RightBridge Ventures Group AB (publ) (OM:RIGHTB) entered into a term sheet to acquire 51% stake in OV Entertainment LTD for SEK 100 million on April 11, 2024. The consideration that will be paid in a combination of cash for SEK 21 million and shares for SEK 81 million in newly issued shares in Rightbridge at a share price of SEK 0.08 per share. Rightbridge with an option to acquire the remaining 49% based on agreed EBITDA results for 2024.

Rightbridge intends to take on a short-term loan to bridge the financing until the acquisition is completed. The entity had consolidated revenues in 2023 of SEK 52 million and EBITDA of SEK 21 million. This transaction is subject to confirmatory due diligence, approval at the relevant EGM and completion of customary closing documentation.

This transaction is intended to be completed before the summer.