electrovac AG announces offer details for planned initial public offering

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THE PRESS RELEASE.
 

electrovac AG announces offer details for planned initial public offering

• Price range set between EUR 7.80 and EUR 10.20 per share
• Offering of up to 3,840,000 new shares from a cash capital increase and up to 921,000 existing shares from the holdings of Electrovac Holding AG, including a possible over-allotment
• Transaction volume of up to almost EUR 50 million with targeted net proceeds of approximately EUR 30 million from newly issued shares to expand international production capacity
• Subscription period starts on April 17, 2026, and is expected to end on April 27, 2026
• First day of trading on the Regulated Market (Prime Standard) of Frankfurt Stock Exchange expected on April 30, 2026

Salzweg, 15 April 2026 - electrovac AG (“electrovac” or the “electrovac Group”), a specialist in hermetic glass-to-metal packaging for protecting safety- and mission-critical electronics has set the price range for its planned initial public offering (“IPO” or the “Offering”) at EUR 7.80 to EUR 10.20 per share. The final offer price will be determined through a bookbuilding process and is expected to be set on April 27, 2026.

The Offering comprises up to 3,840,000 new shares from a cash capital increase (the “New Shares”), up to 300,000 existing shares  (the “Selling Shares”) from the holdings of Electrovac Holding AG  (the “Selling Shareholder”), and up to 621,000 existing shares (the "Overallotment Shares") from the holdings of the Selling Shareholder in connection with an over-allotment option (together with the New Shares and the Selling Shares, the "Offered Shares"). The lock-up period for the Company, the Selling Shareholder, the other existing shareholders and the CEO is 12 months, subject to customary exceptions.

In total, up to 4,761,000 shares of the Company are expected to be placed as part of the Offering. Assuming full placement, this would correspond to an offer volume of between approximately EUR 37 million and EUR 49 million. At the midpoint of the price range, the offering corresponds to a post-money market capitalization (including the new shares issued as part of the Offering) of approximately EUR 144 million and a free float of approximately 30%, enabling liquid trading in the Company’s shares. At the midpoint of the price range, net proceeds from newly issued shares amount to approximately EUR 30 million, intended primarily to accelerate the expansion of international production capacity.

Dieter Thumfart, CEO of electrovac: “There is undoubtedly strong demand in our strategic target markets Personal Safety and Aerospace & Defense. Only a handful of companies worldwide possess the know-how and certifications needed to meet this demand with electrovac being the only fully integrated supplier with end-to-end manufacturing expertise. The planned expansion of capacity takes place in parallel with our long-standing customers and mass production with zero-defect quality tolerance enables economies of scale and attractive margins.”

Full details are set out in the securities prospectus, which was approved today by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht – “BaFin”) and is available on the company’s website at www.electrovac.com under the section “IPO”.

The offer period starts on April 17, 2026, and is expected to end on April 27, 2026. Admission to trading is expected to take place on April 29, 2026, and shares of electrovac AG should be traded from April 30, 2026, under the ticker symbol EVAC and the international securities identification number (ISIN) DE000A420ZL4 on the Regulated Market (Prime Standard) of Frankfurt Stock Exchange. Delivery of the Offered Shares is also expected to take place on April 30, 2026. All Offered Shares will be fully entitled to dividend payments from April 1, 2025. The company's long-term, earnings-oriented dividend policy aims to distribute 20% of the Group's net profit determined in accordance with IFRS.

Retail investors may submit purchase orders for the public offering in Germany a) via the DirectPlace® subscription portal of the Frankfurt Stock Exchange, b) via a direct subscription channel on the issuer’s website, or c) as a subscription order through their custodian bank. Detailed information and instructions on all subscription options can be found on the IPO portal at www.electrovac.com.

In connection with the Offering, BankM and B. Metzler seel. Sohn & Co. Aktiengesellschaft („Metzler Bank“) are acting as Joint Global Coordinators and Joint Bookrunners.

