Brief: Observe Medical Signs Agreement With Intention To Buy Sylak

Observe Medical ASA

16/10/2020 07:57

Oct 16 (Reuters) - Observe Medical ASA  OBSERV.OL :
    * SIGNS AGREEMENT WITH THE INTENTION TO ACQUIRE SYLAK
    * AGREED ENTERPRISE VALUE OF SEK 6 MLN (ON A CASH AND DEBT
FREE
BASIS) FROM ABIGO MEDICAL AB
    * SIGNED A NON-BINDING TERM SHEET INCLUDING AN EXCLUSIVE
RIGHT TO
ACQUIRE 100% OF SHARES IN SYLAK AB
    * PLANNED ACQUISITION WILL SIGNIFICANTLY STRENGTHEN CO'S
COMMERCIAL ORGANIZATION AND CORRESPONDING GO-TO-MARKET EXECUTION
POWER IN NORDICS
    * TRANSACTION WILL BE FINANCED THROUGH EXISTING CASH
    * PARTIES AIM TO COMPLETE CONTEMPLATED TRANSACTION ON OR
ABOUT
OCTOBER 30, 2020

Source text for Eikon:  ID:nObiQ0FyNa 
Further company coverage:  OBSERV.OL 

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