Maps S.p.A. (BIT:MAPS) entered into a binding agreement to acquire Iasi S.R.L. for €4.9 million on July 20, 2021. The agreement provides for the purchase by Maps Healthcare of 82.97% of the share capital of Iasi from the selling shareholders, at a total price of €4,383,387. Contribution by the selling shareholders of a 17.03% stake through the subscription of up to 206,422 newly issued MAPS shares at a price of €4.36 per share for a total of €900,000.

Founders of Iasi, who will remain managers and become shareholders of Maps. The agreement provides that the Complete Shareholders' Meeting of Iasi will be held at the Closing, after having acknowledged the resignation of Cristiano Colaluca, Luigi Ambrosini and Maurizio Bonatti from the position of Directors, will appoint the new members of Iasi's management body. In 2020, Iasi reported revenues of €3.2 million, adjusted EBITDA of €0.9 million and Net Financial Debt of €-0.1 million.

The transaction is subject to satisfaction of a series of conditions precedent. The completion of the transaction is expected to take place no later than 30 July 2021. For the legal aspects of the transaction, MAPS was assisted by STARCLEX - Studio Legale Associato, with a team coordinated by managing partner Carlo Riganti.

Thymos Business & Consulting S.R.L. assisted Maps S.p.A. as financial advisor. The sellers were assisted in the transaction by Studio Chiodi e Tancredi of Teramo.