Better Collective issues shares to satisfy part of purchase price for RotoGrinders Network
Board of Directors issues 208,731 new ordinary shares. Reference is made to Regulatory Release 35 “Better Collective completes acquisition of remaining shareholding in RotoGrinders Network“ released on 4 November 2021.
Pursuant to the purchase agreement entered into between Better Collective USA, Inc. and the sellers regarding the remaining 40 % share stake in Rotogrinders, Better Collective has an option to deliver an amount of up to USD 13,4 million equal to 35 % of the total purchase price in shares in Better Collective A/S.
Better Collective has elected to fully utilize the option by delivering a total of 608,148 shares to the sellers. The number of shares to be delivered have been determined as the volume weighted average share price in the 10 consecutive trading days prior to the 4 November 2021. 399,419 of the shares are treasury shares acquired through Better Collective share buyback program and the remaining 208,731 shares have today been issued by the board of directors pursuant to the authorisation set out in section 4.1 of the company’s articles of association.
The shares delivered to the sellers are subject to a 12-month lock up period.
Investor Relations: Christina Bastius Thomsen +45 2363 8844,