Brave Bison Group plc (AIM:BBSN) entered into a binding sale and purchase agreement to acquire Greenlight Digital Limited and Greenlight Commerce Limited for £6.9 million on August 12, 2021. Upon completion Warren Cowan and Andreas Pouros will remain minority shareholders in the enlarged Brave Bison. The Vendors of Greenlight will receive a total net consideration comprising an aggregate of £6.75 million in cash and 6,601,000 new Ordinary Shares at the Placing Price. £6.0m of the Cash Consideration will be payable on completion, together with the issue of the Consideration Shares. £0.75m of the Cash Consideration will be payable in cash six months thereafter. The Acquisition will be funded using £5.8 million in net proceeds from the Placing, a portion of the Company's cash resources and via the issue of the Consideration Shares. In the year ended August 31, 2020, Greenlight generated revenue of £14.3 million and Adjusted EBITDA of £0.8 million. The Placing and the Acquisition are inter conditional, with the Placing conditional upon, inter alia, the passing by Brave Bison shareholders of resolutions at a general meeting of the Company to be held on August 31, 2021. the directors of Brave Bison Group plc recommended in favor of the transaction to the shareholders. The transaction is expected to complete on September 1, 2021. Freeths LLP acted as legal advisor to shareholders of Greenlight Digital Limited and Greenlight Commerce Limited.

Brave Bison Group plc (AIM:BBSN) completed the acquisition of Greenlight Digital Limited and Greenlight Commerce Limited on January 19, 2022. Iain Lownes of Oaklins Smith & Williamson acted as exclusive corporate finance advisor to the sellers.