Sharps Technology Issues Letter To Shareholders Covering The Announced Asset Purchase Agreement To Acquire InjectEZ Prefillable Syringe Manufacturing Facility And The Associated $400M 10-Year Purchase Agreement With Nephron Pharmaceuticals
Portfolio Pulse from Benzinga Newsdesk
Sharps Technology has announced an Asset Purchase Agreement to acquire the InjectEZ prefillable syringe manufacturing facility and a $400M 10-year purchase agreement with Nephron Pharmaceuticals. The acquisition will enable Sharps to commercialize its copolymer prefillable syringe systems. The company has also signed a term sheet with a leading middle-market lender for up to $75 million in debt financing. The InjectEZ acquisition will provide a strong baseline of revenue for Sharps, supported by the $400 million commitment from Nephron. Initial product delivery is scheduled for Q1 2024.
September 28, 2023 | 2:54 pm
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POSITIVE IMPACT
Sharps Technology's acquisition of InjectEZ and the purchase agreement with Nephron Pharmaceuticals is expected to significantly boost its revenues and enable it to commercialize its syringe systems. The company has also secured a term sheet for up to $75 million in debt financing.
The acquisition of InjectEZ and the purchase agreement with Nephron Pharmaceuticals will provide Sharps Technology with a strong revenue base and enable it to commercialize its syringe systems. The company's successful negotiation of a term sheet for up to $75 million in debt financing also demonstrates its financial strength and strategic planning. These developments are likely to have a positive impact on the company's stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100