Rio Grande Neurosciences last week backed out of its pending acquisition by Endonovo Therapeutics (OTC:ENDV), after seeking to renegotiate the terms of the $22 million deal, Endonovo said. Steven Gluckstern, chairman & CEO of Santa Fe-based Rio Grande, dissolved a binding letter of intent August 19 “following its request to renegotiate the terms of the binding LOI, […]
Rio Grande Neurosciences
Endonovo Therapeutics raises $10m for Rio Grande buy
Endonovo Therapeutics (OTC:ENDV) said today that it raised $10 million it plans to use to fund the $22 million acquisition of Rio Grande Neurosciences. The backing from an unnamed institutional investor consists of $1 million in convertible notes and another $9 million in a securities purchase agreement, Los Angeles-based Endonovo said. The company said it’s received $400,000 […]
Endonovo Therapeutics inks $22m deal for Rio Grande Neurosciences
Endonovo Therapeutics (OTC:ENDV) said today that it agreed to pay $21.5 million to acquire Rio Grande Neurosciences and its non-invasive devices for treating brain disorders. The cash-and-stock deal calls for Endonovo to put up $1.5 million in cash, another $15 million in ENDV shares and $5 million worth of warrants. The companies signed a binding letter […]