconeer has received so far. The sensors ordered will be delivered to NEXTY Electronics (“NEXTY”) during 2024. A pre-payment of the full value will be made no later than April 2024. NEXTY is a leading Japanese distributor with a particularly strong position in the automotive industry.

CEO Lars Lindell comments: “To receive our by far largest order yet and pre-payment covering NEXTY’s needs for the full year 2024 confirms what we previously have stated that the automotive ramp-up starts this year, which is of course something we are very excited about.”

In addition to publicly announced orders, Acconeer continuously receives orders of smaller amounts which are not publicly announced as they are not considered to affect the share price.

In January 2024 Acconeer announced the intention to carry out a fully guaranteed rights issue and stated that the company is expected to be able to finance its business plan with existing cash until the middle of May 2024. With this payment from NEXTY, this period is extended, and the company now expects to have sufficient cash to operate until the middle of August 2024.

Year-end report January 1 – December 31 2023

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In the fourth quarter 2023, Acconeer's net sales amounted to 10,612 kSEK, and the product revenue increased by 48% compared to the third quarter. The company sold approximately 153,000 sensors and 10,000 modules. In the quarter 308 evaluation kits were sold, and an accumulated 7,341 EVKs have been sold since launch. The gross margin on sales of goods in Q4 was 60% and 11 new customer products were launched. After the quarter, it was announced that the company intends to carry out a fully guaranteed rights issue of SEK 150 million.

CEO Lars Lindell comments: “Highlights of the fourth quarter were major advances in the automotive industry, with several important design wins with major companies. In addition, we received the first prototypes of our next generation radar sensor, and we are pleased to say that these are performing above expectations, giving us confidence as we continue to develop and commercialize the A2.”

FOURTH QUARTER

  • Net sales for the fourth quarter amounted to kSEK 10,612 (13,859) TSEK.
  • The gross margin on sales of goods was 60 (56) %.
  • Result after taxes amounted to kSEK-11,289 (-10,428).
  • Earnings per share before and after dilution was SEK -0.42 (-0.40).
  • The cash flow from operating activities was kSEK -9,846 (-6,973).

FULL YEAR

  • Net sales for the full year amounted to kSEK 35,522 (46,825).
  • The gross margin on sales of goods was 62 (59)%.
  • Result after taxes amounted to kSEK -46,504 (-47,154).
  • Earnings per share before and after dilution was SEK -1.76 (-1.81).
  • The cash flow from operating activities was kSEK -37,276 (-36,220).
  • Cash and cash equivalents on the balance sheet date amounted to kSEK 38,653 (89,883).

SIGNIFICANT EVENTS DURING THE FOURTH QUARTER

  • Acconeer received order from NEXTY worth USD 150,000.
  • Large Japanese electronics company launched module based on Acconeer’s A1 radar sensor.
  • Acconeer announced five new automotive design wins to an estimated value of USD four million.
  • Acconeer received order from NEXTY worth USD 190k.

SIGNIFICANT EVENTS AFTER THE END OF THE PERIOD

  • Acconeer announced automotive design win to an estimated value of USD 5 million.
  • It was announced that Acconeer intends to carry out a fully guaranteed rights issue of approximately SEK 150 million, financial targets and preliminary financial information for FY 2023 was announced.

The year-end report is attached to this press release and available through Acconeer's website: https://www.acconeer.com/investor_page/home/financial-reports/.

NOTICE TO EXTRAORDINARY GENERAL MEETING IN ACCONEER AB (PUBL)

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The shareholders of Acconeer AB (publ), org. no. 556872–7654 (the "Company"), are hereby invited to the extraordinary general meeting to be held on 1 March 2024 at 09:00 CET at the Company's office at Västra Varvsgatan 19, in Malmö. Registration for the meeting commences at 08:30 CET.

Right to participate and registration
A shareholder who wishes to participate in the extraordinary general meeting must:

(i) be entered in the register of shareholders maintained by Euroclear Sweden AB on 22 February 2024; and
(ii) notify the Company of its attendance no later than 26 February 2024 to Acconeer AB (publ), "EGM", Västra Varvsgatan 19, 211 77 Malmö, Sweden, or via e-mail to info@acconeer.com. The notification shall state full name, personal registration number or company registration number, address and telephone number, number of shares held and proxies if applicable.

