SPENN Technology A/S agreed to acquire a 15.95% stake in Norwegian Block Exchange AS from Observatoriet Invest As for NOK 33.9 million.

SPENN Technology A/S agreed to acquire a 15.95% stake in Norwegian Block Exchange AS from Observatoriet Invest As for NOK 33.9 million on May 22, 2023. The share price for NBX is set at NOK 1.96 per share. The transaction is expected to be completed by June 15, 2023.

On August 1, 2023, SPENN was refused by the Norwegian Financial Supervisory Authority. As a result of the refusal, SPENN Technology has sought alternative solutions in collaboration with Observatoriet AS but has not completed the transaction, Baker Tilly Corporate Finance P/S acted as financial advisor to SPENN Technology A/S