Apricus Bio (APRI) Closes Acquisition of Scomedica Holding Company Finesco for 2.6M Common May Issue $2.3M More

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Apricus Biosciences, Inc. ("Apricus Bio") (Nasdaq: APRI) announced the closing of its agreement to own Finesco, the French parent and holding company of Scomedica, a leading French healthcare contract sales and marketing organization, by way of a share contribution. Finesco and Scomedica will operate as wholly-owned subsidiaries of Apricus Bio.

Under the terms of the agreement, Finesco's existing shareholders contributed to Apricus Bio 100% of the outstanding common stock of Finesco in exchange for 2,592,592 newly issued shares of Apricus Bio common stock valued at €7 million ($8.8 million USD) at the closing. Additional, newly issued shares worth approximately €1.8 ($2.3 million USD) are due in the first quarter of 2013 if Scomedica achieves certain revenue milestones during 2012.

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