Setterwalls has assisted Coala-Life in connection with a reversed acquisition and change of listing venue from Nasdaq Stockholm to Nasdaq First North Growth Market

Setterwalls has assisted Coala-Life AB (“Coala”) in connection with a reversed acquisition and change of listing venue from Nasdaq Stockholm to Nasdaq First North Growth Market. The reversed acquisition was carried out as an issue of new shares against payment in kind through which RNB Retail and Brands AB (“RNB”), listed on Nasdaq Stockholm, acquired all shares in Coala.

The purchase price consisted of newly issued shares in RNB, corresponding to approx. 80 percent of all outstanding shares in RNB, after the new share issue and the set-off issues carried out in connection therewith in order to settle existing debt financing and debts to other creditors. In connection with the transaction, RNB has changed market venue from Nasdaq Stockholm to Nasdaq First North Growth Market, changed its business object, and changed its name to Coala-Life Group AB (publ).

Coala is a Swedish medtech company that develops and markets systems for digital heart and lung diagnostics. Coala’s software platform and hardware are CE and FDA approved and enable long-term monitoring, analysis and algorithm-based diagnosis of the heart and auscultation of the lungs remotely.