Dotz Nano Limited (ASX:DTZ) entered into a binding asset purchase agreement to acquire Assets and Technology from H2 Blue Tech Limited for $8.6 million on May 19, 2023. The maximum consideration payable (Upfront Consideration plus 100% of the earn-out consideration) for H2 Blue?s Assets and Technology is 40,000,000 Dotz Shares, 33,000,000 Dotz Options, and $2.38 million cash. Dotz will acquire H2 Blue?s Assets and Technology for upfront consideration of 14,400,000 Shares and 8,000,000 Options in Dotz as well as US$880,000 in cash plus additional deferred consideration of up to a further 25,600,000 Shares and 25,000,000 Options in Dotz and US $1,500,000 in cash, which may be payable for achievement of certain performance milestones, outlined below. These milestones can be satisfied at any time within 3 years of completion and in any order. Completion of the Acquisition is subject to customary closing conditions including shareholder approval and capital raise, and is anticipated to occur on third quarter 2023.

Dotz Nano Limited (ASX:DTZ) completed the acquisition of Assets and Technology from H2 Blue Tech Limited on August 15, 2023.