M&A
confidence high
sentiment neutral
materiality 0.70
Lode-Star Mining acquires patented EGCG molecule assets from Sapir Pharmaceuticals for $1M in preferred stock
FinTrade Sherpa, Inc.
- Acquired all assets related to stabilized EGCG molecule for pharmaceutical development.
- Consideration: 1,000,000 Series A Convertible Preferred shares valued at $1.00 each, convertible to common at 450:1.
- Sapir receives 5% royalty on gross revenues from licensed or derived products; paid quarterly for 5 years, extendable.
- Sapir gets 450 votes per preferred share; restrictions on reverse splits and new preferred issuance for one year.
- Transaction closed Dec 28, 2021; press release issued Dec 30, 2021.