Techstep ASA (OB:TECH) entered an agreement to acquire Crypho AS from Karbon Invest AS and others for NOK 10 million on May 6, 2022. Karbon Invest AS has agreed to sell its 33.50% shareholding in Crypho AS and subscribe for 123,579 new shares in Techstep ASA at a price of NOK 3.25 per share. Following completion of the transaction, Karbon Invest AS will hold 21,927,928 shares in Techstep, entailing an increase in ownership to approximately 10.44% stake.

The consideration is fully financed through a combination of share issue, earn-out and debt. Crypho has annual revenues of NOK 1.9 million. As of August 24, 2022.

Regarding the fulfilment of the conditions for the first two tranches of the contingent consideration in the Crypho transaction. The company has now resolved to issue an aggregate of 516,462 new shares (the "Contingent Consideration Shares") to the sellers of Crypho as settlement for the first two tranches of the contingent consideration relating to the acquisition. The Contingent Consideration Shares were issued at a subscription price of NOK 3,2529 per share, which is equal to the 90-Day volume weighted average share price (VWAP) of the Techstep shares.