2 weeks Ago By Defense World Staff
On November 11, 2024, EKIMAS (OTCMKTS:ASNB) finalized an agreement with Bio-Convert ApS to acquire 100% of its outstanding shares in an all-stock transaction. The acquisition, completed on November 12, 2024, involved the purchase of 595,400 shares of Bio-Convert’s capital stock by EKIMAS in exchange for 12,000,000 restricted shares of EKIMAS’ common stock. Bio-Convert ApS, a Danish clinical-stage biopharmaceutical company, specializes in developing new pharmaceutical drug products for the treatment of oral leukoplakia and the prevention of oral cancer formation.
The company’s focus lies in revolutionizing the management of oral leukoplakia, a potentially malignant disorder affecting the oral mucosa. It is noted that the Company Shares issued as part of this agreement have not been registered under the Securities Act of 1933, highlighting potential restrictions on their sale or transfer. EKIMAS outlined that this issuance was conducted under specific exemptions, in compliance with applicable regulations.
In a related development, EKIMAS disclosed that the completion of the asset acquisition regarding Bio-Convert Shares has been manifested through this agreement, as detailed in Form 8-K filing dated November 13, 2024. For comprehensive insights into the transaction, the Stock Purchase and Sale Agreement can be referenced in Exhibit 10.1 of the Form 8-K filing.
The company advised that the specifics of the agreement are subject to the terms and conditions outlined within the agreement itself. Additionally, the Company highlighted its prudent approach to the acquisition, clarifying that representations and warranties contained in the Agreement were crafted for the specific purposes of the agreement and may not reflect the current status post-transaction adjustment. This strategic move underlines EKIMAS’s commitment to advancing its position within the biopharmaceutical sector, aligning with its growth objectives and fortifying its presence in the market.
For those seeking further information regarding this acquisition, the contact person is Mr. Henrik Rouf, Chief Executive Officer, reachable at +1 310 666.0750 or via email at [email protected] .
The acquisition of Bio-Convert ApS is a significant milestone for EKIMAS in its endeavors to enhance its presence and offerings within the biopharmaceutical industry. Note: The information shared is based on the 8-K SEC Filing dated November 13, 2024, and the attached exhibit 99-1 for additional context and details. This article was generated by an automated content engine and was reviewed by a human editor prior to publication.
For additional information, read EKIMAS’s 8K filing here . About EKIMAS ( Get Free Report ) EKIMAS Corp. engages in the development of polymer materials, which provide characteristics in the design and development of medical devices.
Its biomaterials are used in devices that are designed for treating a range of anatomical sites and disease states. The firm’s products include ChronoFlex, ChronoSil, HydroMed, HydroThane, and PolyBlend. Featured Stories Five stocks we like better than EKIMAS Breakout Stocks: What They Are and How to Identify Them Rocket Lab is the Right Stock for the Right Time The Top 3 Healthcare Dividend Stocks to Buy and Hold SoundHound AI Will Advance By Triple Digits in 2025: Here’s Why Consumer Staples Stocks, Explained Celsius Holdings: Big Drop, Big Opportunity? Analysts Say Yes.
