NEXGEL Acquires All Assets Of Silly George For $400,000 In Cash, $200,000 In NEXGEL Common Stock, And A 4-Year Net Profit Earn Out; Silly George Has A Revenue Run Rate Of ~$2M
Portfolio Pulse from Benzinga Newsdesk
NEXGEL has acquired all assets of Silly George for $400,000 in cash, $200,000 in NEXGEL common stock, and a 4-year net profit earn out. Silly George has a revenue run rate of approximately $2 million. The management of Silly George will remain in place, and inventory will be provided by the seller at cost and paid for after the sale of each unit.
May 16, 2024 | 1:23 pm
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NEXGEL has acquired Silly George for $400,000 in cash, $200,000 in NEXGEL common stock, and a 4-year net profit earn out. This acquisition could potentially increase NEXGEL's revenue stream, given Silly George's $2 million revenue run rate.
The acquisition of Silly George, which has a $2 million revenue run rate, is likely to positively impact NEXGEL's revenue. The deal structure, including cash, stock, and a net profit earn out, indicates a strategic move to enhance NEXGEL's market position.
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