Brief: Patricia Industries Funds Strategic Add-On Acquisition By Advanced Instruments

Investor AB

26/04/2022 12:06

April 26 (Reuters) - Investor AB  INVEb.ST :
    * PATRICIA INDUSTRIES FUNDS STRATEGIC ADD-ON ACQUISITION BY
ADVANCED INSTRUMENTS
    * ADVANCED INSTRUMENTS HAS SIGNED AN AGREEMENT TO ACQUIRE
ARTEL
    * THE TOTAL CONSIDERATION AMOUNTS TO AN UPFRONT PAYMENT OF
APPROXIMATELY USD 85M ON A CASH- AND DEBT-FREE BASIS
    * ADDITIONAL PAYMENTS OF UP TO USD 55M SUBJECT TO
ACHIEVEMENT OF
CERTAIN 2022 REVENUE TARGETS
    * CONSIDERATION WILL BE FUNDED WITH EQUITY FROM PATRICIA
INDUSTRIES, ADVANCED INSTRUMENTS' BALANCE SHEET CASH, AND
EXTERNAL DEBT
    * ACQUISITION IS EXPECTED TO CLOSE DURING Q2 2022

Source text for Eikon:  ID:nWkr13QnQh 
Further company coverage:  INVEb.ST 

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