In response to rapid business growth and increasing market demand for its products, the management board of Scanway has initiated a process to secure additional funding. The company’s share offering attracted strong investor interest, with demand significantly exceeding supply. As a result, the share price was set at PLN 75.00 per share through an accelerated book-building (ABB) process. The offering comprised 176,500 shares—155,000 of which will generate proceeds for the company, while 21,500 shares were sold for the benefit of the main shareholder. The total value of the offering reached PLN 13.2 million, of which PLN 11.6 million gross will directly support the company’s expansion.
These funds will primarily be allocated toward increasing production capacity—especially in the segment of telescopes with an optical diameter greater than 200 mm—by investing in the development of AIT (Assembly, Integration, and Testing) infrastructure and expanding the Space division team.
Strategic Funding Structure Involving Key Shareholder
The offering was structured in cooperation with Scanway’s major shareholder, the Jędrzej Kowalewski Family Foundation, in a way that allows investors to acquire already-listed shares on NewConnect (the Alternative Trading System in Poland). As part of the ABB transaction conducted on June 24–25, 2025, the Foundation sold 176,500 shares. Proceeds from 155,000 shares will be reinvested to subscribe for newly issued Series F shares at the same price of PLN 75.00. The remaining 21,500 shares sold generated personal funds for the shareholder. According to the investment agreement between the Foundation and Scanway, Series F shares will be priced identically to the ABB offering. A lock-up period for these Series F shares will last until December 31, 2025.
“We are thrilled with the overwhelming investor interest in our shares, which exceeded the size of the offering by a wide margin. We see this as a clear sign of appreciation for our achievements since our October 2023 debut on NewConnect, and a strong vote of confidence in our future growth,” said Jędrzej Kowalewski, CEO of Scanway S.A.
“We’ll use these funds to significantly boost our production capacity—especially for telescopes above 200 mm—expand AIT infrastructure, and grow our Space team. A portion of the proceeds will also strengthen our working capital, increasing our operational flexibility amid growing business scale.”
Historic Contract Spurs Capital Needs
Scanway had previously hinted at the possibility of raising additional capital if a significant opportunity arose. That scenario materialized on June 23, when the company announced the signing of its largest-ever contract—valued at over PLN 38 million, more than double the company’s backlog as of March 31, 2025.
“Executing projects of this magnitude requires further investment in our production capabilities to effectively scale operations and enhance our global competitiveness,” Kowalewski added.
Track Record of Innovation and Growth
The offering price of PLN 75.00 per share is more than twice the price of Scanway’s previous issuance in October 2024. In recent months, the company has strengthened relationships with global clients, including a contract from U.S.-based Intuitive Machines for a telescope to support lunar exploration, making Scanway responsible for developing a European lunar data processing system.
Scanway continues to advance its unique APAP (Acquisition, Processing, Analysis, and Prediction) optical data chain capabilities, combining insights from both its Space and Industry divisions. The company closed 2024 with record results and is now one of Poland’s leading space tech exporters.
In 2024, Scanway reported total revenues of PLN 12.1 million, an 82% year-over-year increase. These revenues include net sales of products, goods, and services, as well as grants (mainly related to PIAST and EagleEye space projects). As of March 31, 2025, the company had a backlog of PLN 16.9 million in signed and ongoing contracts. This figure is expected to grow by over PLN 38 million following the South Asian contract and additional funds from a €26.3 million CAMILA project pool, in which Scanway is one of eight subcontractors. Details of the CAMILA execution contract will be disclosed in a separate announcement.
Shareholder Commitment and Future Plans
“Given the strong investor demand, after securing the expected proceeds from the 155,000 shares sold for the company, I decided to sell an additional 21,500 shares to support my Family Foundation’s initiatives. I remain the company’s main shareholder and believe our biggest successes are still ahead. I am fully committed to turning that vision into reality for the benefit of Scanway, its current and future shareholders,” said Kowalewski.
“We are also reaffirming our intention to move to the main market of the Warsaw Stock Exchange (WSE). We plan to submit a prospectus related to this transition in the coming months.”
Space Economy Leadership
Scanway has long been a contributor to the development of the space economy. In 2024, the company’s products were featured in two of the most important Polish and European space missions. These include the largest telescope ever developed by Poland for the EagleEye satellite and camera systems for the inaugural flight of the European Ariane 6 rocket.
The company is also executing constellation projects with global clients, such as Nara Space (South Korea, €2.7 million) and Marble Imaging (Germany, €3.2 million), with future potential for expansion.
The offering was managed by Navigator Brokerage House S.A. as the bookrunner. Legal advisory was provided by LLW Lewczuk Łyszczarek Szymczyk, and cc group served as the company’s IR and Authorized Adviser on NewConnect.
Source: managerplus.pl
