Milestone Scientific Inc. (AMEX:MLSS) acquired an additional 7.68% stake in Milestone Medical, Inc. (WSE:MMD) for $2.3 million on June 15, 2016. The investors will exchange shares at a ratio of two Milestone Medical shares for one Milestone Scientific share. As a result, Milestone Scientific issued 0.58 million new restricted shares to Milestone Medical investors. On completion, Milestone Scientific will hold 21.6 million shares of Milestone Medical, Inc. and increase its ownership to 98.1% stake. As announced on September 7, 2016, the number of shares acquired was 1.68 million and Milestone Scientific increased its ownership to 90.45% stake.

Milestone Scientific Inc. (AMEX:MLSS) completed the acquisition of an additional 7.68% stake in Milestone Medical, Inc. (WSE:MMD) on June 15, 2016.