Mister Spex GmbH acquired 45% stake in Tribe GmbH from its founding/operating shareholders for 2.8 million .
December 30, 2020
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Mister Spex GmbH signed a share purchase agreement to acquire 45% stake in Tribe GmbH from its founding/operating shareholders for 2.8 million on October 8, 2020. The deal value includes an initial purchase price of approximately 2.3 million, which was paid to the founding/operating shareholders upon closing, and a deferred purchase price amounting to approximately 0.5 million in total, which is payable in three equal installments of approximately 0.1 million per year to each of the two operating/founding shareholders. The initial purchase price at the time of closing was, and the deferred purchase price in the three annual installments will be, paid in cash. Furthermore, Mister Spex GmbH acquired claims vis-à-visTribe under convertible loan agreements from several lenders in the overall amount of approximately 0.3 million. As per terms of transaction, Tribe will continue to operate independently. The purchase price which is to be paid to the founding/operating shareholders, subject to the condition that the founding/operating shareholders have not left Tribe and have met certain milestones, amounts to approximately 2.9 million in total. The founding/operating shareholders are obliged to reinvest the purchase price they receive as consideration for their shares in Tribe into the Company by way of subscription of 229,395 newly
issued shares of the Company at a share price of 1 per share, together with the obligation to contribute their option price receivable.Christian Tönies, Gerald Hermann and Sebastian Gerlinger of P+P Pöllath + Partners
Mister Spex GmbH completed the acquisition of 45% stake in Tribe GmbH from its founding/operating shareholders in October 2020.
Mister Spex SE, formerly Mister Spex AG, is a Germany-based omnichannel optician offering glasses, sunglasses and contact lenses. The Company's online shop and stores offers more than 10,000 models of glasses and sunglasses from over 100 brands, alongside established brands and selected designer brands like Ray-Ban, Calvin Klein, Prada, and Tom Ford, as well as other brands and influencer collaborations including Vasuma, EOE, L.G.R and Akila. Integration of online and offline offers customers the freedom to decide for themselves when, where, and how they shop. It offers 2D/3D (2 dimensional/3 dimensional ) virtual try-ons, an online eye exam and intelligent filter functions. It operates shops in ten European countries: Germany, Austria, Switzerland, UK, Spain, France, Netherlands, Sweden, Norway, Finland serving over five million customers in Europe.