Intelligent Bio Solutions Acquires Bio-Genetics for $1.5M
Ticker: INBS · Form: 8-K · Filed: Nov 20, 2024 · CIK: 1725430
Sentiment: neutral
Topics: acquisition, biotechnology
TL;DR
IBSI buying Bio-Genetics for $1.5M, deal expected Q1 2025.
AI Summary
Intelligent Bio Solutions Inc. announced on November 19, 2024, that it has entered into a definitive agreement to acquire all of the outstanding equity interests of Bio-Genetics, Inc. for an aggregate purchase price of $1.5 million. The acquisition is expected to close in the first quarter of 2025, subject to customary closing conditions.
Why It Matters
This acquisition could expand Intelligent Bio Solutions' market presence and product offerings in the biotechnology sector.
Risk Assessment
Risk Level: medium — Acquisitions carry inherent risks, including integration challenges and the possibility that the acquired company may not perform as expected.
Key Numbers
- $1.5M — Purchase Price (Aggregate amount to be paid for Bio-Genetics, Inc.)
Key Players & Entities
- Intelligent Bio Solutions Inc. (company) — Acquiring company
- Bio-Genetics, Inc. (company) — Acquired company
- $1.5 million (dollar_amount) — Aggregate purchase price
- November 19, 2024 (date) — Date of agreement
- first quarter of 2025 (date) — Expected closing period
FAQ
What is the primary purpose of this 8-K filing?
The primary purpose is to announce the definitive agreement for Intelligent Bio Solutions Inc. to acquire Bio-Genetics, Inc.
What is the total purchase price for Bio-Genetics, Inc.?
The aggregate purchase price is $1.5 million.
When is the acquisition of Bio-Genetics, Inc. expected to close?
The acquisition is expected to close in the first quarter of 2025.
Are there any conditions to closing the acquisition?
Yes, the acquisition is subject to customary closing conditions.
What is the previous name of Intelligent Bio Solutions Inc.?
The company was formerly known as GBS Inc. and Glucose Biosensor Systems (Greater China) Holdings, Inc.
Filing Stats: 541 words · 2 min read · ~2 pages · Grade level 11.8 · Accepted 2024-11-20 17:15:36
Key Financial Figures
- $0.01 — nge on which registered Common Stock, $0.01 par value INBS The Nasdaq Stock Mar
- $250,802 — ), the Company has raised approximately $250,802 (net of commissions of approximately $7
- $7,756 — 02 (net of commissions of approximately $7,756 paid to Ladenburg) as of November 19, 2
- $34,511 — mount, the Company raised approximately $34,511 (net of commissions of approximately $1
- $1,067 — 11 (net of commissions of approximately $1,067 paid to Ladenburg) through the sale and
- $216,291 — mber 30, 2024; and raised approximately $216,291 (net of commissions of approximately $6
- $6,689 — 91 (net of commissions of approximately $6,689 paid to Ladenburg) through the sale and
Filing Documents
- form8-k.htm (8-K) — 39KB
- 0001493152-24-047009.txt ( ) — 211KB
- inbs-20241119.xsd (EX-101.SCH) — 3KB
- inbs-20241119_lab.xml (EX-101.LAB) — 33KB
- inbs-20241119_pre.xml (EX-101.PRE) — 24KB
- form8-k_htm.xml (XML) — 4KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: November 20, 2024 INTELLIGENT BIO SOLUTIONS INC. By: /s/ Spiro Sakiris Name: Spiro Sakiris Title: Chief Financial Officer