Huddlestock announce first closing of transaction with Done.ai
Reference is made to the stock exchange announcement made by Huddlestock Fintech AS ("Huddlestock" or the "Company") on 14 April 2025 regarding the transaction agreement entered into with Done.ai Group AB ("Done.ai"), listed on Nasdaq First North Growth Market, whereby Done.ai will acquire Huddlestock's Nordic Investment-as-a-Service ("IaaS") platform (the “Transaction”).
The first closing of the Transaction is today completed in accordance with the planned timeline, whereby Done.ai has taken over the ownership of Huddlestock AB and Huddlestock Technologies AB and has completed the settlement of NOK 10 million in cash and NOK 56 million as a seller’s credit note (the “Seller’s credit”).
The second and final closing, including the transfer of ownership of Huddlestock Investor Services AS (“HIS”), will occur upon approval from the Norwegian Financial Supervisory Authority (Finanstilsynet). Following the final closing the Transaction the Seller’s credit will be increased to NOK 71 million.
The Seller’s Credit is convertible into shares in Done.ai by 15 August 2025.
For further details, see stock exchange announcement:
Disclosure regulation
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Contacts
Leif Arnold Thomas
Chief Executive Officer
Huddlestock Fintech AS
Tel:
About Huddlestock Fintech AS
Huddlestock is an innovative technology software provider through its Investment-as-a-service offering, with full operational service support and a leading financial Consultancy services business. We deliver innovative and sustainable technology and operational solutions to companies offering financial products and services.
Find out more at huddlestock.com
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