Nominee registered shares
Shareholders whose shares are held in the name of a nominee must, in order to be able to participate at the extraordinary general meeting and exercise their voting right, temporarily re-register the shares in their own name in the share register maintained by Euroclear Sweden AB (so-called voting right registration). When preparing the share register for the extraordinary general meeting per the record date, 22 February 2024, voting right registrations completed by the nominee no later than 26 February 2024 will be considered. This means that shareholders must request the nominee to complete such voting right registration well in advance of 26 February 2024.

Proxies
Shareholders represented by proxy shall issue a written and dated power of attorney. If the proxy is issued by a legal person, a certified copy of the registration certificate or similar papers of authorisation must be appended. The proxy, in its original form, as well as any registration certificates, should be submitted well in advance of the meeting to Acconeer AB (publ), "EGM", Västra Varvsgatan 19, 211 77 Malmö, Sweden. The power of attorney must not be older than one year unless a longer validity term is specifically stated in the power of attorney (however no longer than five years). Proxy forms are available on the Company's website, www.acconeer.com.

Proposed agenda

  1. Opening of the meeting
  2. Election of chairman of the meeting
  3. Preparation and approval of the voting list
  4. Election of one or two persons who shall approve the minutes of the meeting
  5. Determination of whether the meeting has been duly convened
  6. Approval of the agenda
  7. Resolution to amend the articles of association
  8. Resolution regarding issue authorisation
  9. Closing of the meeting

RESOLUTION PROPOSALS

Item 7 – Resolution to amend the articles of association
The board of directors proposes that the extraordinary general meeting resolves to amend the articles of association in accordance with items 7(a) and 7(b) below.

Resolutions according to items 7(a)-7(b) below are conditional upon that, and shall be submitted for registration with the Swedish Companies Registration Office after, the Company has resolved on a new issue of shares on the basis of and subject to the extraordinary general meeting's approval of the proposal regarding issue authorisation in accordance with item 8 below. Further, the board of directors proposes that the board of directors is authorised to submit for registration with the Swedish Companies Registration Office, the articles of association in accordance with item 7(a) or item 7(b) which limits for the minimum and maximum number of shares and share capital in the Company are compatible with the total number of shares and share capital in the Company after the board of directors has resolved on such a new issue. In the event that the total number of shares and share capital in the Company after the board of directors has resolved on such new issue is compatible with the amendments to the articles of association under both item 7(a) and item 7(b) below, the articles of associations that sets out the lowest number of shares and share capital in the Company shall be submitted for registration.

Item 7(a)
The board of directors proposes that the extraordinary general meeting resolves on the following amendments to Sections 4-5 of the articles of association.

Current wording Section 4:
The share capital shall not be less than SEK 500,000 and not more than SEK 2,000,000.

Proposed wording Section 4:
The share capital shall not be less than SEK 1,250,000 and not more than SEK 5,000,000.

Current wording Section 5:
The number of shares shall not be less than 10,000,000 and not more than 40,000,000.

Proposed wording Section 5:
The number of shares shall not be less than 25,000,000 and not more than 100,000,000.

Item 7(b)
The board of directors proposes that the extraordinary general meeting resolves on the following amendments to Sections 4-5 of the articles of association.

Current wording Section 4:
The share capital shall not be less than SEK 500,000 and not more than SEK 2,000,000.

Proposed wording Section 4:
The share capital shall not be less than SEK 5,000,000 and not more than SEK 20,000,000.

Current wording Section 5:
The number of shares shall not be less than 10,000,000 and not more than 40,000,000.

Proposed wording Section 5:
The number of shares shall not be less than 100,000,000 and not more than 400,000,000.

A resolution in accordance with items 7(a)-(b) above shall only be valid where supported by not less than two-thirds of both votes cast and the shares represented at the extraordinary general meeting.

