Raytelligence AB has signed a letter of intent to divest its projects.
Raytelligence AB (publ) ("RAYTEL") has signed a letter of intent to divest the Eazense ONE and Inno-X™ projects at a value of USD 450,000 (equivalent to SEK 4.8 million), which exceeds book values. The purchaser is Wearable Health Solutions, Inc. ("WHSI"). Upon the sale of the assets, the transfer is expected to take place in mid-June 2024.
This information is information that Raytelligence AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, 15 May 2024, at 12:00 CEST.
This press release has been published in Swedish and English. In the event of any discrepancy between the language versions, the Swedish-language version shall prevail.
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The Raytelligence Board of Directors is evaluating options to increase shareholder value. These options include potential merger and reverse acquisition strategies.
The company's key strategy involves identifying and finalizing a combination with a business in sectors such as automotive, financial services, food technology, healthcare, cutting-edge technology, and media within Europe and Asia. Such a partnership should benefit from the extensive experience and operational capabilities of our management team. However, the company reserves the right to pursue an acquisition opportunity in any business sector or industry.