M&A
confidence high
sentiment neutral
materiality 0.60
Radnostix acquires Lara System assets for $900K; issues $500K convertible note to related party
RADNOSTIX INC
- Acquired Lara System and Ellexa Explorer assets from Lucerno Dynamics for $150K cash + $750K in stock (20-day VWAP).
- Potential milestone payments: $500K stock upon Nuclear Medicine Clarification Act approval, $250K stock on Lara System placements, plus earnouts.
- Issued $500K convertible promissory note to Kershner Grosso & Co. (owned by chairman) at 5% interest, convertible at $0.07/share, maturity 2031.
- Amended historic notes (2013, 2018, 2019) totaling ~$1.62M: extended maturity to 2031, released liens, added conversion rights at $0.07 and forced conversion at $0.12 VWAP.
- The note and amendments are related-party transactions approved by disinterested directors.