GLA Invest SA, MCGA AB, h265 AB and Petter Wallin bid to acquire remaining shares in Sleep Cycle AB (publ) (OM:SLEEP) from consortium for approximately SEK 270 million on December 19, 2022. Consortium of buyers will acquire shares at a price of SEK 42.5 per share. The Offer is fully financed by funds already available to the Bidder as well as a credit facility secured for the intended transaction. The transaction is subject to approval of regulatory board/committee. As of December 28, 2022, The independent members of the Board of Directors of Sleep Cycle unanimously recommend the shareholders to not accept the public cash offer by Velvet Cichlid. The acceptance period for the Offer is expected to commence around December 20, 2022 and expire around January 31, 2023. Settlement is expected to take place around February 6, 2023. As of January 16, 2023 the consortium does not intend to sweeten its takeover proposal. The Bidder and the Consortium has retained Carnegie Investment Bank AB (publ) as financial adviser and Advokatfirman Vinge as legal adviser. The Board has appointed SEB Corporate Finance as financial advisor and Mannheimer Swartling as legal advisor in relation to the Offer. BDO Corporate Finance at the request of the Board, provided an opinion according to which the Offer is not fair to Sleep Cycle?s shareholders from a financial point of view.

GLA Invest SA, MCGA AB, h265 AB and Petter Wallin cancelled the acquisition of the remaining shares in Sleep Cycle AB (publ) (OM:SLEEP) from consortium in the beginning of February, 2023.