Robinwood Investment Pty Limited has entered into a binding agreement to acquire All business assets of Orthopedics Division from Allegra Orthopaedics Limited (ASX:AMT) for AUD 4 million on May 2, 2023. Under the Transaction, RIPL will pay the Company on completion of the Transaction AUD 1 million cash, plus the cost value of inventory being transferred to the Purchaser at completion in excess of AUD 3.3 million. As of July 24, 2023, Allegra must ensure that at completion the minimum cost value of the inventory to be transferred to RIPL is AUD 3 million.

Robinwood has agreed to waive the right of termination in the event that Inventory falls below AUD 3 million. Allegra must pay the purchaser AUD 0.25 million break fee if Allegra breaches a material clause of the agreement. Transaction is subject to approval of ASX and Allegra?s shareholders and other regulatory approvals.

It is expected to complete before July 31, 2023. As of July 24, 2023, the parties intend for completion of the transaction before August 23, 2023. Allegra plans to use the proceeds to extinguish existing debt obligations.

As on August 23, 2023, the resolution for the disposal was passed by 99.94% shareholders of Allegra Orthopaedics in the general meeting.