SCHMID Group Closes Business Combination and Begins Trading on the Nasdaq Stock Exchange

Highlights

• SCHMID Group and Pegasus Digital Mobility Acquisition Corp. announce the completion of their business combination.
• As a result, starting April 30, 2024 the existing company’s legal name is SCHMID Group N.V.
• SCHMID Group N.V. shares will begin trading on the Nasdaq Global Select Market under the ticker symbol “SHMD”.
• SCHMID signed non-redemption and investment agreement for approximately USD 26 million in committed capital with the business combination (before costs).
• SCHMID is a global solutions provider for the high-tech electronic, photovoltaics, glass, and energy systems industries, with its parent company Gebr. SCHMID GmbH, based in Freudenstadt, Germany.
• SCHMID has aggregated a diverse group of experts to sit on their Board of Directors.

FREUDENSTADT, Germany and GREENWICH, Conn., May 01, 2024 (GLOBE NEWSWIRE) -- Gebr. SCHMID GmbH (the "Company" or "SCHMID," and together with its consolidated subsidiaries, the "SCHMID Group" or "Group"), a global solutions provider for the high-tech electronic, photovoltaics, glass, and energy systems industries, and Pegasus Digital Mobility Acquisition Corp. ("Pegasus") (NYSE: PGSS) announced the completion of their business combination. As a result, starting April 30, 2024 the existing company’s legal name is SCHMID Group N.V. Today, SCHMID Group N.V.'s shares will begin trading on the Nasdaq Global Select Market under the ticker symbol “SHMD”.

The business combination, first announced on May 31, 2023, has resulted in the initial listing of SCHMID on NASDAQ in New York. SCHMID believes that the completion of the business combination and public listing further enables SCHMID to win large scale deployment contracts, attract top talent and provide a currency for targeted acquisitions.

SCHMID is a 160-year-old technology company in its fifth generation of family ownership and management. SCHMID focuses on developing customized equipment and process solutions for multiple industries including high-tech electronics, photovoltaics, glass and energy systems. With expertise in applying & connecting technical layer stacks paired with being a supplier of capital equipment – SCHMID provides solutions for advanced packaging on panel level size, high-end printed circuit boards as well as PV & Glass manufacturing and energy storage. SCHMID solutions are underpinned by a commitment to sustainable innovation. R&D is geared to help customers achieve their CO2 neutrality targets and greener manufacturing.