WIZP - Wize Pharma and Cosmos Capital ink bid implementation agreement

Wize Pharma (WIZP) and Sydney-based digital infrastructure provider Cosmos Capital, entered into a bid implementation agreement, wherein the former has agreed to make an off-market takeover offer to acquire all of the outstanding shares of Cosmo.Post the transaction closure in 1Q21, Cosmos will become a wholly-owned subsidiary of Wize.Under agreement terms, Wize will commence an off-market takeover offer to acquire all of the outstanding shares of Cosmos in exchange for 38.78 shares of Wize common stock and 22.33 warrants for each Cosmos share.The combined company is expected to have a market cap of ~$75.7M, cash and equivalents of ~$5M.Concurrently, Wize entered into a $3M private investment in public equity financing from various accredited investors.

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Wize Pharma and Cosmos Capital ink bid implementation agreement