Bricknode publishes an information document regarding the proposed sale of its operational assets to Huddlestock Fintech AS (OSE: HUDL)
NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION IN THE UNITED STATES, CANADA, AUSTRALIA, SOUTH AFRICA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, DISTRIBUTION OR PUBLICATION WOULD BE UNLAWFUL OR REQUIRE REGISTRATION OR ANY OTHER MEASURE IN ACCORDANCE WITH APPLICABLE LAW. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION TO BUY ANY SECURITIES IN THE UNITED STATES, CANADA, AUSTRALIA, SOUTH AFRICA OR JAPAN OR ANY OTHER JURISDICTION.
Bricknode Holding AB (publ) (“Bricknode”) announced on 15 March 2023 that Bricknode and Huddlestock Fintech AS (“Huddlestock”) had entered into a purchase agreement regarding a transfer of all operational assets of Bricknode to Huddlestock in exchange for 41,138,911 consideration shares in Huddlestock, with a value of approx. SEK 107 million1 (the “Proposed Transaction”). Completion of the Proposed Transaction is conditional upon, among other things, approval by a general meeting of Bricknode (the “EGM”). The consideration shares will be issued in three separate and subsequent tranches with the first tranche issued on completion of the Proposed Transaction and the subsequent tranches expected to be issued no later than during the first six months of 2024. Bricknode’s current intention is to distribute the majority of the consideration shares to its shareholders without undue delay following receipt of each tranche.
The EGM will be held on 31 March 2023. A notice of the EGM was published on 15 March 2023.
In accordance with the Swedish Securities Council’s ruling AMN 2022:04, Bricknode has prepared an information document regarding the Proposed Transaction with Huddlestock. The information document is available on Bricknode’s website, www.bricknode.com. The information document has not been reviewed by the Swedish Financial Supervisory Authority or any other financial supervisory authority.
1NOK 106,961,169, based on a reference price of NOK 2.60 per share in Huddlestock and a NOK/SEK exchange rate of 1:1.