Genovis intends to acquire QED Bioscience and conduct a rights issue of SEK 50 million
Genovis has signed a Letter of Intent for the acquisition of all shares in the privately held company QED Bioscience Inc. (QED), based in San Diego, California. The acquisition is expected to be completed during the first quarter of 2020 and is subject to the customary terms and conditions for possession.Genovis intends to make a cash payment for the acquisition and estimates that the purchase price including transaction costs will amount to approximately SEK 20 million. Genovis’ Board of Directors has simultaneously approved a rights issue for Core Ny teknik, Coeli SICAV II – Absolute