Wacker Chemie AG (XTRA:WCH) entered into an agreement to acquire Genopis Inc. from Medivate Partners LLC and Helixmith Co., Ltd (KOSDAQ:A084990) for $42 million on February 2, 2021. The total purchase price for the acquisition consists of cash payment due upon closing as well as possible further performance-based payments under a so-called earn-out model. Wacker will acquire 47.91 million shares of Genopis.

The transaction is expected to close in the 1st quarter of 2021. The transaction is expected to close on March 31, 2021. As announced on February 26, 2021, the transaction is expected to be closed on March 2, 2021.