Brief: Fram Signs LoI To Divest Dragonlend To US-Listed Acquirer

Fram Skandinavien AB (publ)

17/08/2023 14:56

Aug 17 (Reuters) - Fram Skandinavien AB (publ)
 FRAMb.ST :
    * FRAM SIGNED A LETTER OF INTENT TO DIVEST DRAGONLEND TO
US-LISTED
ACQUIRER, GOLOGIQ
    * PURCHASE PRICE (PAID ALL IN FORM OF SHARES OF ACQUIRER) IS
UP TO
US$20 MILLION (OF WHICH US$6 MILLION UPFRONT AND REMAINDER IN
FORM OF AN EARNOUT)
    * UNDER TERMS OF LETTER OF INTENT, GOLOGIQ WILL ACQUIRE 100%
OF
FRAM VENTURE 7 AB
    * DEFINITIVE AGREEMENT HAS YET TO BE SIGNED AND NO
ASSURANCES CAN
BE GIVEN IT WILL BE EXECUTED OR TRANSACTION WILL BE COMPLETED AS
DESCRIBED
    * COMPANY ANTICIPATES CLOSING TRANSACTION OVER COMING MONTHS

Source text for Eikon:  ID:nMFN96q3Qq 
Further company coverage:  FRAMb.ST 

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