Sidetrade and SHS Viveon AG agree public tender offer for SHS Viveon AG
· *A friendly public tender offer with premium on the SHS Viveon AG shares*
· *Tender offer price: €3.00 per SHS Viveon AG share in cash*
· *Tender offer deadline: June 17, 2024*
· *Post-delisting: No open market for SHS Viveon AG shares*
*Sidetrade**, the global leader in AI-powered Order-to-Cash applications, today announces its intention to acquire SHS Viveon AG, a German leader in credit risk management software, following an agreement made with its supervisory board. The public tender offer is scheduled for Tuesday May 7, 2024, with plans to subsequently delist SHS Viveon AG’s shares.*
Following the execution of binding agreements with shareholders of SHS Viveon AG to acquire shares at a price of €3.00 each, as announced in the April 16, 2024 press release, Sidetrade has secured 1,702,407 shares, representing 68.4% of SHS Viveon AG’s outstanding share capital as follows:
· 43.0% of the SHS Viveon shares already acquired.
· 5.7% of the SHS Viveon shares set to be acquired in the coming days.
· 19.7% of the SHS Viveon shares to be acquired at subsequent dates at the latest in July 2024.
Sidetrade plans to open its public tender offer on May 7, 2024, to acquire the remaining shares of SHS Viveon AG at €3.00 per share in cash, representing a 53% premium over the 1-year VWAP (Volume-weighted average price) of SHS Viveon AG (€1.96 per share) as of April 15, 2024.
SHS Viveon AG's supervisory board signed a business combination agreement with Sidetrade on May 1, 2024, and supports Sidetrade’s take-over plans.
*Planned milestones for Sidetrade's acquisition of SHS Viveon AG*
May 6, 2024 Tender offer posted in the Federal Gazette
May 7, 2024 Tender offer opens
May 9, 2024 Delisting of SHS Viveon AG proposed to the Munich Stock Exchange
June 17, 2024 Tender offer closes
The tender offer is not subject to reaching a minimum acceptance threshold.
The tender offer documentation will be available in German and in English on May 6, 2024 on www.sidetrade.com. Copies of the German language binding document may be obtained by email at uebernahmeangebot@oddo-bhf.com.
Certain SHS Viveon AG’s shareholders entered into a binding agreement with Sidetrade to transfer 19.7% of their shares at subsequent dates at the latest in July 2024.
Upon completing these acquisitions, Sidetrade will become the majority shareholder and assume control of SHS Viveon AG. Sidetrade will support the delisting of SHS Viveon AG’s shares from the open market m:access of the Munich stock exchange. Post delisting, SHS Viveon AG shares will not trade anymore in Germany (either Frankfurt or Munich).
Sidetrade is assisted by King & Spalding LLP as legal advisor on the transaction and ODDO BHF SE as financial advisor.
*About SHS Viveon AG, a German leader in credit risk & compliance management software applications*
Founded in 1991 and headquartered in Munich, Germany, SHS Viveon AG offers applications designed to enable risk, credit, and compliance management teams to automatically identify, assess, and hedge risks in a flexible, digital process. It simplifies access to all relevant data from any system, improves analysis and simulation, and enables better business decisions.
In 2023, SHS Viveon AG reported revenues of €8.8 million. SHS Viveon AG’s customer portfolio currently comprises 80 businesses including Fortune 100 companies.
*Sidetrade contacts*
*Investor relations*
Christelle Dhrif 00 33 6 10 46 72 00 cdhrif@sidetrade.com
*Media relations*
Becca Parlby 00 44 7824 5055 84 bparlby@sidetrade.com
*About Sidetrade** (**www.sidetrade.com**)*
Sidetrade (Euronext Growth: ALBFR.PA) provides a SaaS platform dedicated to securing and accelerating cash flow. Sidetrade’s next-generation AI, nicknamed Aimie, analyzes $6.1 trillion worth of B2B payment transactions daily in the Sidetrade Cloud to predict customer payment behavior and the attrition risk of more than 38 million buyers worldwide. Aimie recommends the best operational strategies, intelligently automates actions on the entire Order-to-Cash process, and dematerializes customer transactions to enhance productivity, performance, and working capital improvements.
Sidetrade has a global reach, with 315+ talented employees based in Paris, London, Birmingham, Dublin, Houston, and Calgary, serving global businesses in more than 85 countries. Amongst them: Bidcorp, Biffa, Bunzl, Contentsquare, Engie, Expedia, Inmarsat, KPMG, Lafarge, Manpower, Opentext, Page, Randstad, Saint-Gobain, Securitas, Sodexo, Tech Data, UGI, Veolia.
Sidetrade is a participant of the United Nations Global Compact and adheres to its principles-based approach to responsible business.
For further information, visit us at www.sidetrade.com and follow us on X @Sidetrade.
In the event of any discrepancy between the French and English versions of this press release, only the English version is to be taken into account.
*Attachment*
· Sidetrade and SHS Viveon AG agree public tender offer for SHS Viveon AG