Oculus Innovative Sciences Sells Latin America Business to Invekra S.A.P.I. de C.V. for $19.5 Million in Cash
Total cash consideration for sale of Latin American business (which is 30% of current Oculus revenue) exceeds Oculus’ current market capitalization of $17 million U.S.
Transaction further includes a 10-year annual payment of 3% on Latin American sales (excluding Mexico) with a minimum of $250,000 year
Business Update Conference call to be held Tuesday, November 1, 2016 at 9:00 am EDT
PETALUMA, Calif., Oct. 31, 2016 -- Oculus Innovative Sciences, Inc. (NASDAQ: OCLS, warrants OCLSW), a specialty pharmaceutical company that develops and markets solutions for the treatment of dermatological conditions and advanced tissue care, today announced the sale of the company’s Latin American-related assets to Invekra S.A.P.I. de C.V. of Mexico for $19.5 million in cash. Additionally, Invekra will pay Oculus a three percent payment on all Latin American revenues outside of Mexico, with a minimum payment of $250,000 per year for the next ten years, to be paid quarterly in Mexican pesos.
- Published: 01 November 2016
- Written by Editor