May 01, 2024 , "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 signed non-redemption and investment agreement for approximately USD 26 million in committed capital with the business combination including from various institutional investors as well as USD 8 million from Pegasus Digital Mobility Sponsor LLC, the sponsor of Pegasus.

Currently, the SCHMID Group and the U.S. circuit board manufacturer Calumet Electronics are collaborating to build an advanced semiconductor packaging substrate factory.The R&D teams from both sides  are collaborating across enterprises to develop a modular, space-efficient approach that maximizes environmental conservation, process efficiency, and cost savings while minimizing costly cleanroom footprints.

About SCHMID Group

The SCHMID Group is a world-leading global solutions provider for the high-tech electronic, photovoltaics, glass, and energy systems industries, with its parent company Gebr. SCHMID GmbH is based in Freudenstadt, Germany.  Established in 1864 as a family-owned enterprise, the company is currently managed by the fifth generation and holds over 1000 patents and process solutions.Today it employs more than 800 staff members worldwide, and has technology centers and manufacturing sites in multiple locations including Germany and China, in addition to several sales and service locations globally. 

Entering the PCB industry in 1964, the solar energy sector in 2002, and the energy storage industry in 2013, The Group focuses on developing customized equipment and process solutions for multiple industries including electronics, renewables, and energy storage. Our system and process solutions for the manufacture of substrates, printed circuit boards and other electrical components ensure the highest technology levels, high yields with low production costs, maximized efficiency, quality, and sustainability in green production processes. Their product focus lies in mSAP/SAP and embedded trace technologies.

The management of SCHMID Group▼

Steffen Beck (Director Technology), Christian Buchner (VP BU Photovoltaics), Julian Saier (Director Customer Service), Julia Natterer (CFO), Christian Schmid (CEO), Helmut Rauch (COO) and Thomas Widmann (VP Technology)

About Pegasus Digital Mobility Acquisition Corp

Pegasus Digital Mobility Acquisition Corp. is a special purpose acquisition company incorporated as a Cayman Islands exempted company and formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. Pegasus was founded by StratCap, LLC, an investment management organization focused on digital economy investments, and is led by Sir Ralf Speth, Chairman and CEO, Dr. Stefan Berger, Chief Investment Officer, and F. Jeremey Mistry, Chief Financial Officer. 

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Editor：King&Lulu

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