“During the third quarter of the year, we have worked goal-oriented on divesting portfolio companies, reducing indebtedness, and streamlining the business with a focus on AI. During the third quarter of the year, our efforts resulted in a turnaround...
The Board of Directors of EPTI AB (publ) ("EPTI") has today unanimously decided to cancel the negotiations regarding the intended financing solution communicated on March 31, 2023. The decision follows the failure of the company and the intended financing partner to reach an agreement. Thus, EPTI will not fulfill the agreements on the acquisition of the affiliated companies Emwys AB and Aviate Leads CY LTD.
On February 15, 2023, EPTI, through the subsidiary EPTI Marketing AB, entered into an agreement to acquire all shares in the affiliate companies Emwys AB and Aviate Leads CY LTD for a total purchase price of EUR 4.7 million (approximately SEK 53 million). The agreements were conditional on EPTI securing financing no later than March 31, 2023.
On March 31, 2023, EPTI announced ongoing final negotiations regarding a financing solution corresponding to a significant amount that was intended to form part of the purchase price for the above-mentioned acquisition. In the same press release, an extension of the closing date was also communicated.
The Board of Directors of EPTI has today unanimously decided to cancel the negotiations regarding the intended financing solution. The decision follows the failure of the company and the prospective financing partner to reach an agreement.
Consequently, EPTI will not complete the acquisitions of the affiliates and will also terminate these negotiations. The fact that the company chooses not to complete the acquisitions does not entail any further obligations toward any of the sellers.
For further information, please contact:
Arli Mujkic, CEO, EPTI AB
E-mail: [email protected]
Phone: +49 176 626 999 64
EPTI is a Technology Service group with an investment arm. Through two business areas; Service and Invest, EPTI develops and invests in digital business ideas with the aim of helping prominent entrepreneurs and founders to build market-leading innovative companies. Since its inception in 2017, EPTI has built up a portfolio consisting of more than 25 companies within both the business areas Service and Invest. The company operates in eight countries around Europe and has approximately 200 employees. The head office is located in Stockholm. EPTI's shares are listed on the Nasdaq First North Growth Market and admitted to trading on the Börse Frankfurt Open Market.
For more information, see EPTI’s website www.epti.com
The Company’s Certified Adviser is Eminova Fondkommission AB | +46 (0)8-684 211 00 | [email protected]