Pressure Biosciences (PBIO) has released an update to notify the public and investors about an entry into a material definitive agreement.
On January 9, 2024, Pressure BioSciences, Inc. acquired all assets and assumed selected liabilities of CBH International LLC, doing business as Uncle Bud’s, as per an Asset Purchase Agreement. Uncle Bud’s stockholders received 127 shares of convertible Series DD Preferred Stock in the Company, which equates to 2,540,000 common shares. The deal includes an earnout clause with a potential additional $4 million in common stock based on 2024’s financial performance. Following the acquisition, Uncle Bud’s employees joined PBIO, and Uncle Bud’s was integrated as the Consumer Products Business Unit.
For further insights into PBIO stock, check out TipRanks’ Stock Analysis page.
