Chosa ApS entered into an agreement to acquire RhoVac AB (NGM:RHOVAC) from M2 Asset Management AB (publ) and others in a reverse merger transaction for SEK 30.4 million on December 5, 2022. The purchase price will be paid through 43,727,531 newly issued shares in RhoVac. Following the transaction, Chosa will jointly hold approximately 69.7% of the shares in RhoVac and the current shareholders in RhoVac will thus jointly hold approximately 30.3%. Pursuant to transaction, RhoVac will change its name to Chosa Oncology AB (publ) and continue Chosa's business as a listed company on Spotlight Stock Market (“Spotlight”), after the approval process with Spotlight has been completed.

The acquisition is conditional upon approval from the extraordinary general meeting in the RhoVac to be held on January 11, 2023 and also conditional upon completion of the investment agreements in Chosa. M2 Asset Management AB, the largest shareholder in RhoVac holding approximately 20.4% of the total number of shares and votes in RhoVac, has undertaken to vote in favor of the transaction and the related resolutions at the EGM. The transaction is expected to close in the second half of January 2023.

Västra Hamnen Corporate Finance AB has provided fairness opinion to the Board of RhoVac.

Chosa ApS completed the acquisition of RhoVac AB (NGM:RHOVAC) from M2 Asset Management AB (publ) and others in a reverse merger transaction on January 18, 2023.