According to Alternatives.pe - Nanoveu (NVU) acquired Spinoff Robotics for a consideration of 3 million fully paid NVU shares to be issued at a deemed issue price equal to the VWAP of shares on the ASX over the 10 trading days immediately preceding the settlement date subject to 12 months escrow. Additionally, Nanoveu could also issue 4 million NVU performance rights, which will convert into NVU Shares subject to achievement of performance milestones.
If true, this means that the exit is ~AUD$150K, with additional rights to be converted into shares.
Undisclosed exits are rarely huge. ASX is hardly the place for huge acquisitions. But an exit is an exit, and that's a validation of sorts in these early days. Clearly not the final goal.
According to Alternatives.pe - Nanoveu (NVU) acquired Spinoff Robotics for a consideration of 3 million fully paid NVU shares to be issued at a deemed issue price equal to the VWAP of shares on the ASX over the 10 trading days immediately preceding the settlement date subject to 12 months escrow. Additionally, Nanoveu could also issue 4 million NVU performance rights, which will convert into NVU Shares subject to achievement of performance milestones.
If true, this means that the exit is ~AUD$150K, with additional rights to be converted into shares.
Not exactly the landmark exit being touted.
Undisclosed exits are rarely huge. ASX is hardly the place for huge acquisitions. But an exit is an exit, and that's a validation of sorts in these early days. Clearly not the final goal.