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0.0304509076712865 0.0150302557095453 0.0150302557095453 0.0931095061487411 0.264883857114972 0.369510052703494 0.246144837009565 0.293577981651376
Stockreport

Precipio Settles Lawsuit with Crede Capital

PRECIPIO (PRPO)  More Company Research Source: GlobeNewswire
US:NASDAQ Investor Relations: precipiodx.com/investors.html
PDF NEW HAVEN, Conn., March 13, 2018 (GLOBE NEWSWIRE) -- Specialty diagnostics company Precipio, Inc. (NASDAQ:PRPO), announced today it has settled its lawsuit with Crede Capital Group LLC, restructuring the final substantial liability of legacy payables inherited as part of the merger with Transgenomic in June 2017. These liabilities have been reduced from approximately $19 million at the merger, to approximately $7 million (a reduction of close to 65%). As part of the settlement, Precipio will pay to Crede a total of $1.925 million over a period of 15 months, with most payments payable at Precipio’s option either in cash, stock, or as a combination of both. With this settlement, close to 95% of the $19 million in legacy liabilities inherited as part of the merger with Transgenomic in June 2017 will have been settled. Purchase Price of the Merger Prior to the merger, Transgenomic had in excess of $19 million in legacy liabilities, which was owed to approximately 300 creditors. Bec [Read more]

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