RightBridge Ventures seeks fine payment due to breached lock-up agreement
RightBridge Ventures Group AB ("Rightbridge" or the "Company") has been listed on Nasdaq First North Growth Market since 20 October 2022. The listing was carried out via a so-called reverse acquisition, whereby the already listed company Agilit Holding AB acquired all shares in RightBridge Ventures AB and was subsequently approved for continued listing with the company name RightBridge Ventures Group AB (ticker: RIGHTB).
The consideration for all shares in RightBridge Ventures AB was paid through newly issued shares in the listed company. Prior to the acquisition, the sellers entered into RightBridge Ventures AB lock-up agreements. It has now come to the board's attention that one of the sellers breached the lock-up agreement.
The Board of Directors has been made aware that one of the sellers has sold all its shares in the Company, which has subsequently also been confirmed by checking the Company's share register. In light of this, the Board has decided to impose a penalty payment in accordance with the applicable clause in the lock-up agreement. The company intends to continuously update on the course of events as it develops.
"The Board of Directors takes seriously the incident where agreements were entered into to protect current and new shareholders. Lock-up agreements are there to create trust between the Company and the market and it is therefore extremely disappointing that a seller chooses to act in a way that damages this trust. For the company and management, the operational activities continue as usual. "- Johan Rooth, Chairman of the Board of RightBridge Ventures Group AB
For further questions, please contact:
Johan Rooth
Chairman of the Board RightBridge Ventures Group AB
Telephone: +46 735367733
E-post: johan.rooth@abelco.se
Carlos Barrios
CEO RightBridge Ventures Group AB
Telephone: +46 705 112579
E-post: carlos.barrios@rightbridge.se
RightBridge Ventures is a compounder and investment company based in Stockholm (Sweden) dedicated to investing in companies that shape the future of esports and gaming as part of the digital media and entertainment industry. For more information visit www.rightbridge.se or get updates by following us on Twitter on Instagram and LinkedIn.
RightBridge Ventures Group AB (publ)'s shares are traded on the Nasdaq First North Growth Market and Amudova AB is a Certified Adviser.