M.O.B.A. Network AB (publ) (OM:MOBA) entered into a conditional agreement to acquire Wargraphs S.A.S for 50 million on May 5, 2023. The consideration of 50 million, of which 25 million is payable upfront plus an additional consideration of up to a maximum of 25 million based on the target achieved EBITDA for 12 and 24 months. Earn-Out will be payable in increments of maximum 12.5 million in 2024 and 2025, respectively.
The company intends to finance up to 10 million of the Earn-Out via share issues in kind to the seller. M.O.B.A. Network AB has mandated Nordea Bank Abp as sole bookrunner to arrange credit investor meetings commencing on May 8, 2023. The purchase agreement regarding the acquisition has been signed subject to the financing of the Initial Consideration.
As of November 30, 2022, Wargraphs generated net sales and EBITDA of 12.3 million and 8.4 million respectively. Adviso Partners acted as financial advisor and Alain-François CHÉNEAU and Anne FROTTÉ of Cabinet Fidal acted as legal advisor to Wargraphs S.A.S. KPMG Corporate Finance France acted as financial advisor and Yvon DREANO and Quentin METTE of Jeantet & Associés acted as legal advisor to M.O.B.A. Network.