Yubico AB agreed to acquire ACQ Bure AB (publ) (OM:ACQ SPAC) from a group of shareholders for SEK 8.2 billion in a reverse merger transaction on April 19, 2023. Yubico AB Mattias Danielsson, CEO of Yubico, will be the CEO of the Combined Company after completion of the Transaction. Upon completion of the Transaction, it is estimated that ACQ?s current shareholders will hold approximately 40.3% of the shares and votes in the Combined Company. Patrik Tigerschiöld, currently chairman of the board of directors in ACQ, is intended to become chairman of the board of directors in the Combined Company. ACQ will merge with Yubico and change its name to Yubico AB. After completion of the Transaction, the five largest shareholders of the Combined Company are expected to be Bure, Yubico co-founder Stina Ehrensvärd, AMF Tjänstepension and AMF Fonder, Andreessen Horowitz and the Fourth Swedish National Pension Fund. As of August 18, 2023, Company?s board has given a convening notice for a proposal of new board of directors in connection with the completion of the merger, to an extraordinary general meeting in the Company, to be held on 19 September 2023. Company?s board of directors shall consist of Patrik Tigerschiöld (chairman), Ramanujam Shriram, Paul Madera, Stina Ehrensvärd, Eola Änggård Runsten, and Gösta Johannesson. The proposed members of the board of directors are expected to take position as board members in connection with completion of the merger, whereby the current board members Katarina Bonde, Sarah McPhee, and Caroline af Ugglas will resign as members of the board. The Transaction is expected to be completed during the third quarter 2023, subject to, among other things, approval by the general meeting in ACQ and Yubico, Nasdaq Stockholm of the Combined Company?s application for listing on Nasdaq First North Growth Marketrespectively. As on June 20, 23023, transaction has been approved by ACQ Bure AB's shareholders. As of June 6, 2023. ACQ has applied for listing of the shares in the combined company on Nasdaq First North Growth Market upon completion of the merger. As a result thereof, ACQ has applied for de-listing of its shares from Nasdaq Stockholm on condition that the merger completes and that the application for listing of the shares in the combined company on Nasdaq First North Growth Market is approved. ACQ has proposed that the last day of trading in the ACQ share on Nasdaq Stockholm shall be September 19, 2023, and that the first day of trading in the combined company on Nasdaq First North Growth Market shall be September 20, 2023. As of September 20, 2023. All conditions for the Transaction, including conditions for de-SPAC according to the SPAC rules of the Nasdaq Nordic Main Market Rulebook for Issuers of Shares, have been fulfilled and the merger has been completed.

Skandinaviska Enskilda Banken AB is acting as financial advisor and Advokatfirman Cederquist and Davis Polk & Wardwell London LLP are acting as legal advisors to ACQ. Nord Advokater is acting as counsel to the non-conflicted board members of ACQ. Advokatfirman Vinge and Advokat Petter Wirell are acting as legal advisors and Öhrlings PricewaterhouseCoopers AB as advisor to Yubico.

Yubico AB completed the acquisition of ACQ Bure AB (publ) (OM:ACQ SPAC) from a group of shareholders in a reverse merger transaction on September 20, 2023.