The independent members of the Board of Directors of Sleep Cycle unanimously recommend the shareholders to not accept the public cash offer by Velvet Cichlid
Gothenburg, Sweden — 28 December 2022. Following an overall assessment, the Board is of the opinion that the Offer does not reflect Sleep Cycle’s growth potential and fundamental value.Background This statement is made by Sleep Cycles AB (publ)’s (“Sleep Cycle” or the “Company”) independent members of the Board of Directors (the “Board”) pursuant to section II.19 of the Nasdaq Stockholm takeover rules (the “Takeover Rules”).[1] On 19 December 2022, Velvet Cichlid AB (the “Bidder”), a company controlled by a consortium consisting of GLA Invest SA, MCGA AB, h265 AB and Petter Wallin (