- ERBA Diagnostics (NYSEMKT:ERB) receives $3.5M in new capital from ERBA Diagnostics Mannheim GmbH, representing the final tranche in their Stock Purchase Agreement inked in 2011. The company issued 4,666,666 shares in exchange for the $3.5M ($0.75 per share).
- Proceeds will fund enhancements to manufacturing and sales and marketing initiatives.
- Mannheim now owns 40.6M shares of ERBA Diagnostics representing a 83.3% stake.