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Advanced Biomed Inc (NASDAQ:ADVB) shares traded lower during Wednesday’s premarket session. The move follows a massive rally on Tuesday. Investors appear to be taking profits after the stock surged over 51% yesterday.
All-Stock Acquisition Details
The volatility follows an April 2, announcement. The company entered a Share Purchase Agreement with Acellent Technologies. Advanced Biomed will acquire 100% of the equity interest.
The deal is an all-stock transaction. The Company will issue 270,000 shares of common stock to the seller.
The deal carries an estimated value of $1.08 …
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