ZignSec AB (publ) (OM:ZIGN) entered in an agreement to acquire Web Shield Limited for EUR 28 million on June 9, 2021. The consideration includes The Upfront Consideration of EUR 20 million is paid with EUR 10 million cash and EUR 10 million is paid with newly issued ZignSec shares. The Consideration Shares are issued at SEK 24.52 per share, equal to the VWAP on Nasdaq First North Growth Market for the ten consecutive trading days preceding this announcement (excluding today's trading). 25 percent of the Consideration Shares will be subject to a 3-month lock-up and 75 percent will be subject to an 18-month lock-up, all from the date of signing the transaction. Furthermore, the sellers are entitled to a Deferred Consideration of up to EUR 8 million. The Deferred Consideration shall be paid within one month of Web Shield having completed the audited financial statements for the year 2021, but no later than September 1, 2022, and will be paid at 50 percent with cash and at 50 percent with shares. The subscription price for the Deferred Consideration Shares shall correspond to the VWAP for ZignSec's shares on the Nasdaq First North Growth Market during the 10 consecutive trading days prior to the issue of the Deferred Consideration Shares. The Deferred Consideration Shares will be subject to a one-year lock-up from the issue date. As part of the acquisition ZignSec will acquire subsidiaries Web Shield Services GmbH, Web Shield Services Polska sp.z.o.o and 50% of Web Shield Legal Services sp.z..o.o. ZignSec AB intents to carry out a directed share issue through an accelerated book building process. ZignSec has mandated Vator Securities to evaluate the possibility to carry out the Directed Issue. The purpose of the Directed Issue is mainly to finance the acquisition of Web Shield Limited as well as to finance the Company's operations in accordance with the Company's communicated strategy. In 2020, Web Shield had approximately EUR 4.6 million in total revenue. Closing of the transaction are subject to customary conditions including foreign investment approval, and closing is expected to take place during Q3 2021. Eversheds Sutherland is acting as legal advisor to ZignSec in this transaction. ZignSec AB (publ) (OM:ZIGN) completed the acquisition of Web Shield Limited on July 2, 2021. The purchase price was paid partly by 4,109,094 shares in ZignSec and partly by a cash payment of EUR 10 million. Upon completion of the Transaction the sellers of Web Shield will own approximately 12.2 percent of the total number of shares and votes in ZignSec. 25 percent of the Consideration Shares will be subject to a 3-month lock-up period and 75 percent are subject to an 18-month lock-up period from the date of signing the transaction.