RNB Retail and Brands AB and Coala-Life AB enter into lock-up agreements with shareholders whose ownership amounts to 51 percent of the total number of shares
Due to RNB Retail and Brands AB's (“RNB” or “the Company”) acquisition of Coala-Life AB (“Coala Life”) through a non-cash issue, which was communicated by the Company on September 27, 2021, certain shareholders in Coala Life and in RNB has entered into so-called lock-up agreements with customary terms. According to the agreement, owners who will hold approximately 51 percent of the total number of shares in the Company after completion of the acquisition and the proposed debt conversions that the Company communicated on 15 October 2021, undertake not to sell or otherwise transfer shares in The company without a written consent from RNB for a period of 360 days from the day when the acquisition is completed. The commitment has also been made by persons who will be senior executives in the Company after the acquisition has been completed.
The commitments comprise a total of 18,052,673 shares in RNB, corresponding to approximately 51.1 percent of the total number of shares and votes in RNB after the completion of the acquisition and debt conversions, taking into account the aggregation (1:50) proposed at the Extraordinary General Meeting of RNB on October 29, 2021.
About Coala Life:
Coala Life is a medical device and digital health platform company active in remote and cloud-based cardiac diagnostics and remote auscultation. Coala Life has developed and launched the Coala Heart Monitor – an award-winning and FDA- and CE-approved product platform that enables long-term monitoring, analysis and algorithm-based remote diagnosis of heart and lungs. The Coala Heart Monitor and its healthcare focused Coala Care Portal are mainly marketed to caregivers who prescribe the service to patients for use in everyday life, without the need to visit any care unit. The company's solutions are based on over 10 years or R&D in Sweden and are protected by more than 30 patents. HQ’s are located in Uppsala, Sweden, and US head office is based in Irvine, CA. More than 350 healthccare providers and 1,000 physicians are connected to the Coala Care Portal. For more information see www.coalalife.com
For further information, please contact:
Kristian Lustin, CEO and President, +46 8 410 524 63, kristian.lustin@retailandbrands.se
Dan Pitulia, CEO Coala Life AB, +46 70 972 08 38, dan.pitulia@coalalife.com
Philip Siberg, Co-founder, CSO & IR Coala Life AB, +46 70 7906734 philip.siberg@coalalife.com
This information was submitted, by the above contact person, for official release at 13.55 (CEST) on October 22, 2021.