Evolear

Purchase Price
The parties have preliminarily agreed on an initial purchase price of SEK 16.0 million for the shares in both Target Companies. The purchase price will be paid through a combination of newly issued shares in the Buyer worth SEK 8.0 million, based on a price of SEK 0.85 per share, and a promissory note of SEK 8.0 million. Some of the shares issued will be subject to lock-up provisions. edyoutec AB shall have the right to request the conversion of the promissory note into shares in edyoutec at an unlimited number of occasions during the term at a price corresponding to the volume-weighted average price for a period of 30 days before the board decides on the conversion.

An additional purchase price may be paid to the Seller 36 months based on the EBITDA of the Target Companies. The maximum additional purchase price will be SEK 8 million, and thus the maximum purchase price for the transaction will be SEK 24 million.

The completion of the transaction is conditional upon edyoutec’s due diligence and the Company and the Seller entering into a final share transfer agreement. The signing of the share transfer agreement and the completion of the transaction are planned for July 2024.

Jesper Nord, CEO, comments:
"We see this potential transaction as aligned with the company's strategy to offer innovative solutions in e-learning and AI education. The sale of MyFirstApp Group S AB and Oy 10Monkeys Ltd enables us to focus even more on developing and delivering high-quality educational platforms that leverage the latest technology in AI."

For more information, please contact:
Jesper Nord, CEO MyFirstApp Sweden AB
Mobile: +4673 329 13 29
Email: jesper@myfirstapp.com

This information is information that MyFirstApp Sweden AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 08:30 (CEST) on June 5, 2024.

MyFirstApp Sweden AB (publ)
The MyFirstApp group is an edtech company offering a wide range of educational games and applications through our brands Evolear, 10Monkeys, TalesTime, and MyFirstApp worldwide. Our commitment is to promote children's learning and development in areas such as mathematics, language, and cognitive skills, by providing fun and interactive tools tailored for different ages and stages of development.