MILESTONE SCIENTIFIC INC. (NYSEMKT:MLSS) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01. Entry into Material Definitive
Agreement.
On June 2, 2017, Milestone Scientific Inc. (the Company) entered
into an Asset Purchase Agreement (the Agreement) with APAD
Octrooi B.V. and APAD B.V. (each, a Seller, and collectively, the
Sellers) to purchase certain patent rights and other intellectual
property rights related to the Sellers computer controlled
injection instrument (the Purchased Assets). The Company also
entered into related joinder agreements with the stockholders of
the Sellers. In addition, at the closing, the Company will enter
into agreements with the inventors of the patents purchased who
are, directly or indirectly, affiliated with a Seller. The
purchase price for the Purchased Assets will be Two Million Two
Hundred Thousand Euros (2,200,000), payable in unregistered
restricted shares of the Companys common stock, par value $.001
per share (Common Stock), at a closing scheduled to occur on July
10, 2017. The number of shares of Common Stock will be determined
based upon the average closing price of the Common Stock for the
thirty days preceding the closing, subject to certain
post-closing upward or downward adjustments. No registration
rights have been granted with respect to the Common Stock.
The foregoing description of the Agreement does not purport to be
complete and is qualified in its entirety by reference to the
full text of the Agreement filed as Exhibit 10.1 to this Current
Report on Form 8-K.
Item 9.01.Financial Statements and Exhibits.
(d) Exhibits
|
Exhibit No. |
Description |
|
10.1 |
Final Form of Asset Purchase Agreement, dated June 2, |
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About MILESTONE SCIENTIFIC INC. (NYSEMKT:MLSS)
Milestone Scientific Inc. (Milestone) is engaged in providing computer-controlled injection technologies and solutions for the medical and dental markets. The Company uses its CompuFlo technology for the delivery of medicaments. The CompuFlo pressure or force Computer-Controlled Local Anesthetic Delivery (C-CLAD) technology is a medical technology for the delivery of drugs, anesthetics and other medicaments into various tissue types. Milestone’s product portfolio includes Single Tooth Anesthesia Instrument (STA Instrument), CompuDent, CompuMed and The Wand. The Company’s STA Instrument is a computer-controlled local anesthesia delivery instrument that utilizes the pressure feedback elements of Milestone’s CompuFlo technology. CompuDent (also known as the Wand Plus internationally) is Milestone’s C-CLAD instrument. CompuMed is a computer-controlled injection instrument offered by the Company. The Wand handpiece is used in conjunction with the STA, CompuDent and CompuMed instruments. MILESTONE SCIENTIFIC INC. (NYSEMKT:MLSS) Recent Trading Information
MILESTONE SCIENTIFIC INC. (NYSEMKT:MLSS) closed its last trading session down -0.15 at 1.35 with 51,533 shares trading hands.