Read the full press release at PR Newswire.Inverness paid ACON approximately $20 million, including 417,446 shares of Inverness common stock to acquire the new facility. The aggregate purchase price for the acquired business, including the manufacturing facility, is expected to be approximately $175 million based upon a multiple of revenue and pre-tax profits of the acquired business.
The remaining payments under the agreement with ACON, which are expected to be approximately $80 million, are contingent upon completion of certain milestones related to achievement of functional manufacturing operations in certain territories and regulatory clearance in Spain and Portugal. $20.0 million of the remaining payments will be made through the issuance of our common stock, with the balance payable in cash.
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