T2c Ab entered into letter of intent to acquire All Assets of Ekobot AB (publ) from Ekobot AB (publ) (OM:EKOBOT) for ?0.3 million on April 8, 2024. T2c Ab entered into asset transfer agreement to acquire All Assets of Ekobot AB (publ) from Ekobot AB (publ) (OM:EKOBOT) on April 8, 2024. Under the terms, the purchase price for the Transaction amounts to ?260,000 and will be paid partly in the form of an amount of ?25,000 relating to the exclusivity granted to the Buyer to negotiate with the Company on the Transaction, and partly in the form of an amount of ?235,000 which will be paid on the date of closing. The payment of ?25,000 shall be paid by the Buyer on the date of the conclusion of the letter of intent and cannot be refunded by the Company unless the Transaction is not approved by the Company's shareholders at an extraordinary general meeting. The Buyer shall also reimburse EKOBOT for the Company's salary costs during April 2024 (including social security contributions) up to ?35,000. In addition to the purchase price, the Buyer has undertaken to take over one of the Company's existing bank loans as well as another of the Company?s existing debt obligations, amounting to a total of approximately ?540,000. The Transaction also includes the right to the Company's current company name "EKOBOT". Therefore, upon completion of the Transaction, the Company shall undertake to convene a new general meeting to change the company name and the objects of the Company. The transfer is made in accordance with the letter of intent entered into on April 8, 2024, the agreement on an extended test period on April 25, 2024 and with the support of the resolution at Ekobot's Extraordinary General Meeting on May 21, 2024. In accordance with the Agreement, the board of directors of the Company has, based on the authorisation from the extraordinary general meeting on January 22, 2024, also resolved on a directed issue to the Buyer of a warrant that can be exercised to subscribe for 2,316,850 shares in the Company. Post completion of the acquisition, the Company will still retain the services required to fulfil the listing requirements under the Nasdaq First North Growth Market rules.

The Transaction is, inter alia, conditional upon (i) the Buyer taking over the bank loan as set out above and that the bank approves the debtor swap, (ii) the Buyer taking over the Company's existing debt obligation to and that the creditor approves the debtor swap, (iii) the Buyer conducting tests of the Company's product during the period 20-25 April in the Netherlands and finding these satisfactory and (iv) the Buyer conducting a due diligence with satisfactory results. Furthermore, the Transaction is conditional upon an extraordinary general meeting of the Company voting in favour of approving the Transaction. Provided that an asset transfer agreement is entered into and completed, that a satisfactory due diligence is carried out and that customary conditions are met, the Transaction is intended to be completed during May 2024. As of May 31, 2024, the transaction is expected to close on June 3, 2024. The transaction will have a positive short-term cash flow impact for EKOBOT.