Directors are assessing the proposal put forward by Velvet Cichlid
Sleep Cycle AB, the leading sleep tracking application with a global presence in over 150 countries, has received a takeover offer from Velvet Cichlid AB. The application, known for helping millions of people understand their sleep habits and improve their sleep, is listed on Nasdaq Stockholm under the ticker SLEEP.
The offer price for each share is set at SEK 42.50 in cash, according to the information available. SEB Corporate Finance has been engaged as financial advisor for the offer, while Mannheimer Swartling serves as legal advisor.
Sleep Cycle's office is located in Gothenburg, Sweden, where it contributes to research and reporting on sleep worldwide. The company has over two billion nights of sleep data analyzed, making it one of the world's most comprehensive sources for statistics on sleep.
The Board of Directors of Sleep Cycle, including Chairman of the Board Lars Berg, will evaluate the offer. However, Berg will not participate in the Board's handling or decisions related to the offer due to a conflict of interest. The Board is expected to announce its opinion no later than two weeks before the end of the acceptance period.
The acceptance period for the offer is expected to be from 20 December 2022 to around 31 January 2023, subject to extensions. The companies involved in the takeover offer, apart from Velvet Cichlid AB, are Slitevind AB and SLR Group GmbH.
Pending name change from Goldcup 32046 AB, Sleep Cycle's mission remains to improve global health by empowering people to sleep better. The mobile application, available on various platforms, helps users fall asleep more easily, tracks and analyzes sleep during the night, wakes the user in a light sleep phase, and provides insight into how sleep quality is best improved.
Further details about the takeover offer, including the proposed price per share by Velvet Cichlid AB, could not be found in the provided search results.
- The takeover offer from Velvet Cichlid AB, Slitevind AB, and SLR Group GmbH poses an opportunity for a significant shift in the industry, given Sleep Cycle's presence in the finance sector, especially with its shares trading on Nasdaq Stockholm.
- As Sleep Cycle AB continues its mission to enhance global health through better sleep, its valuable business insights and research on sleep worldwide may attract increased interest from financial investors within the healthcare industry.