As expected, Springvest and/or its affiliates exercised Solar Foods' option rights

Translation: Original published in Finnish on 10/3/2024 at 7:16 am EEST.

The news was expected, as the subscription price for the option rights was well below Solar Foods' share price. Our forecasts already take into account the dilutive effect of Solar Foods' current stock options, so the news does not change our view or require any changes to our forecasts.

Stock options were rewards for share issues arranged by Springvest

Solar foods announced on Wednesday that a total of 51,942 new shares have been subscribed for under the 1/2023 and 1/2024 stock option plans. The subscription price of the options was EUR 0.001 and the options under these plans were granted to Springvest and its affiliated agents as compensation for arranging the share issuances of Solar Foods. The marked options therefore have nothing to do with Solar Foods' employee incentive programs. As a result of the share subscriptions, the number of shares in the company will increase from 24,553,107 shares to 24,605,049. The dilutive effect of the new shares is negligible, around 0.2%.