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Control Bionics Ltd. ( (AU:CBL) ) just unveiled an announcement.
Control Bionics has completed the acquisition of 100% of U.S.-based Neuro Elite Athletics, the company behind the NeuroBounce athletic performance program, via its U.S. subsidiary Control Bionics Ngage Inc., making Neuro Elite Athletics a wholly owned subsidiary. The US$370,028 purchase price was settled entirely in equity through the issuance of 8,443,747 new shares under the company’s existing placement capacity, and management says full ownership will accelerate the integration of NeuroBounce with its NeuroStrip EMG platform, supporting a strategic push into high-growth sports performance, return-to-play and human optimisation markets in the U.S. and Australia while consolidating Neuro Elite’s intellectual property, brand, customers and operations within the group.
The most recent analyst rating on (AU:CBL) stock is a Hold with a A$0.08 price target. To see the full list of analyst forecasts on Control Bionics Ltd. stock, see the AU:CBL Stock Forecast page.
More about Control Bionics Ltd.
Control Bionics Limited is an Australia-based medical device company specialising in surface electromyography (EMG) technology, with more than 20 years’ experience developing assistive communication and control solutions. Its core patented NeuroNode wearable detects minute neural signals to enable speech and computer control, integrating touch, eye-gaze and EMG inputs, and the company is now commercialising NeuroStrip, a miniaturised EMG platform targeting new markets including health diagnostics, sports performance and rehabilitation. Control Bionics operates across North America, Australia, Singapore and Japan.
Average Trading Volume: 1,161,344
Technical Sentiment Signal: Buy
Current Market Cap: A$26.23M
For an in-depth examination of CBL stock, go to TipRanks’ Overview page.