Flora Growth to acquire TruHC Pharma GmbH for $6.4M in shares in two closings

ZeroStack Corp.

Acquires all shares of TruHC Pharma GmbH for 2,770,562 common shares valued at $6.4M based on $2.31/share.
First closing of 2,135,199 shares (19.99% of outstanding) expected by end of April 2024.
Second closing of 635,363 shares contingent on Nasdaq shareholder approval.
Seller is TruHC Holding GmbH; target is a German limited company.
Shares issued in private placement exempt under Section 4(a)(2) of Securities Act.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

ZeroStack Corp. entered into Stock Purchase Agreement with TruHC Holding GmbH (the "Seller") valued at $6.4 million (effective 2024-04-16).

Action: entry
Agreement: asset purchase
Counterparty: TruHC Holding GmbH (the "Seller")
Value: $6.4 million
Effective: 2024-04-16

Exact text from the filing

On April 16, 2024, Flora Growth Corp. (the "Company") entered into a Stock Purchase Agreement (the "Purchase Agreement") with TruHC Holding GmbH (the "Seller") pursuant to which the Company will acquire all of the issued and outstanding shares of TruHC Pharma GmbH in exchange for 2,770,562 common shares of the Company valued at an aggregate of $6.4 million (the "Purchase Price") based on the closing price of the Company's common shares on March 28, 2024 of $2.31 per share.

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Source: SEC EDGAR

accession 0001062993-24-008564

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