About electrovac

Located in Salzweg, Germany, electrovac is a hermetic packaging specialist, manufacturing state-of-the-art glass-to-metal-sealing products, protecting safety- and system-critical electronics. Employing about 550 people, electrovac currently operates four production sites in Germany, Austria and Thailand serving more than 250 customers worldwide. Customized solutions range from small batch niche products to high-volume series production and products are used across a wide range of applications in the fields of electronics, sensors and actuators. This includes Personal Safety systems such as airbags and seatbelt components, special solutions for Aerospace and Defense required in satellite technology or military equipment as well as various solutions within Other Mobility and Industry. For more information, please visit www.electrovac.com.

Contact
electrovac AG
Anglstraße 4
94121 Salzweg, Germany

Media contact:
Frederic Hilke, Jonas Schneider (iron AG)
email: ir@electrovac.com
Phone: +49 (0) 221-914097-12

Disclaimer

This announcement is an advertisement for the purposes of Regulation (EU) 2017/1129, as amended (“Prospectus Regulation”). It does not constitute an offer to purchase any securities in electrovac AG (the “Company” and, together with its subsidiaries, the “electrovac Group”) and does not replace the securities prospectus which will be available free of charge, together with the relevant translation(s) of the summary, on the Company’s website. The approval of the securities prospectus by the German Federal Financial Supervisory Authority (“BaFin”) should not be understood as an endorsement of the investment in any securities in the Company. Investors should purchase securities in the Company solely on the basis of the prospectus (including any supplements thereto, if any) relating to the securities in the Company and should read the prospectus, which is yet to be published, (including any supplements thereto, if any) before making an investment decision in order to fully understand the potential risks and rewards associated with the decision to invest in the securities in the Company. Investment in securities entails numerous risks, including a total loss of the initial investment.

This announcement is not for distribution or release, directly or indirectly, in or into the United States, Australia, Canada, Japan or any other jurisdiction in which such distribution or release would be unlawful.

This announcement does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the Company in the United States, Australia, Canada or Japan, or any other jurisdiction in which such offer or solicitation may be unlawful. The securities mentioned herein have not been, and will not be, registered under the US Securities Act of 1933, as amended (the “Securities Act”), or the securities laws of any state or other jurisdiction of the United States. The securities may not be offered, subscribed, used, pledged, sold, resold, allotted, delivered or otherwise transferred, directly or indirectly in the United States. There will be no public offer of the securities in the United States. The securities referred to herein may not be offered or sold in Australia, Canada or Japan or to, or for the account or benefit of, any national, resident or citizen of Australia, Canada or Japan subject to certain exceptions. There will be no public offer of the securities in Australia, Canada, South Africa or Japan.

In member states of the European Economic Area (“EEA”) (other than Germany), this announcement is only addressed to and directed at persons who are “qualified investors” within the meaning of Article 2(e) of the Prospectus Regulation; to fewer than 150 natural or legal persons per EEA member state (other than “qualified investors” within the meaning of Article 2(e) of the Prospectus Regulation) subject to obtaining the prior consent of the Banks; or in any other circumstances falling within Article 1 (4) of the Prospectus Regulation.

This announcement is not being distributed to, and must not be passed on to, the general public in the United Kingdom. In the United Kingdom, this announcement is only addressed to and directed at persons who are “qualified investors” as defined under paragraph 15 of Schedule 1 of the Public Offers and Admissions to Trading Regulations 2024 (POATR) and who (i) have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”), or (ii) are high net worth entities falling within Article 49(2)(a) to (d) of the Order or (iii) are persons to whom this announcement may otherwise be lawfully communicated (all such persons being referred to as “Relevant Persons”). In the United Kingdom, this announcement is directed only at Relevant Persons. Any investment or investment activity to which this announcement relates is available only to Relevant Persons and will be engaged in only with Relevant Persons and it should not be relied on by anyone other than a Relevant Person.

