$PBIO Pressure BioSciences Announces Closing of Un
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https://www.globenewswire.com/news-release/20...Sales.html
SOUTH EASTON, Mass., Jan. 22, 2024 (GLOBE NEWSWIRE) -- Pressure BioSciences, Inc. (OTCQB: PBIO) (“PBIO” or the “Company”), a pioneer in the development and distribution of broadly enabling pressure-based instruments, consumables, and specialty process development and testing services across global industries, including nutraceuticals, food and beverage, health and wellness, cosmetics, biotherapeutics, and more, today announced the closing of its acquisition of natural health and wellness leader Uncle Bud’s (“UB”) in an all-stock transaction. Incorporating UB’s 70+ already popular products, 865K member on-line community, existing sales channels online and with leading large retailers, enviable celebrity spokesperson relationships, and invaluable experience building successful consumer products businesses, PBIO will leverage and integrate the Company’s revolutionary UltraShear™ technology (UltraShear™ or UST™) platform for further improved nanoemulsified products that deliver industry-leading speed of action, effective dosing payload delivery, and long-term stability. With these unique product improvement and differentiation capabilities, PBIO intends to redefine the basis of competition in multiple major market sectors, and to become a leading provider of topicals and other consumer products.
Transaction Terms
Under the terms of the transaction, PBIO acquired all assets and assumed selected liabilities of UB. In addition, the parties agreed to an earnout for additional shares of PBIO Common Stock based on the achievement of revenue and pre-tax income results in 2024. Upon closing, all employees of UB became employees of PBIO and UB became the Consumer Products Business Unit of PBIO. More definitive transaction terms will be included in the Company’s upcoming SEC filings.
Significance of the Transaction
The transaction is expected to be immediately accretive and a major accelerator to PBIO’s top line revenue growth.
The combined companies will be ideally positioned to attract new growth investment, rapidly strengthen their balance sheet, accelerate PBIO’s path to profitability in 2024, and catalyze our drive to uplist to NASDAQ/NYSE.
The co-founders/senior management of UB are experts in branding, celebrity spokesperson management, and online and retail multimedia marketing.
UB will rapidly incorporate PBIO’s best-in-class Nano-CBD into their already highly renowned and successful CBD products, for new market breakaway potential!
Senior management of UB and PBIO are already planning a dozen new products that they believe could be formulated and released in 2024, just using PBIO’s existing UltraShear processed Nano CBD.
UB markets and sells many products in the health & wellness area that are unrelated to Hemp and CBD.
UB has an ongoing partnership with multi-Grammy award-winning Toni Braxton as a highly successful marketing ambassador – and Toni has announced that she is excited to continue as a PBIO/UB spokesperson going forward.
UB has been featured, as well as their hemp and CBD products, in an extensive variety of high profile news outlets and magazines online over the past several years: https://www.unclebudshemp.com/press/.
Expected Financial Impact
PBIO’s President and CEO, Richard T. Schumacher, summarized: “This transaction combines the existing momentum and ready market execution power of Uncle Bud’s with the pivotal scientific and product breakthrough of the UltraShear nanoemulsions processing platform for record-setting product performance and long-term stability. In 2024 alone, we are forecasting a 5-fold leap forward in PBIO revenues to over $10 million, but this is only a steppingstone towards revolutionary impact and sales growth that we expect to achieve across the nutraceuticals, cosmeceuticals, skincare, food/beverage, agrochemical, and other major markets in the following years.”
Jeffrey N. Peterson, PBIO’s Chairman, added: “Our Board and leadership team have carefully sought out this strategic combination of Uncle Bud’s marketing skill and power to combine with PBIO’s world class scientific innovation team. Specifically, this positions PBIO with a fast forward integration capability that will allow us to selectively set the timing and drive the pace of revolutionary change across multiple major markets. This rapid growth engine provides a central platform to leverage new growth capital, restructure and strengthen our balance sheet, and complete our drive to uplist to a national stock exchange in 2024.”
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