MYSZ - MySize acquires Spain's Naiz Fit

• MySize ( NASDAQ: MYSZ ) has acquired Spain-based Naiz Fit, a provider of SaaS technology solutions that solve size and fit issues for fashion ecommerce companies.
• Naiz Fit's revenues and financial results will be fully integrated into company's consolidated results for Q4 2022.
• Acquisition for $500,000 in cash and 6M shares of stock, and up to an additional $1.55M in future cash based on the achievement of performance-based milestones plus a shortfall payment of ~$450,000 payable in 2026.
• Naiz Fit is expecting an estimated $400,000 in 2022 revenues with substantial increases anticipated for 2023.
• Company expects its combined Naiz Fit and MySizeID sizing solution revenues to contribute an additional $1M revenues in 2023.
• Additional benefits including economies of scale through combined SG&A expenses are expected.

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