Wednesday, March 30, 2016
Adamis pharmaceuticals announces agreement to acquire us compounding. Agreement usc will become a wholly-owned subsidiary of adamis.
All of outstanding shares of usc will be converted into right to receive approximately 1.62 million shares of adamis common stock.
Under terms of agreement, adamis will assume certain secured debt obligations.
Expect usc will generate at least $5 million in operating income over first 12 months.
Expect new division to achieve an annualized run rate of $50 million per year within 24 months after closing.
Source : reuters.com
