AiBtl BioPharma Inc. Acquired TT Life Company, Valued At $8.33M, With 1.66M AiBtl Shares At $5 per Share
Portfolio Pulse from Benzinga Newsdesk
ABVC BioPharma, Inc. (NASDAQ:ABVC), a clinical-stage biopharmaceutical company, announced its subsidiary AiBtl BioPharma Inc.'s acquisition of TT Life Company for $8.33M, paid through 1.66M AiBtl shares at $5 per share. This acquisition aims to expand AiBtl's portfolio in the precision medicine market, promising to enhance innovation and consolidate financials with TT Life. The deal is expected to bring synergies in R&D, manufacturing, and distribution, benefiting ABVC's financial statements as it holds 59% of AiBtl's consolidated shares.
April 18, 2024 | 1:27 pm
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ABVC BioPharma's acquisition of TT Life through its subsidiary AiBtl BioPharma Inc. for $8.33M aims to strengthen its position in the precision medicine market, potentially enhancing its financials and stock value.
The acquisition of TT Life by ABVC's subsidiary AiBtl is likely to have a positive short-term impact on ABVC's stock price due to the potential for enhanced innovation, expanded product portfolio, and improved financials. As ABVC holds a significant share of AiBtl, the benefits from the acquisition, including synergies in R&D, manufacturing, and distribution, are expected to reflect positively on ABVC's financial statements and investor sentiment.
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