PTA-Adhoc: iQ International AG: IQ International AG signs non-binding term sheet with Antarctica re Sale of iQ Power

Friday, 30. July 2021 22:45

Public disclosure of inside information according to article 17 MAR

Zug, Switzerland, 30 July 2021 (pta058/30.07.2021/22:45) - iQ International ("iQ") has signed an indicative term sheet with Antarctica Battery, Materials and Storage LLC, USA ("Antarctica"), an affiliate of Antarctica Capital, USA, pursuant to which Antarctica proposes to acquire all the battery and mobility assets, IP, and related business activities, including SIA, of iQ's wholly owned subsidiary iQ Power AG ("iQ Power"). This contemplated sale represents a major part of iQ's current business, and it is envisaged that iQ receives a purchase price of approx. USD 40 million from Antartica. The current timetable foresees a finalization of such sale after the effectiveness of the forthcoming amalgamation with Terrascale. The parties aim at agreeing on the terms of a final binding agreement by the end of September.

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emitter: iQ International AG
address: Landis + Gyr Strasse 1, 6300 Zug
country: Switzerland
contact person: Eva Reuter
phone: +41 41 768 03 63
e-mail: ereuter@dr-reuter.eu
website: www.iqinternational.com

ISIN(s): CH0451424300 (share)
stock exchanges: regulated market in Frankfurt; open market in Berlin

[ source: http://www.pressetext.com/news/20210730058 ]

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