MPS Ltd. to Acquire Unbound Medicine, Inc. for USD 16.50 Million: Funding Arrangements Disclosed

MPS Ltd. has entered into a Stock Purchase Agreement to acquire 100% stake in Unbound Medicine, Inc., Delaware, USA, for a total consideration of USD 16.50 Million. The proposed acquisition by MPS North America LLC (MPS NA LLC) will be funded through a combination of internal accruals and external borrowings. MPS NA LLC has agreed to avail inter-company loans from American Journal Experts, LLC and MPS Limited, and a term loan facility from ICICI Bank Limited. The Company proposes to infuse equity aggregating to USD 9.81 million into MPS NA LLC for the purpose of partially funding the proposed acquisition.