Shape Robotics Live | March 24, 2026
Today we published two company announcements. Not press releases. Not opinion pieces. Company announcements — the kind that get filed with regulators and indexed by every financial terminal in Europe.
I am publishing both of them here, in full, with every attachment downloadable, because 4,800 shareholders deserve to read exactly what their company is doing and why.
Watch today’s live session above for the full walkthrough and community Q&A.
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What We Filed Today
Today’s announcement covers five fronts simultaneously. Here is what happened.
1. IRIS Capital — The Money Is Ready
For those who missed it: on March 12, we announced that IRIS SARL, a French investment company, signed a Letter of Intent for an equity line facility of up to 15,000,000 shares — approximately EUR 15,000,000 in available capital.
IRIS reconfirmed immediately after the bankruptcy was annulled. The money is ready. It cannot activate because Nasdaq will not resume trading.
2. Formal Objection to Nasdaq — 29 Pages, 15 Exhibits
Nasdaq’s Head of Surveillance cited Rule 4.2.1 as authority to suspend trading when bankruptcy petitions are filed.
We read Rule 4.2.1. The full text. Every supplement in every Nordic jurisdiction — Denmark, Sweden, Finland, Iceland.
The rule does not mention the word “bankruptcy.” It does not mention the word “petition.” There is nothing in Rule 4.2.1 that authorizes Nasdaq to suspend trading based on the filing of a bankruptcy petition.
Today we filed a 29-page bilingual (English/Danish) formal objection with Nasdaq, copied to Roland Chai (EVP, Nasdaq European Market Services), Adam Kostyal (Head of European Listings), and Finanstilsynet (the Danish FSA).
The objection proves seven things:
• Rule 4.2.1 contains no reference to bankruptcy petitions
• No Nordic supplement provides for suspension based on bankruptcy petitions
• Danish law (Kapitalmarkedsloven §78(1)) prohibits suspension causing significant investor damage
• MiFID II Article 52(1) imposes the same prohibition at EU level
• Nasdaq’s own ESMA notification classified this as a “Technical or Administrative” suspension — not bankruptcy-related
• The alleged petitions have never been served on the Company
• The sole adjudicated bankruptcy was unanimously annulled by three High Court judges
We gave Nasdaq until 17:00 CET tomorrow (March 25) to either resume trading or respond in writing to 12 specific questions. If they do neither, we file with Finanstilsynet and ESMA.
3. Multiple Petitions Do Not Mean Multiple Cases
Nasdaq keeps saying “several petitions for bankruptcy.” Under the Danish Bankruptcy Act (Konkursloven), multiple creditor petitions against the same debtor are administered within the same proceedings at the same court (Skifteretten — the Maritime and Commercial Court).
There are no separate, parallel bankruptcy cases running against Shape Robotics. There is one set of proceedings, at one court, which has been adjourned for five months. Two petitions, twenty petitions, a hundred petitions — it does not matter. The court has spoken. Five months.
4. Erhvervsstyrelsen — The Deadline That Changes Nothing
The Danish Business Authority wrote to us today with deadlines: 27 March for registered office documentation, 9 April for management and auditor registration.
We responded with a detailed letter explaining we cannot access Digital Post (the trustee holds all credentials), we have zero company documents (the trustee holds everything), and the requirements are correct but physically impossible to fulfil without our own property.
Even if Erhvervsstyrelsen files a dissolution request on March 28, that request goes to the same court that just granted us five months. Court decisions take precedence over administrative deadlines.
5. The Former Trustee Destroyed Everything We Now Need
Before the bankruptcy, Shape Robotics had a registered office, a scheduled EGM, EUR 15 million in committed financing, and DKK 3,722,813.18 in its accounts. Everything was paid for. Everything was in motion.
The former trustee cancelled the EGM — the one meeting that would have given us EUR 15 million, a board, an auditor, and full compliance. He knew we had filed an appeal. He knew the bankruptcy was not final. He cancelled it anyway, in complete silence — zero Nasdaq disclosures in 59 days.
The documented destruction exceeds EUR 100,000,000:
• EUR 15,000,000 — IRIS facility blocked (EGM cancelled)
• EUR 40,000,000 — Bechtle framework destroyed (Sanako bankruptcy)
• EUR 24,000,000 — Romanian government grant lost (trustee failed to file)
• EUR 9,000,000 — Sanako Oy pushed into Finnish bankruptcy
• DKK 199,000,000 — All subsidiaries written to zero in 59 days
Criminal complaints are filed in both Denmark (Copenhagen Police, case 0100-83986-10362-26) and Romania. The claim against Kromann Reumert’s professional liability insurance has been initiated.
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FundShape — The Bridge That Keeps Us Alive
EUR 15 million from IRIS is ready but blocked by Nasdaq. DKK 3.7 million of our own money exists but is withheld by the former trustee.
We have five months of court-protected time but need funds to use them — for the EGM, the auditor, the bailiff court, the legal proceedings.
The bridge loan carries 12% annual interest, is personally guaranteed by me, and is collateralized by 960 physical robots and DKK 3.7 million in court-confirmed escrowed funds. Every euro goes to reconstruction.
As of tonight, we have approximately EUR 20,000 in pledges — from teachers, shareholders, and people across Europe who have followed this case.
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Downloads — Full Transparency
Today we filed two company announcements via Cision. All documents, exhibits, and attachments are available for download directly from the official Cision newsroom:
news.cision.com/shape-robotics
Today’s filings:
• Company Announcement 04-26 — Notice of Extraordinary General Meeting (14 April 2026, fully electronic)
• Company Announcement 07-26 — Bridge Financing, Formal Objection to Nasdaq (29 pages, 15 Exhibits), Erhvervsstyrelsen Correspondence, Nasdaq Correspondence Registry (December 2025 – March 2026), and full documentation of the former trustee’s destruction
Every PDF, every exhibit, every attachment is hosted on Cision — the same platform used by every listed company in Europe to publish regulated information. Download them. Read them. Send them to every journalist, every regulator, every investor who asks what is happening at Shape Robotics..
The answer is in the documents.
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Mark Robert Abraham
CEO & Sole Director, Shape Robotics A/S
March 24, 2026
GAME OVER | Day 19
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