Lexibook Signs Investment Agreement for Takeover Bid at €4.00 per Share

On July 19, 2024, Lexibook announced an investment agreement between its founders, the Le Cottier family, and Lawrence Rosen LLC. This agreement will lead to a voluntary public tender offer at €4.00 per share, to be filed by the beginning of Q4 2024. The bid is aimed at consolidating the founders' stake and welcoming Lawrence Rosen LLC as a new shareholder.

The proposed takeover bid offers a premium of 18.34% over Lexibook's closing share price on July 18, 2024, and 32.33% over the volume-weighted average price of the last 20 trading days. The agreement stipulates that, if successful, 56% of Lexibook's share capital will be held by the founders and 44% by Lawrence Rosen LLC. The financing involves a capital increase and convertible bonds issued by the offeror, along with debt.

An ad hoc committee, led by Luc Le Cottier and two independent members, has appointed Sorgem Evaluation to assess the financial terms of the public offer. Trading of Lexibook shares will resume on July 22, 2024. Gilbert Dupont and Société Générale are acting as financial advisor and presenting bank, respectively.