Marrone Bio Announces Closing of Pro Farm Technologies Acquisition
Marrone Bio Innovations, Inc. (MBII)
Last marrone bio innovations, inc. earnings: 11/12 04:05 pm
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US:NASDAQ Investor Relations:
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Source: GlobeNewswire
DAVIS, Calif., Sept. 16, 2019 (GLOBE NEWSWIRE) -- Marrone Bio Innovations Inc. (NASDAQ: MBII), an international leader in sustainable bioprotection and plant health solutions, announced today the closing of the previously announced acquisition of Finland-based Pro Farm Technologies OY, adding proprietary nutrient and biostimulant technology and products for seed and foliar treatments to its portfolio. Marrone Bio completed the acquisition of Pro Farm on September 13, 2019, for an agreed enterprise value of $31.8 million, including a combination of $6.2 million cash and 12.7 million shares of Marrone Bio stock paid to Pro Farm’s equity holders, debt holders and advisors in connection with the closing, as well as the opportunity for potential payment of a total of up to $7.5 million of additional shares of stock deliverable from 2021 through 2024 based on the achievement of agreed commercial milestones. As a result of the acquisition, Pro Farm became a wholly owned subsidiary of Mar
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