Author: Scanway
Publication date:
Scanway’s Management Board, in view of its rapid growth and the market’s increasing interest in the Company’s products, has begun the process of raising additional funding. The Scanway share offer attracted considerable interest from investors – demand significantly exceeded the size of the offer, and the price per share was set at PLN 75.00 through an accelerated book-building (ABB) process. The offer comprised 176,500 shares, including 155,000 shares from which the proceeds will go to the Company and 21,500 shares from which the proceeds constitute the principal shareholder’s own funds. As a result, the total value of the offer amounted to PLN 13.2 million, and the Company will raise PLN 11.6 million gross to accelerate its further development, including a significant increase in production capacity, particularly in the area of telescopes with an optical diameter greater than 200 mm, including, amongst other things, the expansion of the AIT (Assembly, Integration and Testing) infrastructure and the strengthening of the Space team.
The Company, in cooperation with a significant shareholder – the Jędrzej Kowalewski Family Foundation – is raising additional funding and carrying out a transaction designed to enable investors to acquire existing shares in the Company, which are already traded on the NewConnect market under the Alternative Trading System (ASO). As part of this transaction, the Company’s significant shareholder, the Jędrzej Kowalewski Family Foundation, will sell 176,500 existing shares via an accelerated book-building (ABB) process. The proceeds from the sale of 155,000 existing shares will be used in full to subscribe for shares in the new issue (series F) by this shareholder. The proceeds from the sale of the remaining 21,500 shares constitute the principal shareholder’s own funds. In accordance with the investment agreement concluded between the Family Foundation and the Company, the share price in the planned Series F issue will be equal to the sale price of the shares sold, as determined under the ABB process. The lock-up period for the Series F shares to be acquired by the Family Foundation will end on 31 December 2025.
On 24–25 June 2025, the Jędrzej Kowalewski Family Foundation carried out an accelerated book-building process for Scanway shares. An offer to purchase a total of 176,500 shares was made to qualified investors selected by the Shareholder, or to fewer than 150 natural or legal persons other than qualified investors. The accelerated book-building process concluded on 25 June, and as a result, the price per share sold by the Jędrzej Kowalewski Family Foundation was set at PLN 75.00. The proceeds from the sale of 155,000 shares received by the Family Foundation will be used to subscribe for the same number of Series F shares at a price equal to the sale price of the shares sold, as determined in the ABB process, in accordance with the resolutions published in current report No. 14/2025.
– We are delighted that our share offering has attracted such significant interest from investors, as evidenced by demand that substantially exceeded the value of the block of shares on offer. We view this high level of interest as a clear sign of recognition of the Company’s achievements to date since its debut on the NewConnect market in October 2023, as well as an expression of investors’ confidence in its future growth prospects. We will allocate the proceeds from the offer to a significant increase in production capacity, particularly in the area of telescopes with an optical diameter greater than 200 mm, including, amongst other things, the expansion of our AIT (Assembly, Integration and Testing) infrastructure and the strengthening of our team in the Space division. Furthermore, part of the funds raised will also be used to bolster the Company’s working capital, which will further enhance our operational flexibility in light of the growing scale of our operations – comments Jędrzej Kowalewski, Chairman of the Management Board of Scanway S.A.
– We had previously informed the market that we were considering the possibility of a further share issue should an opportunity arise to significantly expand the scale of our operations – for example, through the execution of a major contract. On 23 June, we announced the signing of such a contract. Its value exceeds PLN 38 million – making it the largest contract in our history, more than double the Company’s entire order book as at 31 March 2025. Delivering projects on this scale, both current and future, requires us to make further investments in increasing production capacity in order to ensure an effective scaling process and enhance Scanway’s global competitiveness. – adds Jędrzej Kowalewski.
The share price in Scanway’s offering has been set at 75.00 zł, more than double that of the previous offering held in October 2024. In recent months, the Company has, amongst other things, expanded its cooperation with global clients in strategic business areas and secured an order for a telescope for a lunar exploration mission from Intuitive Machines in the US, under which it will develop a European lunar data processing system. Scanway is consistently developing its unique expertise in integrating key elements of the entire optical processing chain, encompassing acquisition, processing, data analysis and prediction (APAP), whilst capitalising on the synergies arising from its parallel development in the Space and Industry sectors. The Company concluded the whole of 2024 with record results and is now Poland’s leading exporter of space technologies.
