Safello has completed the acquisition of Bitcoin.se
Safello Group AB (“Safello” or “the Company”), has completed the acquisition of 100 percent of the shares in Rational Money AB (’’Bitcoin.se’’), which was announced on 29 March 2021. Rational Money AB owns and runs the educational website www.bitcoin.se.
Safello has paid SEK 2,000,000 in cash to the seller of Bitcoin.se, Irrational Money AB (the “Seller”), and resolved to issue 500,000 new common shares in Safello (the “Consideration Shares”) to the Seller, corresponding to a value of SEK 6,750,000 (based on a price per share of SEK 13.50, which is the same price per share as the Company intends to offer in connection with the Company’s planned IPO on Nasdaq First North Growth Market during Q2 2021).
As a result of the issuance of the Consideration Shares, the number of shares and votes in the Company increase by 500,000 and the Company’s share capital increases by SEK 25,000.
Through the completion of the acquisition, the Seller holds approximately 2.87 percent of the outstanding shares and votes in Safello. 100 percent of the Consideration Shares will be subject to a 12-month lock-up from the first day of trading on Nasdaq First North Growth Market. After the first 12 months, 50 percent of the Consideration Shares will be subject to lock-up during the three-month period following the aforementioned twelve-month period and 25 per cent of the Consideration Shares will be locked up during the three-month-period following the aforementioned three-month period.
Advisers
Advokatfirman Schjødt together with Kassai Law are acting as legal adviser to Safello in connection with the transaction. Lundberg & Associates is acting as legal adviser to the Seller.
For more information, please contact:
Frank Schuil, co-founder and CEO of Safello, press@safello.com
Certified Adviser
Corpura Fondkommission AB, info@corpura.se, +46 722 52 34 51
Safello is an online cryptocurrency brokerage. Regulated as a financial institution with Finansinspektionen (Swedish FSA), Safello offers a secure way to buy and sell crypto, in seamless transactions at industry-leading speeds. Partners integrate Safello’s brokerage solution to their web and mobile applications. In 2015, Safello made international headlines, following a proof-of-concept partnership with Barclays, making it the world’s first crypto player to partner up with a major bank to explore cryptocurrencies. Operational since 2013 in Sweden, Safello is driving crypto adoption for users, with a safe, efficient and user-friendly platform.