$CURR Huge News ~ Sera Labs, A Leader In The CBD
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Posted On: 08/04/2020 10:10:25 AM
$CURR Huge News ~ Sera Labs, A Leader In The CBD Industry With Proprietary Products And Multi-Channel Distribution Platform, To Be Acquired By CURE Pharmaceutical In A $20 Million Transaction
Privately held Sera Labs, a leading CBD health and wellness company, announced today that it has entered into a Memorandum of Understanding for a 100% acquisition by CURE Pharmaceutical (OTC:CURR), an innovative drug delivery and development company for a total up-front consideration of $20 million, comprising $19 million in CURE stock at a valuation of $2.75 per share, and $1 million in cash, with an initial, additional commitment of $4 million for working capital in support of accelerating Sera Labs' growth. The transaction also includes the potential for an earn out of up to $20 million in CURE stock at a valuation of $3.34 per share within two years of the closing of the acquisition, contingent upon Sera Labs achieving certain key financial targets. The structure of the earn out is designed to align risk and reward between CURE stockholders and Sera Labs' management, with a focus on strong operational alignment and financial execution. The transaction is expected to close, subject to a definitive agreement and customary closing conditions, by the fourth quarter of 2020.
https://www.barchart.com/story/stocks/quotes/...ransaction
Privately held Sera Labs, a leading CBD health and wellness company, announced today that it has entered into a Memorandum of Understanding for a 100% acquisition by CURE Pharmaceutical (OTC:CURR), an innovative drug delivery and development company for a total up-front consideration of $20 million, comprising $19 million in CURE stock at a valuation of $2.75 per share, and $1 million in cash, with an initial, additional commitment of $4 million for working capital in support of accelerating Sera Labs' growth. The transaction also includes the potential for an earn out of up to $20 million in CURE stock at a valuation of $3.34 per share within two years of the closing of the acquisition, contingent upon Sera Labs achieving certain key financial targets. The structure of the earn out is designed to align risk and reward between CURE stockholders and Sera Labs' management, with a focus on strong operational alignment and financial execution. The transaction is expected to close, subject to a definitive agreement and customary closing conditions, by the fourth quarter of 2020.
https://www.barchart.com/story/stocks/quotes/...ransaction
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