ADS-TEC Energy PLC announced that it has entered into a definitive agreement for a private placement of 1,666,667 ordinary shares for gross proceeds of $10,000,000 with Mirabella Financial Services LLP on December 22, 2023. The transaction includes new investor participation of Svelland Global Trading Master Fund. The company has entered into a warrant agreement warrants to purchase 714,285 Ordinary Shares at an exercise price of $7.00 per share that are exercisable, in whole or in part, from December 28, 2023 until on June 28, 2024 and warrants to purchase 625,000 Ordinary Shares at an exercise price of $8.00 per share that are exercisable, in whole or in part, from December 28, 2023 until on December 28, 2024.

The private placement is expected to close on December 28, 2023, subject to customary closing conditions.