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Univest Securities, LLC. Announces Closing of Somulation, Inc. Acquisition and $7 Million Private Placement for its Client Marizyme, Inc. (OTC: MRZM)
Univest Securities, LLC. Announces Closing of Somulation, Inc. Acquisition and $7 Million Private Placement for its Client Marizyme, Inc. (OTC: MRZM).
About this update from Marizyme, Inc.
[{"type":"text","content":"\n New York, Sept. 29, 2020 (GLOBE NEWSWIRE) -- Univest Securities, LLC, a member of FINRA and SIPC, is a full-service investment bank and securities broker-dealer firm based in New York, today announced the closing for the acquisition of Somulation, Inc. by its client Marizyme, Inc. (OTC:MRZM) (“Marizyme” or the “Company”), and closing of the private placement for $7,000,240 to which Univest Securities, LLC. acted as the exclusive investment bank and sole-placement agent. Marizyme has completed the acquisition of Somahlution, Inc. and all of Somahlution, LLC assets including their DuraGraft® intellectual property, Somaceutica intellectual property and derivative works. DuraGraft is a CE-marked and patented product that protects vascular grafts against ischemic injury and is the only product registered and indicated for graft protection and preservation during bypass and other vascular surgeries including Coronary Artery Bypass Graft (CABG) and Peripheral Bypass surgery. Marizyme has issued 10 million shares of restricted common stock to the Somahlutions shareholders and a warrant to purchase 3 million shares of restricted common stock at a strike price of $5 per share. After the acquisition, Dr. Satish Chandra will be joining Marizyme as President and COO and Dr. Catherine Pachuk will be joining as Chief Science Officer. In addition, Univest Securities, LLC was able to raise in a private placement offering with common shares only for Marizyme a total of 5,600,192 shares at $1.25 per share representing $7,000,240 in gross proceeds before fees and expenses were sold in this offering. Marizyme plans to use the proceeds to expand sales of DuraGraft in Europe and to begin to seek US FDA approval in the United States. Mr. Edric Yi Guo, Director of Investment Banking of Univest Securities, commented, “We are very grateful to the Marizyme team for trusting us and launching this project in an unprecedented time for all of us. We are also pleased that we can deliver the value we promised and was able to complete this private placement in this manner and on time. It is another important step for Univest to build our brand as a fundamental-driven, adventurous bank who doesn’t shy away from heavy lifting situations and getting hands on with our clients in order to deliver value. We believe the Compan...