The Board of
Background
The Transaction with TeraFactory is conditional on the successful outcome of the following main steps:
(i)Enersize transfers all assets and liabilities to Enersize Sweden.
(ii)Enersize distributes 100 percent of the shares in Enersize Sweden toEnersize shareholders.
(iii) Both companies after contemplated Transaction receive conditional approval for listing on Nasdaq First North Growth Market Stockholm.
(iv)Enersize acquires 100 percent of TeraFactory through a non-cash consideration issue of shares to TeraFactory shareholders. After the share issue, TeraFactory’s shareholders owns 90 percent of the shares (fully diluted), and Enersize’s initial shareholders owns about 10 percent (the exact figure will be determined during negotiations) inEnersize that has changed name to TeraFactory.
(v) The Transaction being approved by Extraordinary General Meetings’ in both Parties.
The Parties have agreed to continue working and to use their best efforts towards reaching a final agreement and complete the Transaction in Q2, 2022. The result of the negotiations, the detailed Transaction financial structure and the time plan will be published at a later stage after due diligences have been done and provided the Share Purchase Agreement is finalized between the Parties.
”We are excited to have reached a Letter of Intent that could have significant benefits for
About TeraFactory
TeraFactory will deliver low-cost battery energy storage systems at scale with BaaS (Battery as a Service) business model. TeraFactory business model and its proprietary MCT cell technology has been developed for year’s based on the founder Jukka ”akkuJukka” Järvinen’s decades of hands-on experiences in several li-ion battery companies and factories since late 1990’s. Current deliveries are made with acquired systems until the new battery factory is ready and in production in Janakkala Finland. TeraFactory MCT cell technology has a huge volume and cost advantage over conventional technology achieved by using raw materials from organic sources and waste streams as well high speed and high-volume paper-making and coating processes. New cell technology deliveries are planned to 2023 after certification processes are finalized. TeraFactory press release is available here: http://www.terafactory.fi/press
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