Item 8 – Resolution regarding issue authorisation
The board of directors proposes that the extraordinary general meeting authorises the board of directors to, on one or more occasions, during the period until the next annual general meeting, resolve on issues of new shares, warrants and/or convertibles, with preferential rights for the Company's existing shareholders. The Company's share capital and number of shares may, by virtue of the authorisation, be increased with an amount and number that falls within the limits of the, at any time registered, or by the extraordinary general meeting adopted, articles of association.

New issues may be made against cash payment, in kind and/or through set-off, or otherwise be subject to conditions. The board of directors shall be entitled to determine the other terms and conditions for issues under this authorisation and who shall be entitled to subscribe for issued securities.

The board of directors also proposes that the board of directors, or the person appointed by the board of directors, shall be entitled to make the minor changes to the resolution of the extraordinary general meeting that may be required in connection with registration with the Swedish Companies Registration Office or for other administrative reasons.

Documentation
The board of directors' complete proposals (complete in this notice) and associated documents will be available at the Company’s office and on the Company’s website, www.acconeer.com, no later than two weeks prior to the extraordinary general meeting and will be sent to shareholders who so request and provide their postal address.

Shareholders’ right to request information
Shareholders are reminded of their right to request information from the board of directors and CEO in accordance with Chapter 7 Section 32 of the Swedish Companies Act.

Use of personal data
For information regarding the processing of your personal data, please see the integrity policy that is available at Euroclear Sweden AB’s website: www.euroclear.com/dam/ESw/Legal/Privacy-notice-bolagsstammor-engelska.pdf.

Acconeer AB (publ) has org. no. 556872–7654 and its registered office in Malmö.

N.B. This notice has been prepared in both Swedish and English language versions. In the event of any deviations between the versions, the Swedish version shall prevail.

_________________

Malmö in January 2024
Acconeer AB (publ)
The board of directors

For further information, contact:
Lars Lindell, CEO Acconeer, Phone: +46 10218 92 00, E-mail: ir@acconeer.com

The information was submitted, through the agency of the contact person above, for publication at 20:30 CET on 29 January 2024.

About Acconeer AB (publ)
With ground-breaking technology, Acconeer has developed a radar sensor that opens a new world of interaction. Acconeer Micro Radar Sensor, with low power consumption, high precision, small size and high robustness, is a 60GHz robust and cost-effective sensor for detection, distance measurement, motion detection and camera-supported applications with low power consumption. Acconeer combines the advantage of low power consumption with highly accurate pulsed radar systems of coherent radar, all integrated into a component with a surface area of only 28 mm2. The radar sensor can be included in a range of mobile consumer products, from smartphones to wearables, but also in areas such as robots, drones, the Internet of Things, healthcare, automotive, industrial robots and security and monitoring systems. Acconeer is a semiconductor company and, as a business model, sells hardware to manufacturers of consumer electronics products. Acconeer is listed on Nasdaq First North Growth Market with the ticker code ACCON, Redeye is the company's Certified Advisor (CA). For more information: www.acconeer.com.

Acconeer intends to carry out a fully guaranteed rights issue of approximately SEK 150 million, announces financial targets and preliminary financial information for FY 2023

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The Board of Directors of Acconeer AB (“Acconeer” or the “Company”) hereby announces its intention to carry out a fully guaranteed rights issue of shares equivalent to approximately SEK 150 million before deductions for transaction costs (the “Rights Issue”). An Extraordinary General Meeting (the “EGM”) is planned to be held on 1 March 2024 to change the limits of the number of shares and share capital in the Articles of Association and to grant the Board of Directors an authorization to resolve on the Rights Issue. The Rights Issue, including full terms, is expected to be resolved by the Board of Directors around 5 March 2024. The Company has secured subscription undertakings, corresponding to their respective pro rata shares, from existing shareholders Alps Alpine Co., Ltd., the Ingvarsson Family (through Sifonen AB and privately), Chairman of the Board Thomas Rex, and CEO Lars Lindell, of, in aggregate, approximately SEK 20 million, corresponding to approximately 13 per cent of the Rights Issue. In addition, external guarantors have provided guarantee commitments, subject to customary conditions, which, in aggregate, amount to approximately SEK 130 million, corresponding to approximately 87 per cent of the Rights Issue. Hence, the Rights Issue is fully covered by subscription undertakings and guarantee commitments. In connection with the Rights Issue, the Company is announcing financial targets, preliminary financial information for FY 2023, and an updated financial calendar.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, HONG KONG, JAPAN, CANADA, NEW ZEALAND OR ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL OR WOULD REQUIRE REGISTRATION OR ANY OTHER MEASURES. PLEASE REFER TO SECTION “IMPORTANT INFORMATION” BELOW.