In 2024, Scanway generated total revenue of PLN 12.1 million, achieving year-on-year growth of +82%. The Company defines total revenue as the sum of net revenue from the sale of products, goods and materials, plus cash received in the form of grants (mainly for the PIAST and EagleEye projects in the space business segment). As at 31 March 2025, the Company reported a backlog – that is, signed and ongoing contracts to be settled in future periods – of PLN 16.9 million. Shortly, following the record-breaking contract concluded on 23 June 2025 with a client from South Asia, this backlog will be increased by over PLN 38 million, as well as by a portion of the funds from the pool of EUR 26.3 million euros earmarked for eight subcontractors, including Scanway, as part of the CAMILA project. The Company will issue a separate announcement regarding the signing of the implementation agreement with the project leader, which sets out the detailed terms of cooperation and financial settlements, once the agreement has been concluded.
– In view of the high demand expressed by investors, and having secured the expected proceeds from the share offer to the Company arising from the sale of 155,000 shares, I have decided to sell a further 21,500 The proceeds from these shares will support the plans of my Family Foundation. I remain the majority shareholder of Scanway and believe that our greatest successes are still ahead of us. I am determined to realise this vision for the benefit of the Company’s development and its current and future shareholders. At the same time, we are proceeding with our plans to move the listing to the main market of the Warsaw Stock Exchange, and we intend to submit the Prospectus relating to the plan to transfer the Company’s share listing in the coming months – concludes Jędrzej Kowalewski.
Scanway has been actively supporting the development of the space economy for many years, and in 2024, the Company’s products were on board two of the most important Polish and European space missions. Scanway supplied the largest telescope in the history of the Polish space industry to the EagleEye satellite, as well as a camera system for the maiden flight of Europe’s latest launch vehicle, Ariane 6. Furthermore, the Company is carrying out constellation projects with global clients, including Nara Space from South Korea, worth EUR 2.7 million, and Marble Imaging from Germany, worth EUR 3.2 million. Both projects have the potential for further expansion in the future.
The Lead Manager for the Offering and Bookrunner is Dom Maklerski Navigator S.A. The Company is also supported in the public offering of its shares by the legal adviser LLW Lewczuk Łyszczarek Szymczyk. cc group acts as the Company’s IR adviser and Authorised Adviser on NewConnect.
About Scanway:
Scanway S.A. is a Polish company that has been in business for 9 years. It specializes in the optical data chain, which includes data acquisition, processing, analytics, and event prediction based on that data. In the Space segment, the company provides both hardware solutions (optical instruments, such as telescopes and cameras) and imaging analytics. In the Industry segment, it offers solutions (products) based on image data processing, including complete quality control systems. The Company’s expertise and experience in both fields are complementary and create synergies. Scanway strives to provide its customers with full access to key optical data in both segments.
As one of only a dozen or so companies worldwide, Scanway has developed a complete range of optoelectronic products for Earth observation from orbit. The company carries out key contracts for space equipment in Poland and around the world, including for commercial clients. It also operates STAR VIBE, Poland’s longest-operating optical observation satellite. The company’s solutions have been incorporated into the most important European and Polish space missions of 2024. Among other achievements, the company installed its equipment (the Scanway Camera System) on the maiden flight of Europe’s newest launch vehicle, Ariane 6, and delivered Poland’s largest-ever telescope, weighing approximately 10 kg (SOP200) to EagleEye—the largest satellite Poland has ever sent into space.
The company has completed over 40 quality control implementations in the industrial sector. As a technology partner to the sector’s largest manufacturers, it develops proprietary software solutions using AI and advanced applications for Industry 4.0.
The company has completed over 40 quality control implementations in the industrial sector. As a technology partner for the sector’s largest manufacturers, it develops proprietary software solutions using AI and advanced applications for Industry 4.0.
In October 2023, the Company made its debut on the NewConnect market. It has fully achieved the goals announced in its initial public offering and is currently preparing to move to the Main Market of the Warsaw Stock Exchange. For more information:
https://scanway.pl/ and https://scanway.space/
Media Contact
Scanway S.A. Corporate Communications Office
Katarzyna Żądło
+48 661 140 260
k.zadlo@scanway.pl
Contact for investors and analysts
Mardoniusz Maćkowiak
+48 605 959 539
mardoniusz.mackowiak@ccgroup.pl