Eco Wave Power (WAVE) Registration Filing summary

Company overview and business model

• Develops smart, cost-efficient wave energy conversion (WEC) technology to convert ocean and sea waves into clean electricity.

• Focuses on onshore and nearshore WEC systems, differentiating from offshore solutions.

• Expanding into ancillary technology services, including feasibility studies and smart Wave Power Verification (WPV) software for real-time production verification.

• Aims to lead the renewable energy sector, targeting a share of the $3.4 trillion global investment expected in the next decade.

• Incorporated in Sweden in 2019, with ADSs traded on Nasdaq under the symbol "WAVE."

Financial performance and metrics

• As of June 30, 2024: cash and cash equivalents of $7.4 million, total liabilities of $2.2 million, and total equity of $6.5 million.

• Share capital of $98,000 and share premium of $23.1 million; accumulated deficit of $14.0 million.

• 44,394,844 common shares outstanding as of September 11, 2024.

Use of proceeds and capital allocation

• Will not receive any proceeds from the sale of ADSs by selling shareholders; all net proceeds go to the selling shareholders.