Investor completes 10 MEUR Capital Injection into STRAX European Distribution and New Logistics Deals Secured

STOCKHOLM, SE / ACCESSWIRE / September 15, 2023 / STRAX (STO:STRAX)(FRA:NOBC)

Pursuant to the investment agreement announced on July 13, 2023, STRAX announces the completion of the MEUR 10 share capital increase from ZEBRA Invest GmbH, a German based investment company, for 50.1 percent ownership of its European based distribution business.
The transaction was subject to customary closing conditions and those conditions were met and the investment completed.

STRAX distribution has furthermore secured new business within logistics and fulfilment, which will make the company less mobile accessories industry dependent moving forward.

"The partnership with ZEBRA has started in a very positive way. We are already working on sizable logistics deals where our supply chain expertise has been leveraged and we are actively pursuing new opportunities within the broad ZEBRA network. We see a good value potential for the 49.9 percent minority interest STRAX AB maintains in the European distribution business" says Gudmundur Palmason, CEO, Strax Group.

For further information please contact:

Gudmundur Palmason
CEO, STRAX AB, [phone]

About STRAX

STRAX is a global leader in accessories that empower mobile lifestyles. Our portfolio of branded accessories covers all major mobile accessory categories: Protection, Power, Connectivity, as well as Personal Audio.
Own brands are Urbanista, Clckr, Planet Buddies and Richmond Finch. Our distribution business reaches a broad customer base, through 70 000 brick and mortar stores around the globe, as well as through online marketplaces and direct-to-consumers. Our distribution business also services over 40 other major mobile accessory brands.

Founded as a trading company in 1995, STRAX has since expanded worldwide and evolved into a global brand and distribution business. Today we have over 200 employees in 13 countries. STRAX is listed on the Nasdaq Stockholm stock exchange.

Discontinued operations include Health & Wellness, own brands Dóttir and grell, and licenced brand portfolio of adidas and Diesel.

This information is information that STRAX is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2023-09-15 15:00 CEST.

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Investor completes 10 MEUR capital injection into STRAX European distribution and new logistics deals secured

SOURCE: STRAX

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The Strax Stock at the time of publication of the news with a raise of +0,74 % to 0,082EUR on Frankfurt stock exchange (15. September 2023, 08:39 Uhr).