Aqua Bio Technology ASA (OB:ABTEC) agreed to acquire Ovalen As from Coc Invest AS for NOK 11 million on February 8, 2024. NOK 5 million of the purchase price will be conditional upon Ovalen's revenue and EBIT in 2024 and 2025. The purchase price will be converted into new shares in Aqua Bio Technology at a subscription price of NOK 5 per shares. The New Shares will be subject to a 36-months lock-up undertaking. The completion of the Acquisition is conditional upon a satisfactory due diligence and an approval by Aqua Bio Technology board of directors. Ovalen's revenue in 2023 is NOK 17 million.

Aqua Bio Technology ASA (OB:ABTEC) completed the acquisition of Ovalen As from Coc Invest AS on April 12, 2024. NOK 6 million of the purchase price will be settled through the issuance of 1,200,000 consideration shares at a subscription price of NOK 5 per Consideration Share. The Acquisition was subject to a successful due diligence which was completed to ABT's satisfaction and ABT's board of directors has approved the transaction which will be completed on the terms initially agreed. Ovalen had operating revenues of NOK 17 million with an EBITA of NOK 1.1 million in 2023.