Summary

  • The Board of Directors in Acconeer announces its intention to resolve on a Rights Issue amounting to approximately SEK 150 million before deductions for transaction costs. An EGM, which is planned to take place on 1 March 2024, is proposed to authorize the Board of Directors to resolve on the Rights Issue.
  • The Rights Issue is fully covered by a combination of subscription undertakings and guarantee commitments. Provided that the EGM resolves to change the limits of the number of shares and share capital in the Articles of Association and grants the Board of Directors authorization to resolve on the Rights Issue and the Board of Directors resolves on the Rights Issue:
    • existing shareholders Alps Alpine Co., Ltd., the Ingvarsson Family (through Sifonen AB and privately), Chairman of the Board Thomas Rex, and CEO Lars Lindell have undertaken to subscribe for shares, corresponding to their respective pro rata shares, in the Rights Issue and committed to vote in favor of all proposals at the EGM. Total subscription undertakings from these amount to approximately SEK 20 million, equivalent to approximately 13 per cent of the Rights Issue;
    • external guarantors have provided guarantee commitments subject to customary conditions which, in aggregate, amount to approximately SEK 130 million, equivalent to approximately 87 per cent of the Rights Issue; and
    • BGA Invest AB, Acconeer’s largest shareholder, has committed to vote in favor of all proposals at the EGM.
  • In connection with the Rights Issue, Acconeer’s Board of Directors has resolved on financial targets. These are:
    • Net sales of more than SEK 300 million in 2027;
    • EBIT break-even during 2025; and
    • Long-term EBIT margin of at least 25 per cent.
  • In connection with the Rights Issue, Acconeer has decided to communicate preliminary financial information for FY 2023. For FY 2023, net sales amounted preliminarily to approximately SEK 35 (47) million, gross profit amounted preliminarily to approximately SEK 25 (31) million, and EBIT amounted preliminarily to approximately SEK -47 (-47) million. At the end of FY 2023, cash and cash equivalents amounted preliminarily to approximately SEK 38 (90) million.
  • The subscription period in the Rights issue is expected to take place from and including 14 March 2024, up to and including 28 March 2024.
  • The Rights Issue, including full terms, inter alia, subscription price, number of new shares issued and increase of the share capital, is expected to be resolved by the Board of Directors around 5 March 2024. The subscription price in the Rights Issue will be priced at a customary discount to the theoretical ex-rights price (“TERP”).
  • In connection with the Rights Issue, the Company has updated its financial calendar.

Background and reasons

Acconeer’s radar sensor combines the best aspects of radar technologies through its low power consumption of pulsed radar systems and the high precision of coherent radar. This opens new opportunities for many applications with a diverse range of use cases – all in a component measuring five by five by 0.8 millimeters. Acconeer launched its first product in 2018 and has since sold more than 1.75 million radar sensors. The Company is currently in the process of expanding its product portfolio, collaborating with its strategic partner Alps Alpine to develop the next generation of pulsed coherent radar sensors, called A2.

Acconeer’s market is expected to continue growing rapidly, driven by major industry trends related to digitalization, such as 5G, artificial intelligence, and the Internet of Things. Currently, sensors based on ultrasound, infrared light, or camera technology are predominantly used. Acconeer doesn't need to create a new market but can replace existing solutions, each of which has its weaknesses.

Acconeer’s assessment is that its radar is the first radar with the size, power consumption, precision and price to enable the use of radar in e.g., consumer electronics. The applications for a radar sensor with these characteristics are numerous also in other areas such as smart cities, Internet of Things, industry, agriculture and automotive.

