Alliqua BioMedical, Inc.NASDAQ
Thu, Oct. 6, 7:46 AM
- Alliqua BioMedical (NASDAQ:ALQA) inks an agreement to acquire privately held Soluble Systems, LLC for $35M in stock, assumption of debt and cash. Specifically, the transaction consists of 17.6M newly issued shares of ALQA stock, the assumption of $12.4M of senior debt of Soluble, the payment of $5.4M of subordinated Soluble debt by Alliqua, $1M in cash paid to Soluble and $500K of other consideration (appears to be warrants to purchase 4M shares of ALQA stock at $1.07). The transaction is expected to close in Q1.
- Newport News, VA-based Soluble Systems markets a human skin tissue allograft called TheraSkin, used to treat acute and chronic wounds.
Feb. 2, 2015, 4:58 PM
- Alliqua BioMedical (NASDAQ:ALQA) acquires privately-held Celleration for ~$30.4M in cash and stock, with additional contingent payments in cash and stock if certain revenue thresholds are reached by the end of 2016 or if certain milestones are achieved in connection with product sales in the U.K.
- Celleration's business is based on its MIST Therapy therapeutic ultrasound platform which uses low-frequency ultrasound delivered through a saline mist to the wound bed to promote healing. It generated ~$8.7M in revenues last year.
- The transaction should close in Q2. Alliqua will host a conference call tomorrow morning at 8:00 am ET to discuss the deal.