Shareholders in the Danish SaaS company Relesys A/S (“Relesys”) have entered into a binding agreement with Unite BidCo ApS, a company controlled by Copilot Capital Limited (“Copilot”), to acquire all outstanding shares in the company at a price of DKK 6.60 per share. This equals a premium of 37% over the share price on the day before Relesys announced its plans for a strategic review of the company’s future growth opportunities.
Shareholders in Relesys representing approx. 93.5% of the share capital in total have entered into a binding agreement with Unite BidCo ApS to sell their shares, including CEO Jesper Roesgaard, COO Jens Ole Lebeck and CTO Martin Sørensen, who own a total of 73.2% of the share capital. All three will reinvest more than half of their proceeds in the new company.
Relesys has developed a platform enabling companies to engage their employees through an app and was listed on Nasdaq First North Premier in 2021 with assistance from Accura. Since then, their revenue has grown by 65%, and the number of users has reached almost 400,000. The agreement with Copilot is meant to ensure the continued growth of the company.
When the transactions have been realised, Unite BidCo ApS will own more than 90% of the shares and voting rights in Relesys. Relesys is expected to request Nasdaq Copenhagen for delisting from Nasdaq First North Premier Growth Market, which is expected to take place within two to three weeks. In connection with this, BidCo ApS is expected to initiate a compulsory redemption process for remaining shareholders.
Accura advised Relesys in connection with the transaction.