Deversify AB signed a letter of intent to acquire Euroafrica Digital Ventures AB (publ) (OM:EURA) in a reverse merger transaction on January 17, 2024. Deversify AB entered into share transfer agreement to acquire Euroafrica Digital Ventures AB (publ) (OM:EURA) in a reverse merger transaction on February 29, 2024. After the completion of the transaction, Deversify's shareholders are expected to hold approximately 85 percent of the shares in the new company.

The transaction is subject to approval by the Extraordinary General Meeting of Euroafrica Digital Ventures and Nasdaq. Exact valuations will be determined following customary legal and commercial due diligence, with expected completion in January 2024. As of March 5, 2024, Deversify has signed a conditional agreement for a reverse acquisition with Euroafrica Digital Ventures. The proposed Transaction constitutes a so-called reverse acquisition and as a result of the Transaction, Euroafrica undergoes a business change and name change to Deversify Health AB and only continues Deversify's business. The transaction and the proposed name change are intended to be approved at the extraordinary general meeting that will take place on July 25, 2024, for which notice has been published on June 24, 2024. The approval is conditional on: the Company completing the Transaction and sufficient cash being received to cover the Company's working capital needs during the next twelve months. The board of Euroafrica Digital Ventures assesses that the planned Transaction is beneficial for the shareholders of the Company. As of July 9, 2024, Euroafrica Digital Ventures AB auft Deversify Health AB (publ) (the "Company") has received conditional approval from Nasdaq Stockholm regarding continued listing on the Nasdaq First North Growth Market.