Brief: Huddlestock FinTech Signs Term Sheet To Acquire 100% Of Tracs Group Of Companies

Huddlestock Fintech AS

12/05/2022 07:26

May 12 (Reuters) - Huddlestock Fintech AS  HUDL.OL :
    * HUDDLESTOCK FINTECH AS (OSE: HUDL) SIGNS TERM SHEET TO
ACQUIRE
100% OF
    * HUDDLESTOCK FINTECH AS (OSE: HUDL) SIGNS TERM SHEET TO
ACQUIRE
100% OF TRACS GROUP OF COMPANIES INCLUDING A FULL INVESTMENT
BANKING LICENSE
    * SIGNING OF SPA AGREEMENT AND CLOSING OF TRANSACTION IS
EXPECTED
BEFORE END OF JUNE 2022
    * AGREEMENT WILL GIVE OWNERS OF TRAC SERVICES AND TRAC
TECHNOLOGY
OWNERSHIP EQUAL TO 9% OF OUTSTANDING SHARES IN HUDDLESTOCK AFTER
ISSUANCE OF NEW SHARES
    * IN ADDITION, THERE WILL BE A BONUS OF 3% SHARES, IF
HUDDLESTOCK
GROUP REACHES A TOTAL REVENUE OF NOK 100 MILLION WITH AN EBITDA
MARGIN EQUAL TO 5% IN 2023

Source text for Eikon:  ID:nObi329Hca 
Further company coverage:  HUDL.OL 

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