Shape Robotics files formal complaint regarding suspected market manipulation and provides update on trust, transparency and next steps

Company announcement no. 27-25
Copenhagen, November 27, 2025
This announcement contains inside information

Shape Robotics A/S ("Shape Robotics" or the "Company") announces that it has submitted a formal complaint to Nasdaq Copenhagen concerning suspected market manipulation and undisclosed conflicts of interest related to trading in the Companyʼs shares in March 2024. The complaint has been prepared and filed by the Company following a decision by the Board of Directors and Management and has been supported by underlying documentation, including official shareholding records, trading data and relevant correspondence.

In the complaint, Shape Robotics describes a series of events in March 2024, where: A widely followed external analyst distributed a highly positive "back of the envelope" analysis of Shape Robotics shortly before a capital increase. According to the Companyʼs information, the analyst did not disclose his personal shareholding in Shape Robotics in connection with the analysis, despite participating as an investor in the subsequent capital increase. Following publication of the analysis, the Companyʼs share price rose sharply in a short period of time, before declining again to levels that resulted in losses for many ordinary investors. The complaint raises concerns that these circumstances may constitute violations of applicable rules on market abuse, disclosure of conflicts of interest and fair treatment of investors.

The decision to file the complaint reflects the Boardʼs and Managementʼs commitment to transparency and to safeguarding the interests of all shareholders, in particular smaller private investors. Shape Robotics believes that confidence in the integrity of trading in the Companyʼs shares is a precondition for any long term value creation. The Company does not intend to comment on the substance of the case beyond what is set out in the complaint. Any assessment of potential rule breaches will be made by Nasdaq Copenhagen and other competent authorities as part of their own processes. 

Shape Robotics will cooperate fully with Nasdaq Copenhagen, Finanstilsynet and any other relevant authority in their review of the matter. The Company has already provided underlying documentation supporting the complaint and is prepared to submit any further information requested. Current business and financial position As previously communicated, Shape Robotics is operating in a challenging liquidity environment, influenced by delayed order intake in Poland, lower activity in Romania and long customer payment terms. The Company is in ongoing dialogue with lenders, suppliers and investors regarding the Companyʼs capital structure, financing and a comprehensive restructuring plan. The Board believes that restoring trust in the fairness and transparency of trading in Shape Roboticsʼ shares is an important element in securing future financing and in protecting long term shareholder value.

This company announcement does not in itself change the Companyʼs previously communicated financial information or expectations. Any updates to financial guidance, capital structure or strategic initiatives will be communicated separately in accordance with Nasdaq Copenhagenʼs rules on disclosure of inside information.

Additional information
Mark-Robert Abraham, Chief Executive Officer
Tlf.: +45 20 55 40 44
Email: ir@shaperobotics.com 
CVR-nr. 38322656
www.shaperobotics.com