Brief: GFJ ESG Acquisition To Acquire Tado

Learnd SE

17/01/2022 06:36

Jan 17 (Reuters) - GFJ ESG ACQUISITION I SE  GFJ1.DE :
    * AND TADO GMBH EXECUTED LETTER OF INTENT AND EXPECT TO SIGN
BUSINESS COMBINATION AGREEMENT; PIPE MARKETING PROCESS TO
COMMENCE
    * IN CONTEXT OF TRANSACTION, EXISTING SHAREHOLDERS OF TADO
WOULD
TRANSFER 100% OF OUTSTANDING EQUITY AND EQUITY EQUIVALENTS OF
TADO TO COMPANY IN EXCHANGE FOR (I) NEW SHARES IN COMPANY AND
(II) A CONSIDERATION IN CASH IN AN AMOUNT OF UP TO EUR 25
MILLION
    * HAS ENTERED INTO A NON-BINDING LETTER OF INTENT ("LOI")
FOR A
BUSINESS COMBINATION AGREEMENT ( "BCA") WITH TADO GMBH, MUNICH,
GERMANY
    * COMBINED GROUP WILL BE LISTED ON FRANKFURT STOCK EXCHANGE
AND
WILL HAVE A SHAREHOLDER BASE COMPRISED OF (I) TADO'S EXISTING
SHAREHOLDERS, (II) COMPANY'S SHAREHOLDERS, AND (III) PIPE
INVESTORS
    * TRANSACTION, AS CURRENTLY ENVISAGED, WILL VALUE TADO WITH
AN
ENTERPRISE VALUE OF APPROXIMATELY EUR 450 MILLION
    * COMPANY AND TADO WILL NOW START MARKETING PIPE INVESTMENT
(PRIVATE INVESTMENT IN PUBLIC EQUITY)
    * SUBSEQUENTLY, PARTIES PLAN TO SIGN BCA
    * IN CONTEXT OF TRANSACTION, EXISTING SHAREHOLDERS OF TADO
WOULD
TRANSFER 100% OF OUTSTANDING EQUITY AND EQUITY EQUIVALENTS OF
TADO TO COMPANY IN EXCHANGE FOR (I) NEW SHARES IN COMPANY AND
(II) A CONSIDERATION IN CASH IN AN AMOUNT OF UP TO EUR 25
MILLION

Source text for Eikon:  ID:nEQ5KKJtTa 
Further company coverage:  GFJ1.DE 

 (Gdansk Newsroom)
 ((Gdansk.newsroom@thomsonreuters.com; +48 58 7696600;))