Stillfront Group AB (publ) (OM:SF) entered into an agreement to acquire Jawaker FZ LLC from Mohamad Hasan, Yousef Sham, Media Zone Investments FZ LLC and other sellers for approximately $230 million on September 8, 2021. The purchase price of approximately $230 million will be paid 74% in cash and 26% will be paid in 8,540,092 newly issued shares in Stillfront. Furthermore, certain sellers may receive an earn-out payment of up to $20 million in cash, if Jawaker reaches certain EBIT targets for 2021 and additional earn-out purchase price payments corresponding to 1.0x EBIT for each of the financial years 2022 to 2026 generated in the ordinary course of business during each of those years, payable 70% in cash and 30% in newly issued shares in Stillfront. To finance a part of the transaction, Stillfront's has decided to raise additional equity through a directed share issue of $116 million. The founders and other key employees will remain within Jawaker and be part of the management of Jawaker post-completion of the transaction. The transaction is subject to customary completion conditions and expected to complete on October 4, 2021. DLA Piper UK LLP is legal advisor and EY is financial and tax due diligence advisor for Stillfront in connection with the transaction. Latham Watkins is legal advisor and Aream & Co is financial advisor to the sellers in connection with the transaction.

Stillfront Group AB (publ) (OM:SF) completed the acquisition of Jawaker FZ LLC from Mohamad Hasan, Yousef Sham, Media Zone Investments FZ LLC and other sellers on October 4, 2021. All other conditions for completion have now been fulfilled.