JanOne (JAN) to Sell its Legacy Recycling Business for $25 Million
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JanOne Announces Definitive Agreement to Sell its Legacy Recycling Business for $25 Million
February 25, 2021 9:29 AM ESTLAS VEGAS, Feb. 25, 2021 /PRNewswire/ --Â JanOne Inc. (Nasdaq: JAN), a company focused on developing treatments for conditions that cause severe pain and drugs with non-addictive, pain-relieving properties, today announced that is has entered into a definitive agreement to sell its legacy recycling subsidiary, ARCA Recycling, to Virland Johnson, JanOne's Chief Financial Officer, for an aggregate purchase price of approximately $25 million. The agreement follows JanOne's previously announced intent to divest its legacy businesses, allowing for a strategic corporate focus on the Company's core life science assets.
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