Orn Software Holding AS (OB:ORN) completed the acquisition of Rapal Oy from owners.
Orn Software Holding AS (OB:ORN) completed the acquisition of Rapal Oy from owners on July 9, 2021. The purchase price in the transaction was settled with cash, issuance of new shares in the Company and a deferred earn-out payment (that may become payable upon satisfaction upon certain conditions). To ensure delivery of the new shares to the sellers of Rapal, the Board of Directors has, pursuant to an authorization granted by the Company's general meeting, resolved to increase the share capital with NOK 646,298 through the issuance of 6,462,980 new shares, each share with a par value of NOK 0.10. The earn-out related to the acquisition of Rapal Oy has been met in full, resulting in the payment of the earn-out consideration of EUR 2.4 million in April 2022. During March 2022 the conditions for the earn-out related to the acquisition of Rapal Oy have been met in full, resulting in an earn-out consideration of EUR 2.4 million to be paid in March 2022.