Versarien Acquisition of CVD Assets and IP from Hanwha Aerospace 7:17 am
Versarien plc (LON:VRS), the advanced materials engineering group, has announced that the Company has agreed to acquire certain graphene production related assets and intellectual property from South Korea based Hanwha Aerospace Co. Ltd, for consideration comprising 11,000,000 ordinary shares of 1 pence each in the Company. The consideration is equivalent to £4.34 million at the 39.475 pence per Ordinary Share closing mid-market price on 18 December 2020.
In addition, the Company has entered into a subscription agreement with Lanstead Capital Investors LP to subscribe for 8,750,000 new Ordinary Shares at 40 pence per Subscription Share raising gross proceeds of £3.50 million, the proceeds of which will be used for an additional sharing agreement with Lanstead, as described below.