Elon Group AB entered into reverse merger to acquire Electra Gruppen AB (publ) (OM:ELEC) on December 7, 2021. The merger will be completed by Electra acquiring all shares in Elon in exchange for 9,659,223 newly issued Electra shares through an issue in kind. Based on the closing price of Electra's share of SEK 65 per share, the value of the Electra shares issued amounts to approximately SEK 628 million. As on May 13, 2022, Nasdaq Stockholm has given approval regarding the Electra Gruppen's continued listing after the Transaction. The Transaction is subject to approval by Electra's and Elon Group Holding's general meetings, approval from the relevant competition authority and the SFSA's1 approval of the prospectus. As of February 15, 2022, the transaction is approved by Swedish competition authority. Following completion of the Transaction, Electra's shareholders will hold 35 per cent of the shares and votes in the combined group after full dilution and Elon Group Holding 65 per cent of the shares and votes. As a result of the issue in kind, Elon Group Holding will become the largest shareholder in the combined group.

Robert Asplund, Mårten Steen, Erika Svensson, Amanda Sjöberg, Ida Karlsson, Disa Almqvist and Hugo Norlén of Advokatfirman Lindahl acted as the legal advisors to Elon Group whereas Charlotte Levin, Erik Sjöman, Amanda Knutsson and Johan Karlsson of Advokatfirman Vinge KB acted as the legal advisors to Electra Gruppen. Nordea acted as financial advisor to Electra, Nordea team includes Harald Ström ,Andreas Elvelin,David Mårtensson,Jens NystrandKlara WessmanMiikka KujanpääMicael Carlsson Micael Berg Patrik Rämström

Elon Group AB completed the acquisition of Electra Gruppen AB (publ) (OM:ELEC) in a reverse merger transaction on May 19, 2022.