Invent Medic Sweden AB (publ) (NGM:IMS) entered into an agreement to acquire Flowcup AB for approximately SEK 5 million on December 29, 2022. The purchase price is paid through a cash payment of SEK 0.4 million and the remainder with newly issued shares in Invent Medic. Invent Medic is carrying out, in combination with the acquisition of FlowCup, a targeted share issue of approximately SEK 2.6 million to a few selected parties.

This, in combination with taking out loans from ALMI Företagspartner Skåne AB of SEK 1 million and Lubrica Equity AB of SEK 1 million, is expected to finance Invent Medic until positive cash flow. The acquisition of FlowCup is conditional on the shareholders of Invent Medic approving the directed share issue and to authorize the Receipt Issue. Through the acquisition, FlowCup's founder Diana Lidforsen will become one of Invent Medic's major shareholders with a holding of approximately 12.63%.

Diana will enter into a 12-month lock-up agreement for 85% of its holding, effective from the acquisition date. The transaction is expected to close on January 24, 2024. Klara Stock Market Adviser AB acted as legal advisor to Invent Medic on the transaction.