Sale of Stock Ownership
In a significant development, Sleep Cycle AB, the leading sleep tracker application used in over 150 countries, has witnessed a major share divestment. On September 8, 2022, 603,023 shares of Sleep Cycle AB were sold, representing 3.0% of the company's shares and votes.
The sellers included Carl Johan Hederoth, the CEO of Sleep Cycle, and other employees who had subscribed for shares when a subscription warrant program from 2019 expired. Carl Johan Hederoth, in a statement, affirmed that his belief in Sleep Cycle and his long-term confidence in the company have not wavered. He sold 150,000 shares to repay loans taken to subscribe for shares. Before the warrant program expired, Mr. Hederoth held 24,500 shares, and after the transaction, he now holds 79,572 shares and 404,749 subscription warrants.
The head office of Sleep Cycle is located in Gothenburg, Sweden. The company's mission remains steadfast: to improve global health by empowering people to sleep better. Sleep Cycle's data, gathered from over 400 million nights of sleep, has been instrumental in contributing to sleep research with renowned universities and research facilities worldwide.
Sleep Cycle is listed on Nasdaq Stockholm under the ticker SLEEP. For media inquiries, Malin Abrahamsson, the Head of PR at Sleep Cycle, can be reached at press@our website or by phone at +46 73 972 6424. Per Andersson, the CFO and Head of Investor Relations, can be contacted at per.andersson@our website or by phone at +46 70 939 5327.
While the three institutional investors that purchased the shares following the divestment on September 8, 2022, are not specified in the available sources, this information may be found in official company filings, press releases from Sleep Cycle AB, or financial databases tracking institutional ownership changes.
Despite this divestment, Sleep Cycle continues to be the world's most comprehensive source for sleep statistics, regularly featured in notable media outlets and releasing Sleep Reports. The company's commitment to its mission and its impact on global sleep health remain undiminished.
In an unexpected financial move, Carl Johan Hederoth, the CEO of Sleep Cycle AB, used a portion of his sold sleep tracker app shares to repay loans for previously subscribed shares, demonstrating his unwavering belief in the company's future. While new investors of Sleep Cycle are yet to be publicly identified, financial databases may provide such information. Despite the divestment, Sleep Cycle remains committed to its mission of improving global health through better sleep statistics and research collaborations.
