Predictive Technology Group, Inc. entered into an agreement to acquire Taueret Laboratories, LLC for $10 million.
February 13, 2019
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Predictive Technology Group, Inc. (OTCPK:PRED) entered into an agreement to acquire Taueret Laboratories, LLC for $10 million on January 1, 2019. As of March 22, 2019 Predictive Technology Group entered into a First Amended and Restated Securities Purchase Agreement, this agreement supersedes the Securities Purchase Agreement, effective January 1, 2019 and Predictive Technology Group acquired all outstanding equity securities of Taueret Laboratories for $9.7 million, of which $1.2 million will be paid at closing in the form of restricted common stock of Predictive Technology Group and $8.5 million will be paid on or before December 31, 2020. The purchase price for Taueret Laboratories involved less than 10% of the total assets of Predictive Technology Group, Inc. Predictive Technology Group acquire outstanding shares of Taueret Laboratories as, 70.6% from Kenneth Ward Revocable Trust for $6.9 million, 15.4% from Lesa Nelson for $1.5 million, 6.8% from Allen Ward for $0.66 million, 4.1% from Linda Gould for $0.40 million and 3.1% from Kathleen Brown for $0.30 million, the closing of exchange will occur on or before March 31, 2019.
Predictive Technology Group, Inc. is a life science company. The Company, through its subsidiaries, is focused on specific points of the care continuum, including detection, prevention and treatment. Predictive Analytics, Predictive Laboratories, and Predictive Biotech each bring critical solutions to personalized patient care by leveraging its research, genomics, genetic library and expertise in developing bioscience solutions. Predictive Analytics is the repository for its genetic library. Predictive Biotech provides regenerative medicine. Its products are derived from tissue sources rich in properties that support the bodyâs natural ability to heal itself. All products are safely, ethically and minimally processed to deliver allografts that preserve the naturally occurring characteristics and factors of the donor tissue. Its research and use of processing methods has propelled its placental-derived and Whartonâs Jelly umbilical cord-derived products to new heights.