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PRINCIPAL TECHNOLOGIES ANNOUNCES FUNDAMENTAL ACQUISITION OF VIVOSTAT A/S
PRINCIPAL TECHNOLOGIES ANNOUNCES FUNDAMENTAL ACQUISITION OF VIVOSTAT A/S Canada NewsWir...
About this update from Principal Technologies, Inc.
[{"type":"text","content":"\n \n \n \n PRINCIPAL TECHNOLOGIES ANNOUNCES FUNDAMENTAL ACQUISITION OF VIVOSTAT A/S\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n /Not for distribution to U.S. news wire services or for dissemination in\n \n the United States\n \n /\n \n \n \n \n \n Binding Share Purchase Agreement to purchase 100% of\n \n Denmark\n \n -based Vivostat A/S (\"\n \n Vivostat\n \n \").\n \n \n Vivostat has a unique system for on-site preparation and application of autologous concentrated fibrin and platelet enriched fibrin sealants for use in post-surgical procedures.\n \n \n Used in over 200,000 surgical procedures, Vivostat's system has peer-reviewed evidence of zero rejection and infection rates.\n \n \n Vivostat has been profitable for the last 3 years and currently generates revenues of approximately €3,600,000 per year with a 60% gross profit margin.\n \n \n Vivostat is currently only actively marketed in six European countries representing less than 10% of its total addressable market.\n \n \n Transaction is expected to close on or before\n \n March 15, 2024\n \n , subject to receipt of applicable approvals, including of the TSX Venture Exchange (\"\n \n TSX-V\n \n \") and satisfaction of conditions.\n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Feb. 6, 2024\n \n \n /CNW/ - Principal Technologies Inc. (the \"\n \n Company\n \n \" or \"\n \n Principal\n \n \") (TSXV: PTEC) (FSE: J07), is pleased to announce that as at\n \n February 6, 2024\n \n , it entered into an arm's length binding Share Purchase Agreement (\"\n \n SPA\n \n \") to acquire (the \"\n \n Acquisition\n \n \") 100% of the equity interests of Vivostat, a 23-year-old Danish company which uses a unique autologous fibrin sealant solution for post-surgical use.\n \n \n The Company will pay approximately €7,500,000 in cash plus 2,500,000 common shares in the capital of the Company at a price of\n \n $0.15\n \n , based on last closing price of the common shares on the TSX-V prior to this announcement, to the owners o...