Intensive development of new applications is ongoing in all these areas, requiring more advanced sensors for gesture control, presence detection, level measurement and material recognition. In 2021, Acconeer signed a development agreement with Alps Alpine to develop the next generation of pulsed coherent radar sensors. This type of sensor will, among other things, be able to measure the angle of an object, enabling a wide range of use cases.

Acconeer is now prepared for the next phase of its development, consisting of a forward-leaning strategy to accelerate commercializing its first-generation product and advancing its technology for next-generation radar sensors. With this intensified development and commercialization strategy, the company aims to take significant steps towards realizing the potential of its technology in radar sensors.

To support Acconeer’s aforementioned strategy of commercializing its first-generation product and advancing its technology for the next generation, the company has decided to carry out the Rights Issue.

Assuming that the extraordinary general meeting authorizes the board to resolve on, and the board subsequently decides to carry out, the Rights Issue, Acconeer will receive a total of approximately SEK 150 million before transaction costs. The company has, through written agreements, obtained subscription and guarantee commitments equivalent to the entire Rights Issue.

Use of proceeds

The net proceeds from the Rights Issue are expected to be sufficient to fund the Company's business plan until the Company achieves positive cash flow, which is anticipated to occur during 2026. Without the Rights Issue, the Company is expected to be able to finance its business plan with existing cash until the middle of May 2024. The net proceeds are intended to be used for the following purposes:

  • repayment of debt to Buntel AB and Exelity AB (approximately SEK 30 million) and to the Swedish Tax Agency[1] (approximately SEK 15 million) both of which are nominal amounts, to which accrued interest will be added;
  • R&D, in particular the completion of A2, Acconeer’s next generation radar sensor; and
  • general corporate purposes, aimed at, but not limited to, accelerating sales.

Extraordinary General Meeting

An EGM is proposed to resolve on changes of the limits of the number of shares and share capital in the Articles of Association and to authorize the Board of Directors to resolve on the Rights Issue. The EGM is planned to be held on 1 March 2024 and the notice will be published through a separate press release.

Subscription undertakings, guarantee commitments and voting commitments

Provided that the EGM approves the proposed changes of the limits of the number of shares and share capital in the Articles of Association and grant the Board of Directors an authorization to resolve on the Rights Issue and the Board of Directors resolves on the Rights Issue, existing shareholders Alps Alpine Co., Ltd., the Ingvarsson Family (through Sifonen AB and privately), Chairman of the Board Thomas Rex, and CEO Lars Lindell have undertaken to subscribe for shares, corresponding to their respective pro rata shares, in the Rights Issue and committed to vote in favor of all proposals at the EGM. Total subscription undertakings from these amount to approximately SEK 20 million, equivalent to approximately 13 per cent of the Rights Issue. BGA Invest AB, Acconeer’s largest shareholder, has committed to vote in favor of all proposals at the EGM.

In addition to the aforementioned subscription commitments, external guarantors have provided guarantee commitments subject to customary conditions which, in aggregate, amount to approximately SEK 130 million, equivalent to approximately 87 per cent of the Rights Issue.

Thus, the Rights Issue is fully covered by subscription undertakings and guarantee commitments.

For the guarantee commitments, a guarantee commission of 10 per cent of the guaranteed amount shall be paid as a cash remuneration. No remuneration shall be paid for the subscription undertakings or declarations of intention to subscribe for shares. Neither of these commitments are secured by bank guarantee, blocked funds, pledges or similar arrangements.

Further information regarding the parties who have entered subscription undertakings and guarantee commitments will be available in the prospectus published before the start of the subscription period.

Lock-up undertakings

Prior to the Rights Issue, all board members and key executives in the Company have entered into lock-up undertakings, including commitments not to dispose of financial instruments in the Company, with certain exceptions. The lock-up undertakings expire 180 days after the announcement of the outcome of the Rights Issue.

Furthermore, the Company has undertaken in relation to Carnegie Investment Bank AB, with customary exceptions, not to issue additional shares or other share-related instruments for a period of 180 days after the announcement of the outcome of the Rights Issue.

Financial targets

In conjunction with the Rights Issue, Acconeer’s Board of Directors has resolved on financial targets. These are:

  • Net sales of more than SEK 300 million in 2027;
  • EBIT break-even during 2025; and
  • Long-term EBIT margin of at least 25 per cent.

