Reltime As entered into a letter of intent to acquire Bonzun AB (publ) (OM:BONZUN) for approximately SEK 170 million in reverse takeover on May 3, 2024. After the transaction, existing Bonzun shareholders will retain approximately 8-9% of the equity, while Reltime shareholders will hold about 91-92%. Post-acquisition, Bonzun will discontinue its prior operations to fully integrate into Reltime?s business model and technology.

The company will rebrand as Reltime AB (publ). This acquisition will significantly change management team and board compositions to align with strategic goals. Completion of the transaction is conditional upon satisfactory completion of due diligence; Bonzun completing a directed debt set-off issue; an extraordinary general meeting in Bonzun approving the transaction and the other resolutions proposed by the board of directors in the notice to the extraordinary general meeting; Reltime's largest shareholder Julo obtaining an exemption from the mandatory offer that would otherwise arise as a result of the transaction; and Nasdaq Stockholm granting approval for continued listing of the Bonzun shares on First North.

The deal is expected to conclude in Q3 2024. Eversheds Sutherland Advokatbyrå AB acted as Legal Advisor and Eminova Partners Corporate Finance AB acted as financial advisor to Reltime.