Advanced Biological Laboratories S.A. (“ABL”), a European biotechnology and MedTech group, and ProPhase Labs, Inc. (NASDAQ: PRPH) (“ProPhase”) announce that they have entered into a non-binding Letter of Intent (“LOI”) regarding a proposed reverse merger transaction pursuant to which ABL would become the majority owner of the combined entity (the “Proposed Transaction”). While subject to finalization in definitive agreements, the parties have discussed a preliminary, non-binding valuation framework for the legacy ProPhase business that may imply an enterprise value of up to approximately $30 million.
Read the full article: Advanced Biological Laboratories Signs Non-Binding LOI for Proposed Reverse Merger with ProPhase Labs //
Source: https://www.einpresswire.com/article/876520348/advanced-biological-laboratories-signs-non-binding-loi-for-proposed-reverse-merger-with-prophase-labs