Subgen AI announces final outcome of the voluntary public offer to shareholders of Spanish subsidiary Substrate AI and resolves on directed issue of 291,284,082 ordinary shares with payment in kind
On 4 March 2026, Subgen AI AB (“Subgen AI” or the “Company”) announced a voluntary public offer to the shareholders of its controlled Spanish subsidiary Substrate Artificial Inteligence, S.A. (“Substrate AI”) to transfer a maximum of 162,426,300 A shares issued by Substrate AI to Subgen AI, against consideration in the form of a total of a maximum 974,557,800 newly issued ordinary shares in Subgen AI (the “Offer”). The acceptance period expired on 27 March 2026, and on 1 April 2026 Subgen AI declared the Offer unconditional following satisfaction of the offer condition, as announced in connection with the preliminary outcome. The final outcome shows that acceptances have been received from shareholders representing approximately 23.7 percent of the capital and approximately 23.9 percent of votes in Substrate AI, an increase compared to the preliminary outcome announced on 1 April 2026, reflecting additional acceptances processed subsequent to such initial announcement. The Board of Directors of Subgen AI has today, pursuant to the authorization granted at the annual general meeting held on 30 June 2025, resolved on a directed issue of a maximum of 291,284,082 ordinary shares with payment in kind for the purpose of delivering the consideration upon completion of the Offer.