Scientific Industries provides pro forma financials for $7.9M aquila biolabs acquisition

SCIENTIFIC INDUSTRIES INC

Total consideration of €6.5M ($7.9M) for all outstanding shares of aquila biolabs GmbH, a German bioprocessing company.
Pro forma net loss for nine months ended March 31, 2021: $2.6M, vs Scientific's historical loss of $1.7M.
Pro forma net loss for year ended June 30, 2020: $1.65M, vs Scientific's historical loss of $0.7M.
Goodwill of $3.85M and intangibles of $2.52M recorded; amortization will impact future results.
Acquisition funded by sale of ~1.6M shares and warrants at $4.75/share, raising $7.58M.

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