Update on Acquisition of Impact Biomedical, Inc.
DSS, Inc. (DSS)
NASDAQ:AMEX Investor Relations:
dsssecure.com
Company Research
Source: GlobeNewswire
ROCHESTER, N.Y., April 27, 2020 (GLOBE NEWSWIRE) -- Document Security Systems, Inc. (“DSS” or the “Company”) (NYSE American: DSS), a leader in anti-counterfeit, authentication and diversion protection technologies, announces the completion of the required independent valuation, allowing the company to proceed with the acquisition of the stock of Impact BioMedical, Inc. (“Impact BioMedical”) through a share exchange agreement as outlined in the term sheet announced on March 12, 2020 (the “Term Sheet”) among DSS, DSS BioHealth Security, Inc., a wholly-owned direct subsidiary of DSS, Impact BioMedical and Global BioMedical Pte. Ltd. (“Global BioMedical”), which owns all of the stock of Impact BioMedical. Impact BioMedical’s ownership of a suite of antiviral and medical technologies has been valued at $382 million. As the value is higher than the agreed value, the purchase price for the acquisition will be DSS common stock and convertible preferred stock with an agreed value of $50 mi
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