Arribatec AS completed the acquisition of Hiddn Solutions ASA (OB:HIDDN) in a reverse merger transaction.
In a related transaction, Arribatec has completed a private placement of 0.85 million new shares to certain of Hiddn's shareholders. Hiddn Solutions ASA intends to change its name to Arribatec ASA upon completion of the transaction. The transaction is subject to satisfactory due diligence, necessary corporate approvals of Hiddn and Arribatec and consent to the option and undertaking to support the merger by holders of the remaining A-shares and shareholder approval at an Extraordinary General Meeting of a dividend of NOK 50 million in Hiddn. As of October 28, 2020, all conditions of the agreement have been fulfilled. The agreement is expected to be closed in October 2020. Carnegie AS acted as financial advisor to Arribatec and Hiddn. Andreas Kildal and Christian Vestheim of Advokatfirmet CLP DA acted as legal advisors for Arribatec.
Arribatec AS completed the acquisition of Hiddn Solutions ASA (OB:HIDDN) in a reverse merger transaction on October 28, 2020. As per the resolutions by the extraordinary general meeting of Hiddn Solutions of October 5, 2020, it was resolved to issue 235.82 million shares of Hiddn Solutions to the shareholders of Arribatec AS.