Amphastar to acquire remaining ~15% of Nanjing subsidiary for $22.5M cash

Amphastar Pharmaceuticals, Inc.

Signed SPA for ~15% stake in Amphastar Nanjing Pharmaceuticals (ANP) from QQ for ~$22.5M.
Deal subject to regulatory approval; after closing, Amphastar will own 100% of ANP.
QQ is controlled by COO/Chairman Mary Luo, CEO Jack Zhang, and family members.
Proceeds: APCL $18.96M, Bill Zhang $3.37M, Chongqing Zhang $0.21M.
Transaction price based on independent valuation and deemed fair by disinterested directors.

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