ANI Pharmaceuticals Inc (ANIP) has released an update.
ANI Pharmaceuticals Canada Inc. has sold its former manufacturing facility in Oakville, Ontario to 1540700 Ontario Limited for $19.2 million CAD, which is around $14.2 million USD. The buyer has already paid a 5% deposit and will pay another 5% following a five-day due diligence period, with the rest due at closing. The deal, expected to finalize by the end of March 2024, includes standard closing conditions and indemnities, with the property sold “as is.” If the buyer defaults, ANI keeps the deposit; otherwise, it’s returned if the sale falls through due to ANI or the due diligence condition.
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