The Board of Directors assesses the bid from Velvet Cichlid
Sleep Cycle AB, the leading sleep tracking application and a pioneer in improving global sleep health, has received a public takeover offer from Velvet Cichlid AB. The offer, valued at SEK 42.50 in cash per share, is currently under evaluation by the Board of Directors of Sleep Cycle AB.
Sleep Cycle, listed on Nasdaq Stockholm under the ticker SLEEP, boasts an impressive user base with millions of daily active users and over two billion nights analyzed across more than 150 countries. The application helps users fall asleep more easily, tracks and analyses sleep during the night, wakes the user in a light sleep phase, and provides insight into how sleep quality can be improved.
The mission of Sleep Cycle is to empower people to sleep better, thus contributing to improved global health. The company, based in Gothenburg, Sweden, is also a significant contributor to research and reporting on sleep worldwide, making it one of the most comprehensive sources for statistics on sleep.
Velvet Cichlid AB, pending a name change from Goldcup 32046 AB, has engaged SEB Corporate Finance as the financial advisor for the offer. Mannheimer Swartling has been engaged as the legal advisor.
Lars Berg, the Chairman of the Board, will not participate in the Board's handling of or decisions related to the offer due to a conflict of interest. The Board's opinion regarding the offer will be announced no later than two weeks before the end of the acceptance period, which is expected to be from December 20, 2022, to January 31, 2023, with potential extensions.
For further information, please contact Anne Broeng at [email protected] or 45 2179 5006. The Board of Directors of Sleep Cycle AB will evaluate the offer and announce its decision in due course.
- If the takeover offer from Velvet Cichlid AB is accepted, the business of Sleep Cycle AB, a leading player in the sleep tracking industry, is likely to see a shift in financial management.
- Sleep Cycle AB, with its extensive user base and significant contribution to sleep research and finance, could potentially expand its businesses and influence in the global sleep health industry upon successful evaluation and acceptance of the takeover offer.
