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Bublar Group Acquires Goodbye Kansas - Conditions of the Deal Have Been Met


News provided by

Bublar Group AB (publ)

19 May, 2020, 06:55 GMT

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STOCKHOLM, May 19, 2020 /PRNewswire/ -- The Board of Directors of Bublar Group AB (publ) has decided to carry out the acquisition of Goodbye Kansas. The terms of the transaction are fulfilled as owners to over 90 percent of the shares in Goodbye Kansas Holding AB and the required level of creditors to the company have accepted the offer. By reaching these conditions, the already announced directed share issue can also be also completed.

"I am pleased to say that we are now one of the major players in XR technology and visualization. By further developing our products and solutions in already strong market, we are now continuing our growth strategy" says Maria Grimaldi, President and CEO at Bublar Group.

Goodbye Kansas has a world class reputation and sees the leading international companies in film, gaming and streaming among its customers. The acquisition provides the opportunity to create a world-leading player in XR technology and visualization.

Bublar's Board of Directors has decided to extend the acceptance period for the Offer until May 27, in order to allow the remaining shareholders to accept the offer.The transaction is conducted as a non-cash issue in which Goodbye Kansas shareholders and creditors are offered 16.4 million shares in Bublar in fixed consideration and up to two profit-based additional considerations in the form of a maximum of 33.9 million shares to be distributed in 2020 and 2021. In addition to the non-cash issue, a directed share issue in Bublar Group has also been carried out of approximately SEK 50 m, of which the majority will be contributed as working capital for Goodbye Kansas. More information can be found on Bublars website (in Swedish) Presentation Offer Goodbye Kansas

Terms of implementation

The transaction was conditional on Bublar receiving acceptance from holders over 90% of the shares in Goodbye Kansas and from debtors of at least SEK 45 m of Goodbye Kansas' financial liabilities totaling approximately SEK 65 m prior to being converted into equity in Goodbye Kansas. Furthermore, the transaction was conditional on successfully raising at least SEK 45 m in the form of a directed share issue.

For more information contact:

Maria A Grimaldi, President and CEO Bublar Group, email: maria.grimaldi@bublar.com , Phone:  +46-70-828-38-34

Bublar Group

Bublar Group AB (publ) is the Nordic region's leading listed XR technology company specializing in Augmented Reality (AR) and Virtual Reality (VR). The company offers XR solutions in E-commerce, Entertainment, Training and Manufacturing. The company includes the subsidiaries Vobling, Sayduck and Virtual Brains. Bublar is headquartered in Stockholm and is listed on Nasdaq First North Growth Market.

In essence, Bublar Group will change the game. We change how we Work, Shop and Play.

The company has G & W fondkommission as Certified Adviser, Kungsgatan 3, Stockholm, email: ca@gwkapital.se phone +46 8-503 000 50

Bublar Group AB (publ)  Kungstensgatan 18, SE-113 57 Stockholm  Phone +46-8-559-251-20 www.bublar.com

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/bublar-group-ab--publ-/r/bublar-group-acquires-goodbye-kansas--conditions-of-the-deal-have-been-met,c3115370

The following files are available for download:

https://mb.cision.com/Main/16283/3115370/1250214.pdf

Press release Bublar GBK eng 20200519

https://news.cision.com/bublar-group-ab--publ-/i/maria-a-grimaldi-,c2786985

Maria A Grimaldi

https://news.cision.com/bublar-group-ab--publ-/i/mariagrimaldi-press-2019-002-2,c2786986

mariagrimaldi press 2019 002-2

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