Brief: Shape Robotics Enters LoI For Acquisition Of Polish Tech Company

Shape Robotics A/S

28/06/2023 06:41

June 28 (Reuters) - Shape Robotics A/S  SHAPE.CO :
    * ENTERS LETTER OF INTENT FOR ACQUISITION OF POLISH
TECHNOLOGY
COMPANY
    * HAS ENTERED A NON-BINDING LETTER OF INTENT ("LOI") WITH
SHAREHOLDERS OF SKRIWARE S.A.
    * ACQUISITION IS EXPECTED TO BE COMPLETED AS A SHARE SWAP
TRANSACTION
    * NEW SHARES WILL BE ISSUED AT MARKET PRICE
    * PARTIES HAVE AGREED ON A NON-BINDING PRELIMINARY VALUATION
OF
ENTIRE SHARE CAPITAL OF SKRIWARE IN RANGE OF EUR 5.8 MLN - EUR
6.4 MLN
    * EXACT NUMBER OF NEW SHARES TO BE ISSUED TO SELLERS AS
CONSIDERATION FOR ACQUISITION WILL BE DETERMINED BASED ON FINAL
VALUATION
    * BASED ON PRELIMINARY TIMELINE, IT IS PROJECTED THAT
ACQUISITION
WILL BE FINALIZED IN Q4 OF 2023
    * SUBSTANTIAL FINANCIAL IMPACT IS ANTICIPATED TO MANIFEST IN
2024
    * SIGNING AND CLOSING IS EXPECTED TO TAKE PLACE IN Q4 2023

Source text for Eikon:  ID:nWkr8qrWWq 
Further company coverage:  SHAPE.CO 

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