Rolling Optics International AB intends to acquire ICTA AB (OM:ICTA) in a reverse merger transaction for approximately KRW 1 billion.
Johan Stern will be appointed as Chairman of the Board, Axel Lundvall will be appointed as Chief Executive Officer, Carin Jakobson will be appointed as Chief Financial Officer, Rikard Östberg will be appointed as Business Development Manager, Axel Brangenfeldt will be appointed as Sales Manager and Johannes Enlund will be appointed as Technical Manager. The transaction is subject to approval of issue of preference shares to the existing shareholders and new issue of SEK 10 million that will be directed to Rolling Optics' existing owners. Transaction is subject to approval of application for listing on Nasdaq First. Transaction is conditional on at least 75% of Rolling Optics 'existing shareholders accepting the offer. As of April 2, 2020, ICTA has obtained voting commitments from existing shareholders corresponding to 55% of the shareholder.
Erik Penser Bank AB acted as financial advisor and Håkan Fohlin and Marcus Nivinger of Setterwalls Advokatbyrå AB acted as legal advisors to ICTA AB.