PV Nano Cell announced the closing of its acquisition of DigiFlex, a digital printer manufacturer. The all-stock transaction was valued at $10 million and represents 25% of PV Nano Cell on a fully diluted basis, post transaction.
Additionally, certain shareholders of DigiFlex and its subsidiary, JetCU P.C.B. Ltd., committed to investing $1,100,000 in PV Nano Cell, of which $500,000 has already been invested, and an additional $600,000 is expected to close by the end of 2017.
The acquisition of DigiFlex continues PV Nano Cell’s strategy to strengthen its presence as DigiFlex printers will be adapted to serve the electronics industry by making available a unique printer, enabling PVN to expand its markets and technologies.