Preliminary financial information for FY 2023

In conjunction with the Rights Issue, Acconeer has chosen to communicate preliminary financial information for FY 2023. For FY 2023, net sales amounted preliminarily to approximately SEK 35 (47) million, gross profit amounted preliminarily to approximately SEK 25 (31) million, and EBIT amounted preliminarily to approximately SEK -47 (-47) million. At the end of FY 2023, cash and cash equivalents amounted preliminarily to approximately SEK 38 (90) million.

Updated financial calendar

Due to the Rights Issue, the Company has updated its financial calendar. The 2023 annual report will be available on 5 March 2024, and the 2024 Q1 report will be available on 14 May 2024.

Prospectus

The prospectus and subscription form will be made available before the subscription period commence on Acconeer’s website, www.acconeer.com, as well as on Carnegie Investment Bank AB's (publ) website, www.carnegie.se.

Indicative timetable

Extraordinary General Meeting 1 March 2024
The Board of Directors is expected to resolve on the Rights Issue (incl. terms and conditions) 5 March 2024
Expected publishing date for the prospectus 12 March 2024
Expected record date for the Rights Issue 12 March 2024
Expected subscription period 14 March – 28 March 2024
Expected announcement of the outcome in the Rights Issue 3 April 2024


Advisers

In conjunction with the Rights Issue, the Company has engaged Carnegie Investment Bank AB (publ) as Sole Global Coordinator and Bookrunner, and Advokatfirman Schjødt as legal advisor.

For further information, please contact

Lars Lindell, CEO Acconeer AB
Phone: +46 72-583 84 28
Email: ir@acconeer.com

About Acconeer

With ground-breaking technology, Acconeer has developed a radar sensor that opens a new world of interaction. Acconeer Micro Radar Sensor, with low power consumption, high precision, small size and high robustness, is a 60GHz robust and cost-effective sensor for detection, distance measurement, motion detection and camera-supported applications with low power consumption. Acconeer combines the advantage of low power consumption with highly accurate pulsed radar systems of coherent radar, all integrated into a component with a surface area of only 28 mm2. The radar sensor can be included in a range of mobile consumer products, from smartphones to wearables, but also in areas such as robots, drones, the Internet of Things, healthcare, automotive, industrial robots and security and monitoring systems. Acconeer is a semiconductor company and, as a business model, sells hardware to manufacturers of consumer electronics products.

Visit www.acconeer.com for more information.

Visit our investor web for more financial information: www.acconeer.com/investor_page/home/

Acconeer is listed on Nasdaq First North Growth Market. Redeye is Certified Adviser.

Important information:

This announcement is not and does not form a part of any offer for selling, or a request to submit an offer to buy or acquire, shares or other securities of the Company.

Copies of this announcement are not being made and may not be distributed or sent into the United States, Australia, Hong Kong, Japan, Canada, New Zealand, or any other jurisdiction in which such distribution would be unlawful or would require registration or other measures.

The securities referred to in this announcement have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and accordingly may not be exercised, offered, sold, resold, delivered or otherwise transferred, directly or indirectly, in or into the United States, except pursuant to an applicable exemption from, or in a transaction not subject to, the requirements of the Securities Act and in compliance with any applicable securities legislation in any state or other jurisdiction of the United States. The Company do not intend to register any offering in the United States or to conduct a public offering of securities in the United States.

Forward-looking statements

Matters discussed in this announcement may constitute forward-looking statements. Forward looking statements are statements that are not historical facts and may be identified by words such as “believe”, “expect”, “anticipate”, “deems”, “intends”, “estimate”, “will”, “may”, “continue”, “should” and similar expressions. This applies in particular to statements relating to future results, financial position, cash flow, plans and expectations of the Company's operations and management, future growth and profitability, general economic and regulatory environment and other factors affecting the Company, many of which are based on further assumptions, such as no changes in existing political, legal, fiscal, market or economic conditions or applicable law (including but not limited to accounting principles, accounting methods and tax policies), which may or may not be of importance to the Company results or its ability to operate. Although the Company believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors which are difficult or impossible to predict and are beyond its control. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward looking statements.