This announcement does not purport to contain all information required to evaluate the Company and/or its financial position and, in particular, is subject to amendment, revision, verification, correction, completion and updating in its entirety.

None of the Company, Electrovac Holding AG (the “Selling Shareholder”), BankM AG and B. Metzler seel. Sohn & Co. Aktiengesellschaft (together the “Banks”, and together with the Company and the Selling Shareholder, the “Persons”), or any of the respective directors, officers, personally liable partners, employees, agents, affiliates, shareholders or advisers of such Persons (the “Representatives”) may notify you of changes nor is under an obligation to update or keep current the announcement or to provide the recipient thereof with access to any additional information that may arise in connection with it, save for the making of such disclosures as are required by mandatory provisions of law. This announcement does not constitute investment, legal, accounting, regulatory, taxation or other advice. No person is authorized to give any information or to make any representation not contained in and not consistent with the announcement and, if given or made, such information or representation must not be relied upon as having been authorized by or on behalf of the Company, the Selling Shareholder or any Bank.

This announcement may contain forward looking statements. These forward looking statements can be identified by the use of forward looking terminology, including the terms "plans," "targets," "aims," "continues," "believes," "estimates," "anticipates," "expects," "intends," "may," "will" or "should" or, in each case, their negative, or other variations or comparable terminology. These forward looking statements include all matters that are not historical facts. They appear in a number of places throughout this announcement and include statements regarding the electrovac Group’s intentions, beliefs or current expectations concerning, among other things, its prospects, growth, strategies and the industry in which the electrovac Group operates. By their nature, forward looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. You are cautioned that forward looking statements are not guarantees of future performance, results and events and that the development of the electrovac Group’s prospects, growth, strategies and the industry in which the electrovac Group operates as well as actual events may differ materially from those made in or suggested by the forward looking statements contained in this announcement. In addition, even if the development of the electrovac Group’s prospects, growth, strategies and the industry in which it operates and future events are consistent with the forward looking statements contained in this announcement, those developments may not be indicative of the electrovac Group’s results, liquidity or financial position or of results or developments in subsequent periods not covered by this announcement. Nothing that is contained in this announcement constitutes or should be treated as an admission concerning the financial position of the Company and/or the electrovac Group. Growth rates shown in this announcement are not necessarily indicative of our future performance. Each of the Company, the Banks and their respective Representatives expressly disclaim any obligation or undertaking to update, review or revise any forward-looking statement contained in this announcement whether as a result of new information, future developments or otherwise.

Certain information contained in this announcement on the market environment, market developments, market and economic growth rates, market trends and competition in the markets in which the electrovac Group operates is based on the Company’s assessments and estimates. These assessments and estimates are, in turn, based in part on internal market observations and on various third-party studies or estimates that are also primarily based on data or figures from publicly available sources, but which may also be based on non-public data or figures. Neither the Company nor the Banks have independently verified the market data and other information on which third parties have based their studies or the external sources on which the Company’s own estimates are based or make any representation or give any warranty as to the accuracy or completeness of such information, which is subject to change without notice. Each of the Company and the Banks expressly disclaims any responsibility for, or liability in respect of such information. Certain information included in this announcement is taken or derived from third-party market studies or reports. The information from third-party sources that is cited here has been reproduced accurately. As far as the Company is aware and is able to ascertain from information published by such third parties, no facts have been omitted that would render the reproduced information, included in this announcement, inaccurate or misleading. The fact that information from the third-party sources has been included in the announcement should not be considered as a recommendation by the relevant third parties to invest in, purchase, or take any other action with respect to, the Offering (as defined below), and prospective investors should not place undue reliance on such information. Prospective investors are advised to consider the industry and market data contained in this announcement with caution. Industry and market data is usually based on certain assumptions and expectations at the time of preparation of the relevant data which may turn out not to be accurate or appropriate, and the underlying methodology is inherently predictive and speculative. Industry and market data is typically partially based on other industry publications as well as market research, which itself is based on sampling and subjective judgments by both the researchers and the respondents, including judgments about what types of products and transactions should be included in the relevant market. Accordingly, publications containing industry and market data generally state that the information contained therein is believed to be accurate but that no representation or warranty is made by the third-party provider as to the accuracy or completeness of such information or that any projections or estimates will be realized.

