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ChromaDex Inc Plans Strategic Sale Of BluScience Consumer Product Line To NeutriSci International

Monday, 25 Feb 2013 05:45am EST 

ChromaDex Inc announced that it has entered into a letter of intent (LOI) to sell BluScience consumer product line to NeutriSci International (NeutriSci). The BluScience line of products can be found in over 15,000 retail locations across the United States. Under the terms of the LOI, upon closing the total transaction is valued at approximately $6.0 million and will consist of a combination of cash, senior secured debt and an ownership interest in NeutriSci. ChromaDex will continue to generate revenue through a royalty on future net sales of BluScience products as well as a supply agreement with NeutriSci for patented pTeroPure pterostilbene, which will continue to be the key active ingredient in the BluScience product line. ChromaDex will retain all rights and ownership to pTeroPure pterostilbene. NeutriSci paid a non-refundable $250,000 deposit to ChromaDex, which will be applied toward the total consideration to be paid. Closing is expected to occur before March 31, 2013. 

Company Quote

-0.07 -4.64%
17 Apr 2014