Brief: MYOS RENS Announces Merger With MedAvail And Spin-Out Of Muscle Health Business

Medavail Holdings

30/06/2020 21:44

June 30 (Reuters) - MYOS RENS Technology Inc  MYOS.O :
    * MYOS RENS TECHNOLOGY AND MEDAVAIL INC. ANNOUNCE MERGER AND
SPIN-OUT OF MUSCLE HEALTH BUSINESS
    * MYOS RENS TECHNOLOGY INC - WHOLLY-OWNED SUBSIDIARY OF MYOS
WILL
MERGE WITH AND INTO MEDAVAIL
    * MYOS RENS TECHNOLOGY INC - MEDAVAIL WILL PAY SPUN-OUT
BUSINESS
$2 MILLION IN CASH UPON CLOSING OF MERGER
    * MYOS RENS TECHNOLOGY INC - MEDAVAIL TO ISSUE A PROMISSORY
NOTE
FOR AN ADDITIONAL $3 MILLION
    * MYOS RENS TECHNOLOGY INC - ED KILROY EXPECTED TO BE
APPOINTED TO
SERVE AS POST-MERGER COMBINED CO'S CEO

Source text for Eikon:  ID:nPn3b73hfa 
Further company coverage:  MYOS.O 

 ((Reuters.Briefs@thomsonreuters.com;))