The information contained in this announcement does not purport to be comprehensive and has not been subject to any independent audit or review. This announcement contains certain supplemental or alternative measures of operating and financial performance that are not calculated in accordance with the International Financial Reporting Standards as adopted by the European Union (“IFRS”) or the German Commercial Code ("Handelsgesetzbuch") and German generally accepted accounting principles, and which would be considered non-IFRS/non-GAAP financial measures. These non-IFRS/non-GAAP financial measures may not be comparable to similarly titled measures presented by other companies nor should they be construed as an alternative to other financial measures that are computed in accordance with IFRS or other generally accepted accounting principles. There are material limitations associated with the use of such measures. You are cautioned not to place undue reliance on any non-IFRS/non-GAAP financial measures and ratios included herein.

Certain figures, including financial and market data, contained in this announcement have been rounded and the relevant sums may not add up to 100% due to rounding.

The Banks are acting exclusively for the Company and the Selling Shareholder and no one else in connection with the planned offering of shares of the Company (the “Offering”). They will not regard any other person as their respective clients in relation to the Offering and will not be responsible to anyone other than the Company and the Selling Shareholder for providing the protections afforded to their respective clients, nor for providing advice in relation to the Offering, the contents of this announcement or any transaction, arrangement or other matter referred to herein.

In connection with the Offering, the Banks and any of their affiliates, acting as investors for their own accounts, may subscribe for or purchase securities of the Company and in that capacity may retain, purchase, sell, offer to sell or otherwise deal for their own accounts in such securities and other securities of the Company or related investments in connection with the Offering or otherwise. Accordingly, references in the prospectus, once published, to the securities being issued, offered, subscribed, acquired, placed or otherwise dealt in should be read as including any issue or offer to, or subscription, acquisition, placing or dealing by the Banks and any of their affiliates acting as investors for their own accounts. In addition, certain of the Banks or their respective affiliates may enter into financing arrangements (including swaps or contracts for differences) with investors in connection with which such Banks (or their affiliates) may from time to time acquire, hold or dispose of the Company’s shares. The Banks do not intend to disclose the extent of any such investment or transactions otherwise than in accordance with any legal or regulatory obligations to do so.

None of the Banks or any of their respective Representatives accepts any responsibility or liability whatsoever for or makes any representation or warranty, express or implied, as to the truth, accuracy or completeness of the information in this announcement (or whether any information has been omitted from the announcement) or any other information relating to the Company, its subsidiaries or associated companies, whether written, oral or in a visual or electronic form, and howsoever transmitted or made available or for any loss howsoever arising from any use of this announcement or its contents or otherwise arising in connection therewith.

The information contained in this announcement is for background purposes only and does not purport to be full or complete. No reliance may be placed by any person for any purpose on the information contained in this announcement or its accuracy, fairness or completeness.

The date of the admission to trading of shares of the Company on the regulated market segment (regulierter Markt) of the Frankfurt Stock Exchange (Frankfurter Wertpapierbörse) with simultaneous admission to the sub-segment of the regulated market with additional post-admission obligations (Prime Standard) of the Frankfurt Stock Exchange (Frankfurter Wertpapierbörse) (together, the “Admission”) may be influenced by things such as market conditions. There is no guarantee that admission will occur and no financial decision should be based on the intentions of the Company in relation to Admission at this stage. Acquiring investments to which this announcement relates may expose an investor to a significant risk of losing all of the amount invested. Persons considering making such investments should consult an authorized person specializing in advising on such investments. This announcement does not constitute a recommendation concerning the Offering. The value of shares can decrease as well as increase. Potential investors should consult a professional advisor as to the suitability of the Offering for the person concerned.