Potential investors should therefore not attach undue confidence to the forward-looking information herein, and potential investors are urged to read the parts of the prospectus that include a more detailed description of factors that may affect the Company's operations and the market in which the Company operates.

The information, opinions and forward-looking statements contained in this announcement speak only as at its date and could be subject to change without notice.

[1] Related to temporary payment delay (Sv. ”betalningsanstånd”).

Acconeer announces automotive design win to an estimated value of USD 5 million

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Acconeer’s A121 Pulsed Coherent Radar sensor has been designed into a first car model from a leading Japanese automotive manufacturer. The design win is for the use case access control, which allows touchless opening of the trunk of a car. The total forecasted value of the design win is more than USD 5 million over a seven-year period starting in 2025. By "design win" Acconeer refers to that the company's radar sensor has been selected for use in a customer product, but it is not equivalent to that an order has been placed.

CEO Lars Lindell comments: “We are happy to see yet another automotive design win, this time with a new manufacturer and the first one in Asia. This means that we now have launches or design wins with four of the leading automotive corporations in the world, which puts us in a very good position on a market that we expect to grow at a high pace over the coming years.”

In total, Acconeer has now seen four launched car models and fourteen design wins in the automotive industry. The total forecasted value of all announced design wins is USD 40 million in the period 2024-2031. A design win is counted when a formal nomination is received, or when forecasted sales can be done with high reliability.

Acconeer’s latest radar sensor achieves a power consumption less than 80 µW for human presence detection

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The latest generation of Acconeer’s radar sensors has the world’s lowest power consumption – less than 80 µW – when used for human presence detection. These sensors are integrated in several car models to detect occupancy on each seat in the passenger compartment, and are accurate enough to even safely register a sleeping baby in a child seat.

While Acconeer’s market leading radar sensors can easily fit on the tip of a finger, they are still able to detect distance, speed and motion of multiple objects up to 20 meters away. The sensors are today deployed in a diverse selection of industries around the world, ranging from automotive and industrial installations to consumer products and IoT solutions. Many of the end products are powered by battery and have high restrictions on power consumption. When configured smartly, these sensor solutions can reach a battery lifetime of up to 10 years. 
 
The Acconeer team will be showing the products and a broad mix of live demos at the Consumer Electronics Show in Las Vegas, January 9-12. For more information and to book a meeting at the CES tradeshow, please contact Magnus Gerward at us@acconeer.com.

Acconeer receives order from Nexty worth USD 190k

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The order relates to Acconeer's pulsed coherent radar sensor A1 for mass production. NEXTY Electronics is a leading Japanese distributor with a particularly strong position in the automotive industry.

CEO Lars Lindell comments: "Nexty is our distributor for the car industry and this volume order, following the one announced in October, confirms that the automotive production ramp-up is now happening. We are of course very happy about this and expect to see even higher volumes shipped to the automotive industry going forward.”

In addition to publicly announced orders, Acconeer continuously receives orders of smaller amounts which are not publicly announced as they are not considered to affect the share price.

Acconeer announces five new automotive design wins to an estimated value of USD four million

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Acconeer’s A121 Pulsed Coherent Radar sensor has been designed in to an additional five new car models from one of the world's leading multinational automotive manufacturing corporations. The design wins are for the use case access control, which allows touchless opening of the trunk of a car. The total forecasted value of the design wins is USD four million over a seven year period starting in 2025. By "design win" Acconeer refers to that the company's radar sensor has been selected for use in a customer product, but it is not equivalent to that an order has been placed.

CEO Lars Lindell comments: “We are excited to announce new automotive design wins on several platforms, with one of the top five automotive manufacturing corporations in the world. These design wins follow a previously communicated design win with the same manufacturer, and we take them as proof of the quality of our product which is now used in several new models and on new platforms. This is something we expect to see happening with several big players in the automotive industry over the coming years.”

In total, Acconeer has now seen four launched car models and thirteen design wins in the automotive industry. The total forecasted value of all announced design wins is USD 35 million in the period 2024-2031. A design win is counted when a formal nomination is received, or when forecasted sales can be done with high reliability.