Brief: Otovo Signs Term Sheet To Sell Subscription Portfolio In Continental Markets

Otovo ASA

24/10/2024 08:37

Oct 24 (Reuters) - Otovo ASA  OTOVO.OL :
    * SIGNS TERM SHEET TO SELL SUBSCRIPTION PORTFOLIO IN
CONTINENTAL
MARKETS
    * TRANSACTION INCLUDES SALE OF EXISTING AND NEW SUBSCRIPTION
ASSETS
    * TRANSACTION EXPECTED TO CLOSE IN Q1 2025
    * TRANSACTION VALUE ESTIMATED AT EUR 56M, RELEASING EUR 15M
IN
CASH
    * OTOVO ASA - BUYER TO RECEIVE 55.9M WARRANTS IN OTOVO AT
NOK 1.15
PER SHARE
    * TO RETAIN 12% STAKE IN HOLDCO, FALLING TO 8% POST-FORWARD
FLOW
PERIOD

Source text for Eikon:  ID:nObiZmtKma 
Further company coverage:  OTOVO.OL 

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