DigiPath Inc (DIGP) has released an update.
Digipath, Inc. and its subsidiary, Digipath Labs, sold nearly all of their assets to DPL NV LLC for an initial cash purchase price of $2.3 million, subject to adjustments related to working capital. The deal, which required Nevada Cannabis Compliance Board approval, was finalized on February 20, 2024, transferring a range of assets including intellectual property and physical assets to the buyer. Additionally, $230,000 was held in escrow to cover any post-sale indemnification claims, with an agreement to settle any disputes regarding working capital adjustments within 65 days post-closing.
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