Edyoutec AB signed a letter of intent to acquire MyFirstApp Group S AB and Oy 10Monkeys Ltd from MyFirstApp Sweden AB for SEK 24 million.

edyoutec AB (NGM:EDYOU) signed a letter of intent to acquire MyFirstApp Group S AB and Oy 10Monkeys Ltd from MyFirstApp Sweden AB (publ) (NGM:MFA) for SEK 24 million on June 5, 2024. The purchase price will be paid through a combination of newly issued shares in the Buyer worth SEK 8 million, based on a price of SEK 0.85 per share, and a promissory note of SEK 8 million. Some of the shares issued will be subject to lock-up provisions.

edyoutec AB shall have the right to request the conversion of the promissory note into shares in edyoutec at an unlimited number of occasions during the term at a price corresponding to the volume-weighted average price for a period of 30 days before the board decides on the conversion. An additional purchase price may be paid to the Seller 36 months based on the EBITDA of the Target Companies. The maximum additional purchase price will be SEK 8 million, and thus the maximum purchase price for the transaction will be SEK 24 million.

The completion of the transaction is conditional upon edyoutec?s due diligence and the Company and the Seller entering into a final share transfer agreement. The signing of the share transfer agreement and the completion of the transaction are planned for July 2024.