Odd Molly Sverige AB entered into an agreement to acquire We aRe Spin Dye (WRSD) AB (publ) (NGM:WRSD) in a reverse merger transaction for approximately SEK 150 million on March 26, 2021. The consideration includes payment in 7.8 million newly issued shares of We aRe Spin Dye. Post-acquisition, Odd Molly will hold 53% of the shares of We aRe Spin Dye and We aRe Spin Dye intends to change its name to Nordic Fashion Tech Group (NFTG). The transaction is subject to approval of shareholders of Odd Molly International and the shareholders in Odd Molly International AB, representing 61.8%, have issued voting rights commitments to the Annual General Meeting on May 7, 2021 to vote yes to the sale of the fashion operations to WRSD. The transaction is expected to close by the end of May 2021. QAP Legal Advisors acted as legal advisor to We aRe Spin Dye and Walthon Advokater acted as legal advisor to Odd Molly International AB (publ) in the transaction.

Odd Molly Sverige AB completed the acquisition of We aRe Spin Dye (WRSD) AB (publ) (NGM:WRSD) in a reverse merger transaction on July 1, 2021.