$25M Deal Adds Humaskan Medical Technology IP to Portfolio
DAVI is trading near its 52-week low of $5.67 (15% below the low).
Summary
Davion Healthcare has completed its acquisition of intellectual property relating to the WoundSkan and Spektra lateral flow test, buying the IP from four holders of Humaskan Medical Technology for $25 million. The consideration comprises $2.5 million in cash and 1.73 million shares to be issued at an agreed fixed contractual value of $13 per share. The deal is sizable relative to a company trading near its 52-week low with a small market cap, so the price and how it's funded matter as much as the assets themselves.
At the time of this announcement, DAVI was trading at $4.80 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $150M. The 52-week trading range was $5.67 to $12.30. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.