Renovaro Biosciences And AI Health Company GEDi Cube Sign Definitive Agreement To Combine; GEDi Cube To Become A Wholly-Owned Subsidiary Of Renovaro In Stock-For-Stock Acquisition; GEDi Cube Holders To Own ~50% Of Combined Company
Portfolio Pulse from Benzinga Newsdesk
Renovaro Biosciences and AI health company GEDi Cube have signed a definitive agreement to combine, with GEDi Cube becoming a wholly-owned subsidiary of Renovaro in a stock-for-stock acquisition. GEDi Cube holders are expected to own approximately 50% of the combined company. The transaction is expected to close late in the fourth quarter of 2023 or early 2024.
September 29, 2023 | 1:19 pm
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Renovaro Biosciences is set to acquire GEDi Cube in a stock-for-stock transaction. The deal is expected to close in late 2023 or early 2024, with GEDi Cube holders owning about 50% of the combined company.
The acquisition of GEDi Cube by Renovaro Biosciences could potentially strengthen Renovaro's position in the market by integrating GEDi Cube's AI and biotechnology platforms. This could lead to increased investor confidence and a potential rise in Renovaro's stock price in the short term.
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