(Alliance News) - Pattern Spa announced Wednesday that it has finalized the acquisition of 30 percent of Dyloan Bond Factory Srl, a subsidiary in which Pattern already held 70 percent.

The agreed lump sum price is EUR4.0 million, based on Dyloan's valuation under the 2022 investment agreement.

In addition, subject to the closing of the transaction, the parties have agreed to permanently waive the price adjustment mechanism under the 2022 investment agreement and that Anna Maria di Rienzo will permanently waive the additional earn-out amounts under the agreement.

Dyloan Bond Factory, established in 1987 in Abruzzo, Italy, is a leading R&D, Engineering, Prototyping, Sampling, Customization and Manufacturing company for semi-finished products, accessories, fabrics, high-tech processing and finished garments.

Pattern's stock closed Wednesday up 2.7 percent to EUR7.65 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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