PetVivo to Acquire PiezoBioMembrane for 3M Shares
PetVivo Holdings, Inc. announced it has entered into an Agreement and Plan of Merger to acquire PiezoBioMembrane, Inc. (PBM), a developer of advanced functional biomaterials and piezoelectric technologies. PBM shareholders will receive an aggregate of 3,000,000 shares of PetVivo's restricted common stock, with a portion subject to milestone-based vesting. The acquisition is expected to strengthen PetVivo's intellectual property portfolio and create new opportunities for medical device and therapeutic product development across both animal and human health markets, with PBM becoming an indirect wholly-owned subsidiary operating under PetVivo's Cosmeta Corp. subsidiary. The closing is subject to customary conditions, including PetVivo completing an equity financing of at least $5.0 million.
Key Highlights
- PetVivo Holdings, Inc. to acquire PiezoBioMembrane, Inc. (PBM) via merger.
- PBM shareholders to receive 3,000,000 shares of PetVivo's restricted common stock.
- A portion of the shares for Operator Shareholders are subject to forfeiture based on development and regulatory milestones.
- PBM will become an indirect wholly-owned subsidiary of PetVivo, operating under Cosmeta Corp.
- Closing is conditional on PetVivo completing an equity financing of at least $5.0 million.
- Acquisition aims to strengthen intellectual property and create new opportunities in animal and human health markets.
Price Impact
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