Directors Deliberate on Velvet Cichlid's Proposed Deal
In a significant development, Velvet Cichlid AB has made a public takeover offer for Sleep Cycle AB (publ), the leading sleep tracking application with millions of daily active users worldwide. The details of the offer, such as the price and timeline, are yet to be disclosed, but it is expected that the acceptance period will be from around 20 December 2022 to around 31 January 2023, with potential extensions.
Sleep Cycle, listed on Nasdaq Stockholm under the ticker SLEEP, is headquartered in Gothenburg, Sweden. The company's mission is to improve global health by empowering people to sleep better, and it is one of the world's most comprehensive sources for statistics on sleep.
The mobile application helps users fall asleep more easily, track and analyze sleep during the night, wake in a light sleep phase, and provides insight into how sleep quality can be improved. Sleep Cycle's operations continue independently, focusing on improving sleep health and contributing to sleep research.
The Board of Directors of Sleep Cycle will evaluate the offer, with SEB Corporate Finance and Mannheimer Swartling acting as financial and legal advisors, respectively. Notably, Lars Berg, the Chairman of the Board, will not participate in the Board's handling of or decisions related to the Offer due to a conflict of interest.
Velvet Cichlid AB has engaged the law firm Vinge for advice in this transaction. The pending name change of Sleep Cycle from Goldcup 32046 AB is not related to the Velvet Cichlid takeover offer. For further information, contact Anne Broeng at [email protected] or 45 2179 5006.
As of now, the Sleep Cycle Board of Directors has not made a formal decision regarding the Velvet Cichlid takeover offer. The Board's opinion regarding the Offer will be announced no later than two weeks before the end of the acceptance period.
[1] Source: Various online search results, as of early July 2025. For precise details such as the offer price, acceptance period, and conditions, typically these are disclosed in official takeover offer documents or press releases from the companies or their advisors. Obtaining the full offer details would likely require consulting the official filings or announcements on corporate registries or the companies’ investor relations websites.
[1] This potential acquisition could significantly impact the finance industry, as Velvet Cichlid AB's takeover offer for Sleep Cycle AB (publ) might shake up the business landscape of the health tech sector.
[2] The successful integration of Sleep Cycle AB, a listed company headquartered in Gothenburg, Sweden, into Velvet Cichlid AB's operations could have far-reaching effects on the financing and development of innovative sleep tracking solutions.
