Business
TechCare Announces Agreement for Change of Control
TechCare Announces Agreement for Change of Control.
About this update from Citrine Global Corp.
[{"type":"text","content":"On February 23, 2020, TechCare Corp., a Delaware corporation (the “Company”) and Citrine S A L Investment & Holdings Ltd., a corporation formed under the laws of the state of Israel (“Citrine”), entered into an Amended and Restated Common Stock Purchase Agreement (the “AR Citrine Agreement”) which amended and restated the Common Stock Purchase Agreement dated January 6, 2020 described in the Current Report on Form 8-K filed by the Company on January 9, 2020.Citrine technology investment and finance group empowers high potential businesses for international market breakthrough. The group, which includes Citrine Technology Investment and Holdings Ltd., WealthStone Private Equity, Neto Finance, and other leading partners and consultants from Israel, Europe, USA, China and across the globe, is a meeting point for experienced market leaders from a variety of areas, such as technology, biotech, real estate, financing, banking, management, marketing, patent registration, international mergers and acquisitions, IPOs, and more. With its deep multi-disciplinary expertise, the group is the financing choice of many Israeli high-growth companies and is now expanding its offering globally. The group provides customized alternative financing solutions to growth-stage companies, using a varied set of financing tools, including venture and alternative lending, asset-based, equipment and invoice financing, bridge loans and more. The group’s financial tools support companies’ global growth and consolidation as well as answer companies’ needs for real estate expansion and development, and have seen investments in many technology and biotech companies, among them Nicast, NanoMedic, WellBe, Biocep, Improdia, Intelicanna, IBOT, Cannbit, Dario, Cannabliss, ISB, BSP Medical, and more. The group focuses on high growth technology, health, wellbeing and foodtech companies, addressing global markets worth hundreds of millions of dollars. Citrine is preparing and intends to file an offering prospectus on Form S-1.Pursuant to the AR Citrine Agreement, the Company agreed to sell Citrine, or its group of business partners, up to an aggregate of 893,699,276 shares of the Company’s common stock, representing approximately 95% of the Company’s fully diluted capital, in two tranches, with the initial tranche of up to 452,063,196 shares of the Company’s common s...