Subgen AI AB (“Subgen AI” or the “Company”) announces that portions of the lock-up undertakings entered into by certain shareholders of ordinary shares, as announced on 28 November 2025, have partially expired in August 2026. The remaining lock-up related to the board and management will be released in November 2027.
Certain external shareholders of ordinary shares as well as members of the board and management, i.e. Lorenzo Serratosa Gallardo (CEO and board member), José Iván García (chairman), Leandro Harillo (CPO and board member), David Jiménez (former CFO), Bren Worth (CTO) and Marta Gómez (CAO), entered into lock-up undertakings of ordinary shares as announced by the Company on 28 November 2025.
The lock-up undertakings were agreed to be released in portions over the course of a 24-month period that commenced in November 2025. The lock-up undertakings relating to external shareholders have now expired. The remaining portion of ordinary shares subject to lock-up relating to the board and management, corresponding to approximately 5.7 percent of the Company’s outstanding ordinary shares, will be released in November 2027, at which point the lock-up period will expire for all the investors.
The Company notes the partially expired lock-up undertakings are a routine milestone following the reverse takeover in 2025 and do not reflect any change in the Company’s operations, strategy or financial position.
The partial expiry of the lock-up undertakings increases the number of ordinary shares eligible for trading and may, over time, contribute to improved liquidity in the Company’s ordinary shares. The Company will continue to keep the market informed of any material developments in accordance with the Nasdaq First North Growth Market’s rules.