Northern Data Group announces closing of Damoon acquisition
FRANKFURT, Germany, Jan. 8, 2024 /PRNewswire/ -- Northern Data AG ('Northern Data Group') (Ticker symbol German stock market: NB2) (ISIN: DE000A0SMU87) today announces the completion of the acquisition of Damoon Limited, formerly Damoon Designated Activity Company ('Damoon')' from Tether Group.
- FRANKFURT, Germany, Jan. 8, 2024 /PRNewswire/ -- Northern Data AG ('Northern Data Group') (Ticker symbol German stock market: NB2) (ISIN: DE000A0SMU87) today announces the completion of the acquisition of Damoon Limited, formerly Damoon Designated Activity Company ('Damoon')' from Tether Group.
- The closing of the transaction now makes Tether Group, one of the world's most successful and innovative blockchain technology companies, the cornerstone shareholder in Northern Data Group.
- Thereby, Northern Data acquired 69.92% of Damoon, as well as 69.92% of the c. EUR 400 million shareholder loan granted to Damoon by Tether Group.
- With the registration of a further increase of its share capital against contribution in kind by EUR 6,556,949 to EUR 48,734,180 on 3 January 2024, Northern Data Group acquired the remaining 30.08% of Damoon and of the shareholder loan granted to Damoon in implementation of the exercise of the call option granted to Northern Data Group in the Investment Agreement, as already announced in September 2023, thereby fully completing the acquisition of Damoon and the shareholder loan granted to Damoon.