Diagnostics company Magnasense has now signed a conditional agreement to carry out a reverse takeover of British artificial intelligence company Subgen. The potential transaction entails Subgen’s owners becoming the majority shareholders of the listed company and assuming control of its operations, as detailed in a press release.
The acquisition will be carried out through a new share issue and values ??Subgen at €200 million. Following the transaction, Subgen’s owners are expected to control approximately 98 percent of the company, while current shareholders, including lender Atlas following the debt conversion, will own the remaining percentage.
The transaction is conditional, among other factors, on approval at an extraordinary general meeting, continued listing on the Nasdaq First North Growth Market, and Magnasense becoming debt-free as agreed between the parties.
Read it here
EN 
ES