ImmunoPrecise Antibodies Ltd. is buying two Dutch companies — ModiQuest Research BV and Immulease BV — for €7 million.
The Victoria, British Columbia-based company will pay €5 million at the time of closing, comprising €2.5 million in cash and 6,600,399 shares.
The remaining €2 million will be paid as deferred payments over the course of three years in three equal installments of cash and equity totaling €666,666.
ImmunoPrecise plans to finance the transaction by completing a debenture financing in the amount of up to C$4.1 million.
ModiQuest is focused on therapeutic antibody discovery, while Immulease works on medical research equipment.
